Aldrin Resource Corp.
TSX VENTURE : ALN

Aldrin Resource Corp.

July 28, 2011 09:15 ET

Aldrin to Commence Diamond Core Drilling at IND Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 28, 2011) - Aldrin Resource Corp. ("Aldrin") (TSX VENTURE:ALN) is pleased to update shareholders following 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 2011 trench program was a follow-up to the earlier trench programs and was designed to better define the mineralized zones and guide the orientation of the 2011 diamond drill program. The 2011 trench program, consisting of almost two-kilometres of excavation in 14-trenches, has outlined three anomalous gold zones that are structurally controlled in what appears to be northeast-trending sheeted zones. The zones are referred to as the east, middle and west zones and values in the trenches include numerous samples containing gold values greater than 100 ppb with one sample over 1 gram per ton and several in the 0.5 gram per ton range.

During the first week in August, 2011, Aldrin will begin a diamond core drill program that will test the down-dip potential of the three mineralized structural zones. The drill project will consist of approximately 2,000-metres in seven to eight holes. The drill program is expected to be completed in early September.

Trench results in the east zone indicate that the interpreted sheeted fracture system is at least 60-metres in width and several hundred metres in length where exposed by the trench program. At least three holes are scheduled to evaluate the east fracture zone. The middle zone is located approximately 820-metres west of the east zone and is defined by three trenches which exposed structurally controlled mineralized rock in at least one 80-metre wide zone. This zone contained one 5-metre chip sample that assayed 1.1 grams per ton gold. One or two drill holes will test the continuity of mineralization in this area. Four long trenches were oriented in the west zone which is located 480-metres west of the middle zone. The trenches were excavated to test highly anomalous gold mineralization encountered in an earlier 2009 trench program by Ryanwood Exploration. Several continuous anomalous zones were encountered in the 2011 trenches including one zone that averaged greater than 300 ppb over 25-metres in width. Twenty-one channel chip samples returned gold values greater than 100 ppb. At least three drill holes will test the west mineralized zone.

During the 2010 field season, Aldrin excavated 685-metres in two trenches and confirmed the earlier trench sampling work by Ryanwood Exploration. Channel chip sampling from these 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.

The IND property was originally identified by Yukon prospector Shawn Ryan of Ryanwood Exploration of Dawson City as part of a regional soil reconnaissance program designed to evaluate the bedrock potential of ground which is proximal to numerous placer operations including the Indian River placers and the historic Bonanza/El Dorado Creek placers. Because the soil sampling program identified a large anomalous gold area, Ryanwood excavated three shallow trenches during the 2009 field season to evaluate a continuous gold-bismuth soil anomaly.

Ryanwood's trench program verified the soil anomaly and select grab samples from the trenches returned assays of over 1 gram per ton gold, with one sample showing 3.7 grams per ton. Geologic mapping indicates subtle zones of sheeted fractures in the granite host rock which appear 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 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.

CEO Johnathan More states, "We are very excited to be commencing diamond drilling in the vicinity of the original prolific Klondike placer discoveries of a century ago. It was important for us to carry out the expanded trenching in advance of drilling to gain greater clarity about the orientation and size of the large gold anomalies at IND. The continuing assistance and guidance from Shawn Ryan has been exceptional."

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. Aldrin 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)