Aldrin Resource Corp.

TSX VENTURE : ALN


Aldrin Resource Corp.

April 22, 2014 09:00 ET

Aldrin Provides Drilling Update-Strong Alteration and Graphitic Fault Zone With Elevated Counts in First 4 Drill Holes

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 22, 2014) - Aldrin Resource Corp. ("Aldrin") (TSX VENTURE:ALN) is pleased to report that the initial four (4) drill holes on its Triple M Property in northern Saskatchewan have intersected alteration, structures, and breccias zones within a metasedimentary rock succession including elevated radioactivity counts in a graphitic fault zone. Such encouraging results are consistent with possible nearby mineralization. The drill started turning on March 25, and after completing the fourth hole is now temporarily suspended for snow melt, but is expected to resume within as little as 2 weeks as the weather warms and the field site dries out. To date, less than 25% of the planned 4,000 m drill program has been completed.

Aldrin's Triple M Property is adjacent to Fission Uranium Corporation's spectacular high-grade uranium discovery at Patterson Lake which occurs on structures parallel to our targets.

The completed drill holes have focussed on the Forrest Lake Fault target, and have intersected locally brecciated pelitic gneiss, with extensive chlorite and pyrite alteration. The last completed hole (ALN140-004; total depth 339.4 m) intersected two graphitic fault zones with elevated radioactivity as detected by handheld scintillometers (model RS125). At least the next four drill holes will test the same Forrest Lake Fault zone along strike, moving towards the most intense part of the basement conductive anomaly following resumption of the program. Depth to basement on the Triple M Property is shallow by Athabasca Basin standards at between 135 and 145 m.

Following completion of the next four drill tests of the Forrest Lake Fault, the program will then move to the Anticline target, which features a strong sub-horizontal conductor, with coincident gravity low and radon high anomalies. The Anticline Target is on land and like the Forrest Lake Fault target will be accessible to drilling, once the ground dries out.

Samples of the pelitic gneiss, breccia, and graphitic fault zones have been delivered to the Saskatchewan Research Council laboratory in Saskatoon for analyses, which will be reported as soon as available.

Harrison Cookenboo, Ph.D., P. Geo and Aldrin's Vice President of Exploration and Development remarked, "I am pleased that we have intersected encouraging chlorite, pyrite and hematite alteration, as well as graphitic fault and breccias zones already in our first few drill holes. With less than 25% of the drill program completed, we are seeing the basement conditions consistent with possible nearby mineralization. I remain very encouraged regarding what we may discover when we resume drilling after the snow melts over the next couple weeks."

Dr. Cookenboo 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

Johnathan More, CEO 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.
    (604) 687-7741
    (604) 681-0796 (FAX)