Aldrin Resource Corp.
TSX VENTURE : ALN

Aldrin Resource Corp.

August 18, 2010 09:15 ET

Aldrin Begins Drilling at Longline Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 18, 2010) - Aldrin Resource Corp. (TSX VENTURE:ALN) (the "Company" or "Aldrin") is pleased to announce that core drilling has begun on the Company's Longline gold project, located in the Dawson mining district of the Yukon approximately 60-kilometres west of the Kinross's White Gold deposit. The Company's initial focus will be on drilling a north eastern structure that showed gold values in quartz vein material of up to 2.04 g/t Au. The Company recently added 67 quartz claims to the Longline project, bringing the entire property holdings to 263 quartz mining claims.

CEO Johnathan More comments: "Aldrin is optimistic about the potential for discovery on its Longline project given the occurrence of an extensive gold in soil anomaly containing gold-bearing quartz veins. Furthermore, the Longline project is proximal to some of the richest gold placer deposits in the Yukon." Aldrin holds an option to acquire a 100% interest in the Longline property from Ryanwood Exploration Inc.

Three gold in soil anomalies (North, Central and South) have been identified on the Longline property. The anomalies are up to 1.8 kilometres long by up to 500 metres wide. The zone containing the three anomalies is nearly 12 kilometres in length in a north-south alignment. The property is situated 30 miles from the Alaskan Hwy and has winter road accessibility. There is an airstrip within 3 kilometres of the property.

Prior to beginning this field season's drilling program, a soil sampling and reconnaissance geological mapping program was completed and approximately 300 samples were collected from shallow prospect pits and float material. The shallow pits were excavated within the North and South anomalies previously defined by Ryanwood Exploration and is coincident with a magnetic geophysical anomaly. Soil samples from a close-spaced grid are being collected at this time from the Central anomaly.

Outcrop is non-existent on the Longline property. The terrain is essentially flat and unglaciated and the quartz boulder material is either in-situ or has not been transported any significant distance. Quartz vein float material was discovered during this season's exploration work that appears to be derived from a northeast trending structure. The structure is approximately 30-metres wide by 500-metres in length. Trenching in the vicinity of a large block of the quartz boulder material suggests that the structure is shallow-dipping and two samples collected from float material returned values of 1.85 and 2.04 grams per ton gold with arsenic in the 6,000 ppm range. The first drill holes will be aligned to test this structure.

Host rock in the Longline property appears to be a multi-phase intrusive complex of medium-grained, equigranular hornblende-biotite granodiorite cut by younger felsic and mafic dikes and quartz veins. Mineralization includes sulfides and iron oxides which occur in narrow laminae within the quartz boulders and intrusive host rock. Concentrations of sulfides vary from trace amounts to greater than 10% within the quartz boulders. Disseminated sulfides also occur in the wall rocks adjacent to the veining.

The Longline property is located in a very prospective area and is proximal to some of the richest gold placer deposits in the Yukon. Numerous active placer mines occur down slope from the Longline claim block, both in the Yukon and on the Alaska side of the border. Some of these placer mines have been in continuous operation for over 25-years. Located up drainage from producing placer deposits and coupled with the occurrence of an extensive gold in soil anomaly containing gold-bearing quartz veins, Aldrin is optimistic about the potential for discovery on its Longline project.

Aldrin's disclosure of a technical or scientific nature in this press release has been reviewed and approved by Bert W. Jeffries, Aldrin's vice-president of exploration and development, who serves as a qualified person under the definition of National Instrument 43-101. The Longline property represents an early stage exploration property and does not contain any mineral resources as defined by National Instrument 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS

"Johnathan More"
Johnathan More, President and CEO

Issued Share Capital: 36,200,000

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Aldrin Resource Corp.
    Johnathan More
    President and CEO
    604-687-7741
    604-681-0796 (FAX)