Aldrin Resource Corp.
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Aldrin Resource Corp.

June 15, 2016 09:15 ET

Aldrin Begins 2016 Field Exploration Program on the Triple M Property

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 15, 2016) - Aldrin Resource Corp ("Aldrin" or the "Company"); (TSX VENTURE:ALN)(FRANKFURT:OAA)(OTC PINK:AOUFF) is pleased to announce commencement of the 2016 field exploration program on the Triple M Property ("Triple M") in the Patterson Lake area of the Athabasca Basin. Aldrin is beginning the 2016 Triple M exploration program with a deep penetrating electromagnetic (EM) and magnetic airborne geophysical survey, covering the projected extension of the highly mineralized structural trend that hosts Fission Uranium Corp's high-grade Patterson Lake (Triple R) uranium deposit, 15 km to the northeast. The same structural trend also host's Nexgen Energy Ltd's another 5 kms further northeast.

Aldrin contracted Geotech to fly the geophysical survey using their helicopter-borne, deep-penetrating ZTEM system, which is already in the area conducting similar surveys for nearby uranium exploration groups. The primary goal of the survey is to identify potential deep-seated basement conductors that may be associated with uranium mineralization where the high-grade structure hosting both Fission Uranium and Nexgen's Patterson Lake projects intersects the western claims block of Aldrin's Triple M Property.

Aldrin's primary focus remains completion of a follow-up drill program on the Anticline Target in the southeast claims block of the Triple M Property, located adjacent to Fission Uranium's Patterson Lake (PLS) Property and its contained Triple R uranium deposit. Aldrin's first drill hole into the high-priority Anticline Target demonstrated uranium mineralized at multiple levels. Drill hole ALN14-008 intersected uranium mineralization over significant intervals including (see details in a news release dated June 27, 2014):

  1. 53.4 ppm U over 10.0 m between 178.0 and 188.0 m, including a higher value zone of 148.7 ppm U over 1.5 m between 182.5 and 184.0 m;

  2. 273 ppm U over 0.5 m between 235.0 and 235.5 m;

  3. 97.4 ppm U over 3.5 m between 243.0 and 246.5 m, including a higher value zone of 144.8 ppm U over 2.0 m between 243.5 and 245.5 m

Aldrin believes the initial drill results on the Anticline Target are consistent with being in the halo of a potential high-grade uranium discovery. To date, only the margin of the Anticline Target basement conductor has been drill tested. Aldrin remains focused on a summer/fall drill program to test the heart of the 2.5 km long conductor target.

Key Lake Property Package JV Option terminated

Aldrin has chosen to terminate the JV option agreement with Fission 3.0 Corp. on the Key Lake Property Package in the southeastern Athabasca Basin Region, in order to focus on our Triple M Property. Aldrin considers the Triple M Property our highest priority, due to its advanced and mineralized Anticline drill target, as well as its proximity to the new high-grade deposits at Patterson Lake. Aldrin thus has elected to focus its resources on the 2016 Triple M drill program to follow-up our initial success at the Anticline Target.

Harrison Cookenboo, Ph.D., P.Geo., is a Qualified Person (QP) by the standards of National Instrument 43-101. He has reviewed the technical data described above and approves the contents of this news release.

ON BEHALF OF THE BOARD

Rob Dardi, Chairman and Director

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.
    646-661-0409