Rio Tinto subsidiary Kennecott Exploration Company has started drilling on the Copper Gulch prospect of ASX-listed Alderan Resources’ Frisco project in Utah, in the US.
Alderan MD Scott Caithness explains that Copper Gulch is a porphyry copper target, about 500 m southwest of the copper-rich tourmaline beccias at the historical Cactus copper mine.
“Depth slices through the modelled magnetics indicate that the anomaly becomes more prominent at depth with a classic high magnetic core ringed by a magnetic low zone. It is further enhanced by anomalous copper in historical surface rock sampling, porphyry-style phyllic and potassic alteration plus pyrite, chalcopyrite and molybdenite mineralization in peripheral historical holes. The anomaly itself has never been previously drilled,” he said.
Kennecott Exploration has planned one hole to a depth of 500 m to test the magnetic anomaly, with potential for a second hole pending positive results.
The first hole is expected to be completed in July with assays likely by early in the fourth quarter.
Past drilling at Cactus includes intersections of 41 m at 1.9% copper, 0.62 g/t gold and 32 m at 1.2% copper and 0.3 g/t gold in tourmaline breccias.
Frisco is the subject of an option agreement between Kennecott Exploration and Alderan’s subsidiary Volantis Resources. Kennecott can earn up to 70% in Frisco by spending at least $30-million in three stages over ten years.