Next Investors logo grey

Aldoro to commence drilling at Penny South in January


Published 10-DEC-2019 10:12 A.M.


1 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

Aldoro Resources Limited (ASX:ARN) has received approval for its Program of Work (POW) relating to the company’s maiden drilling program at the Penny South Gold Project in Western Australia.

A preliminary 5000 metre aircore (AC) campaign is schedule to commence in the second week of January 2020 and should take approximately 3 weeks to complete.

This first pass program aims to test the magnetic low corridor, interpreted as the strike extension of the Penny West Shear by the company’s recent targeting work.

Approximately 100 holes are planned at 100 metre x 25 metre spacing along two kilometres of strike.

Identifying similar mineralisation to nearby deposits

Aldoro will conduct sample analysis for gold and multi-element geochemistry for pathfinder elements known to be associated with mineralisation at the neighbouring Penny West and Penny North deposits.

The Penny South Gold Project is contiguous to Spectrum Metals’ (ASX:SPX) Penny West Project in the Youanmi Gold Mining District in the Murchison Region of Western Australia.

Next Investors Image

Commenting on this latest development, Aldoro’s managing director Caedmon Marriott said, “It is exciting to be moving ahead with our maiden drilling campaign at Penny South.

‘’The first pass program aims to test for shallow mineralisation in this target corridor that hasn’t adequately been tested by historic drilling.

‘’Also, we’ll be testing for combinations of gold and pathfinder elements, lithology and alteration, as indications of potential deeper mineralisation to be tested by a subsequent follow up program.”

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.