Aldrin Resource Corp.
TSX VENTURE : ALN

Aldrin Resource Corp.

October 27, 2011 09:30 ET

Aldrin Receives Assays From IND Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 27, 2011) - Aldrin Resource Corp. ("Aldrin") (TSX VENTURE:ALN) reports that it has received assays of samples derived from its initial diamond core drilling on its 100% owned IND project. Located 38 kilometres south of Dawson in the heart of the prolific Klondike mining district of the Yukon Territory, the 27 square kilometre property is proximal to numerous placer operations including the Indian River placers and is situated 14 kilometres southwest of the famous Bonanza Creek and Eldorado Creek placers. The Klondike mining district hosted the famous Yukon Gold Rush that started in 1896. The IND project is accessible by vehicle on good secondary roads.

The host rock underlying the IND project is a biotite-garnet bearing granite with pegmatite and aplite dikes. The granite intrudes metasediments which occur as enclaves and roof pendants within the granite pluton. Several styles of quartz veins occur within the granite and appear to be contained within sheeted zones of undetermined width.

The 2011 summer diamond drill program was a limited program of seven holes designed to test the down-dip potential of three large mineralized structural zones identified in over 3 km of trenches which were excavated between 2009 and 2011. The 2011 seven hole drill program totalled 1377 metres from which 844 samples from the drill core were submitted for assay.

During the 2010 and 2011 field season, Aldrin excavated extensive trenches to confirm the earlier trench sampling work by Shawn Ryan of Ryanwood Exploration. Earlier channel chip sampling from the 2010 trenches returned several samples with gold values above 1 gram per ton with one grab sample of silicified, fractured, quartz-bearing host rock returning values of 12.46 grams per ton gold over 0.3 metres and several 5-metre sample intervals reported values greater than 4 grams per ton. Geologic mapping has indicated subtle zones of sheeted fractures in the granite host rock which appear to be continuous.

Three of the seven holes were drilled to evaluate the east fracture system of IND which is at least 60-metres in length. The middle zone of IND, approximately 820-metres west of the east zone, consists of structurally controlled mineralized rock in at least one 80-metre wide zone which was identified in the trench program and was tested with one diamond drill hole. The western mineralized zone, located 480-metres west of the middle zone, has several continuous anomalous zones which were identified in the trench program and was tested by three test drill holes. All holes were drilled to 190 to 200-metres depth.

The three holes drilled in the east mineralized zone encountered scattered discontinuous gold values including intercepts of greater than 2 grams per ton gold as well as over 4 grams per ton gold. The three holes also returned numerous intercepts of gold values greater than 200 ppb.

A sampling of results in the east mineralized zone are as follows:

Hole No. From (m) To (m) Width (m) Au g per ton
IND 11-07 87.1 88.6 1.5 4.34
IND 11-05 22.6 24.1 1.5 2.44
IND 11-05 10.6 12.1 1.5 2.41
IND 11-05 27.1 28.6 1.5 1.16
IND 11-06 117.1 118.6 1.5 1.04

Holes drilled in the middle and west zones also encountered discontinuous gold values with several numbers in the 1 gram per ton range.

Aldrin will be generating structural models from the drill and trench results to further evaluate the IND project. The results confirm the original conclusion that there is significant structurally-controlled gold mineralization within the claim block and a clear connective relationship between the chip sample assays and the corresponding related drill core results. Aldrin continues to be well financed, debt-free and on budget.

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

Aldrin Resource Corporation is a Canadian-based mineral exploration company trading on the TSX Venture Exchange. The company is focused on the development and exploration of strategic gold properties located in Canada's rapidly developing Yukon Territory and in the state of Nevada, USA.

ON BEHALF OF THE BOARD OF DIRECTORS

Johnathan More, President and CEO

Issued Share Capital: 40,050,000

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
    604-662-3904 (FAX)