Aldrin Resource Corp.
TSX VENTURE : ALN

Aldrin Resource Corp.

June 24, 2011 09:30 ET

Aldrin Reports on Trench Expansion at IND Project-Reacquires 100% Interest in Brew Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2011) - Aldrin Resource Corp. ("Aldrin") (TSX VENTURE:ALN) is pleased to update shareholders on its expansion of trench sampling 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 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 project is accessible by vehicle on good secondary roads. The expansion trenching currently underway follows on very encouraging results from assay results from trench sampling completed in September 2010 on the IND project.

In June of this year, Aldrin has successfully completed 13 additional trenches measuring two kilometres in distance and all samples collected from the trenches are currently being assayed. Originally intending a program of a minimum additional five trenches the positive indicators led to substantially more targeted trenching. Our new trench program is designed to intercept sheeted gold mineralization encountered in trenches previously excavated in 2009 and 2010. We also want to determine the orientation and strike length of the system. Our latest trench expansion program at IND will be followed with a diamond core drill program designed to test the down-dip potential and width of the gold-bearing sheeted structures. The trench program will have determined the orientation of the core holes and how many holes will be drilled.

By way of history, Aldrin completed excavation of 682 metres of trenches on two locations on the property in late summer of 2010 (Trench 4 and Trench 5). The two trenches were designed to determine the orientation of inferred structures that were identified in a 2009 trench exploration program. The 2009 trench program suggested that the trenches may have been excavated sub parallel to the strike of sheeted structures. Trench 4 is 305-metres in length and was oriented to cross the inferred structures and Trench 4 encountered significant gold mineralization in several zones, including a select sample of a quartz-bearing structure that returned an assay of 12.46 grams per tonne gold.

A weighted average summary of a portion of Trench 4 results follow:

Location (metres)FromToLengthAu grams/tonne
0551.186
5666101.02
5676200.587
58.759.312.46
205220150.821
28028554.05
280290102.094

In addition to these results, Trench 4 contained 15 samples with results greater than 100 ppb Au. The results from Trench 4 confirm the original 2009 exploration results and Aldrin's current expansion work on the IND project includes extending Trench 4 to the east to determine the extent of the first anomaly encountered at the beginning of the trench which returned an assay of 1.186 grams gold per tonne. In addition to the high grade results, the trench encountered numerous lower grade continuous auriferous intervals over the entire length of the trench.

The IND project was originally staked by Ryanwood Exploration Inc., a Shawn Ryan company. Aldrin is earning a 100% interest in the property under an option agreement with Ryanwood. The property was identified by Ryanwood as part of a regional soil reconnaissance program designed to evaluate the bedrock potential of ground which is proximal to the numerous placer operations. Following the soil sampling program by Ryanwood which identified a very large anomalous gold area, Ryanwood excavated three shallow trenches during the 2009 field season to evaluate a continuous gold-bismuth soil anomaly. The trench program verified the soil anomaly and select grab samples from the trenches returned assays of over 1 gram per tonne gold, with one sample at 3.7 grams per tonne. Geologic mapping indicated subtle zones of sheeted fractures in the granite host rock which appeared to be continuous. 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 possible 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. Gold mineralization is apparently related to these sheeted zones, but may not be restricted to these zones. The deposit model appears to be that of the Fort Knox and Dublin Gulch gold deposits.

Aldrin also advises that it has reacquired the 50% joint venture interest in the Brew Property that was being earned by Expedition Mining Inc. and Aldrin now holds 100% of the Brew project. The Brew Property is located in the White Gold District of the Yukon Territory and is 20 kilometres from the Kinross/Underworld White Gold project. The Brew property is approximately 70 square kilometres or 17,250 acres and was originally staked by Ryanwood. The Brew project contains a large gold-in-soil anomaly that coincides with arsenic, antimony and base metal elements located in three zones that appear to be related to a strong northwest-trending fault system that is likely associated with regional structures thought to control mineralization on other active prospects in the White district. The Brew property gold-in-soil anomaly is now over two kilometres in length, and surface metal values indicate a width of up to one kilometre.

CEO Johnathan More states, "We are happy to be starting the new season of our program on such an exciting prospect as the IND project. The very large gold anomaly at IND and the high grade trenching numbers we achieved last season has given us an obvious focus this season. Along with the IND and its other projects in the Yukon Aldrin continues to advance its strategy in the Yukon Territory of seeking lode gold mines in the vicinity of major placer producing areas. The fact that the IND is in the vicinity of the original Klondike placer discoveries of more than a century ago adds to our anticipation. We are also excited to reacquire the balance of the Brew project and have that additional foothold in the White Gold District. We are grateful for the continuing assistance from Shawn Ryan. We remain in a strong cash position."

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 Corp. 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: 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)