Smart Trade Insights
  • Business
  • Economy
  • Investing
  • Politics
Top Posts
Blackrock Silver to Present at the Precious Metals...
Saga Metals Acknowledges U.S. Strategic Critical Minerals Reserve...
After Major Gold Payout, Bian Ximing Turns Bearish...
Equity Metals Exhibiting at the 2026 PDAC
African Discovery Groupannounces signing of Definitive Sales and...
Crypto Market Update: Bitcoin Price Ends Week Higher...
Tech Weekly: Chip Stocks Pop to Close Volatile...
Top 5 Canadian Mining Stocks This Week: Giant...
Editor’s Picks: Is Gold and Silver’s Price Correction...
Beyond the Pilot: Wiring Wall Street’s New Internet
  • Business
  • Economy
  • Investing
  • Politics

Smart Trade Insights

Investing

Alderan Receives Approval to Commence Drilling at New Years Copper-Gold Prospect Utah, USA

by admin August 3, 2024
August 3, 2024
Alderan Receives Approval to Commence Drilling at New Years Copper-Gold Prospect Utah, USA

Alderan Resources Limited (ASX: AL8) (Alderan or the Company) is very pleased to announce that approval has been received from Utah’s Department of Oil, Gas and Mines (DOGM) to commence drilling at the New Years copper prospect in the Cactus district of the Frisco copper-gold project. The approval allows Alderan to drill three Stage 1 holes while archaeological investigations are carried out on Stage 2 drill sites which have not undergone prior archaeological review. Alderan will now liaise with the drilling company which is on standby for the programme on rig availability ahead of confirming a start date which is expected to be in August.

HIGHLIGHTS

Approval has been received from Utah’s Dept of Oil, Gas and Mining to commence drilling at the New Years copper-gold prospect – Stage 1 drilling expected to start in August.Shallow historical drill intersections into New Years and the gap between the Cactus and New Years magnetic anomalies include:13.7m @ 2.32% Cu within 19.8m @ 1.67% Cu from 22.9m downhole (NY-6)10.7m @ 1.52% Cu within 27.4m @ 0.85% Cu from surface (NY-2)10.7m @ 1.60% Cu and 4.6m @ 1.3% Cu within 42.7m @ 0.80% Cu from surface (NYM-1)New Years sits in the same magnetic low corridor 400m northwest of the historical Cactus and Comet copper-gold mines – all have coincident magnetic low anomalies.New Years pXRF soil assays highlight a 400m x 300m anomaly with grades up to 0.33% copper plus three additional anomalies.New Years has received no drilling since the early 1960s and has potential for both oxide and primary copper mineralisation.New Years is one of twelve new Cactus ‘look-a-like’ magnetic anomalies highlighted by Alderan’s 3-D magnetic inversion modelling.Alderan’s 3-D modelling of the Cactus and Comet deposits suggests that mineralisation remains open and that more remains than was historically mined.

Cactus is an historical copper-gold mining district in the Frisco project in southern Utah, USA. Reported historical production at the Cactus mine was 1.27Mt at a grade of 2.07% copper, 0.33g/t gold.1 The New Years prospect lies approximately 400m northwest of Cactus mine in the Cactus Canyon fault zone which also hosts the historical Comet gold-copper mine. Historical drilling in the 1960s at New Years intersected 13.7m @ 2.32% Cu within 19.8m @ 1.67% Cu from 22.9m downhole (NY-6) and 10.7m @ 1.52% Cu within 27.4m @ 0.85% Cu from surface (NY-2). Hole NYM-1 drilled midway between Cactus and New Years in 2002 intersected 10.7m @ 1.60% Cu and 4.6m @ 1.3% Cu within 42.7m @ 0.80% Cu from surface.2

Managing Director of Alderan, Scott Caithness, commented:

“Alderan is very excited to receive approval from Utah’s Dept of Oil, Gas and Mining to enable drilling to get underway at New Years. Our next step is to liaise with the drilling company on when it can get a rig to site to commence the programme however our expectation is that this will be in August.

“New Years is an outstanding copper target in the multi-target Cactus copper-gold district. It lies within the northwest structural corridor which hosts the historical high grade Cactus and Comet copper-gold deposits, it has a coincident magnetic low anomaly, a 400m x 300m copper soil anomaly with pXRF grades up to 0.33%, surface rock samples that grade up to 4.6% Cu and high-grade 1960s drill intersections of +10m grading +1.5% Cu. The soil sampling has identified three additional anomalies on the New Years grid and the magnetic inversion modelling has highlighted twelve Cactus ‘look-a-like’ magnetic anomalies.

“New Years has not been drilled since 1964 hence Stage 1 drill holes will include verifying the historical holes ahead of Stage 2 holes which will focus on stepping out and extending the mineralisation.”

New Years Prospect Proposed Drilling

Stage 1 drilling at New Years will be carried out from three permitted drill sites as outlined in Table 1.3 The holes are designed to confirm and potentially extend the mineralisation intersected in historical holes, some of which date back to 1964.

The Stage 2 drill holes are designed to extend the mineralisation expected in the initial round of drilling and also test anomalies identified from the geophysical modelling. Archaeological investigations will be carried out on some of these sites prior to approval from DOGM for the Stage 2 drilling. These investigations are standard procedure in Utah and primarily involve assessing the location and significance of historical mining relicts and whether the drill sites will impact any that are significant. The results of previous archaeological studies in the area has not impacted exploration.

Click here for the full ASX Release

This post appeared first on investingnews.com

previous post
Strategic Investment from Sichuan Hebang Biotechnology
next post
Alvopetro Energy

You may also like

Silver Crown Royalties Announces Corporate Update

January 11, 2025

E-Power Starts the 2025 Exploration Campaign at Tetepisca

June 11, 2025

Keith Weiner: Gold, Silver Drivers Intact, What to...

December 3, 2025

Metals & Mining Virtual Investor Conference: Presentations Now...

July 27, 2025

John Ciampaglia: Gold’s “Extreme” Run — Price Drivers...

April 29, 2025

Top 5 Canadian Mining Stocks This Week: Orosur...

February 8, 2025

East Star and Endeavour Mining to Collaborate on...

November 18, 2025

Editor’s Picks: Gold Knocks Out Inflation-Adjusted High, Silver...

September 13, 2025

CHARBONE Hydrogen Provides Update on Grid Interconnection with...

March 7, 2025

What is the VIX Index?

April 29, 2025

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Blackrock Silver to Present at the Precious Metals and Critical Minerals Virtual Investor Conference on February 10th 2026

      February 7, 2026
    • Saga Metals Acknowledges U.S. Strategic Critical Minerals Reserve “Project Vault” and Highlights Titanium’s Strategic Importance to North American Defense Supply Chains

      February 7, 2026
    • After Major Gold Payout, Bian Ximing Turns Bearish Sights on Silver

      February 7, 2026
    • Equity Metals Exhibiting at the 2026 PDAC

      February 7, 2026
    • African Discovery Groupannounces signing of Definitive Sales and Purchase Agreementfor Butembo Copper Asset in the Democratic Republic of Congo; name change to Copper Intelligence, Inc

      February 7, 2026
    Promotion Image

    banner ads

    Categories

    • Business (934)
    • Economy (839)
    • Investing (3,840)
    • Politics (747)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: smarttradeinsights.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2026 smarttradeinsights.com | All Rights Reserved