Aldrin Resource Corp.
TSX VENTURE : ALN

Aldrin Resource Corp.

January 15, 2014 06:00 ET

Aldrin Winter Exploration Program - 3,000 m Drill Program Approved

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 15, 2014) - Aldrin Resource Corp. ("Aldrin") (TSX VENTURE:ALN) is pleased to announce our winter uranium exploration plans for the 12,000 hectare Triple M Uranium Property. The center-piece of the program are plans for at least 3,000 m drilling testing our priority basement conductors. These basement conductor targets are located within the southeast block ("SE block") of the Triple M Property, which covers 1984 hectares. Aldrin's SE block is located adjacent to the south boundary of Fission Uranium's PLS discovery property at Patterson Lake, in the newly prospective southwestern region of the Athabasca Basin.

The SE block target area has good access, extending to within 500 m of Saskatchewan Highway 955, which is maintained year-round. Depth to the top of the target zone (top of basement) is expected to be relatively shallow, ranging from 75 m to 130 m across the SE block based on regional data compilation, including drill chips from a 1970s drill hole located 700 m west of the SE block boundary. Aldrin has received all required government drill permits and is prepared to start the program by February 2014.

Winter exploration program:

Aldrin's winter exploration program will begin with construction of a drill road and camp by the beginning of February. Using this access and camp, Aldrin plans to complete in-fill gravity and radon measurements over our priority target areas to further refine drill collar locations. Existing radon and gravity surveys were collected at 50 m spacing on 200 m spaced lines (see Aldrin news releases dated Nov. 14 and Dec. 4, 2013 for details on the radon and gravity surveys, respectively: http://www.aldrinresourcecorp.com). By in-filling those measurements in anomalous areas, Aldrin expects to increase anomaly resolution and enhance drilling success.

Drilling will test two priority basement conductive anomalies:

Drill target #1 is a conductive anomaly consistent with a steeply south-dipping plane that extends more than 3.5 kilometers striking east-northeast across the SE block. This steeply south-dipping planar conductor is interpreted as the extension of the Forrest Lake fault previously mapped by Saskatchewan government geologists. The fault plane parallels the richly uranium mineralized Patterson Lake discovery trend 10 km to the north. The drill target #1 conductor occurs within an area of relatively low magnetic susceptibility rocks comparable to the graphitic metapelites that host the Patterson Lake discovery and most other uranium mineralization in the Athabasca Basin region. Coincident positive radon anomalies occur in a zone a kilometer in length over or adjacent to the conductive anomaly trend. The most intense portion of the radon anomaly was detected on two successive lines 200 m apart. A gravity low anomaly occurs coincident with the positive radon anomaly. Such gravity lows can be caused by intense fluid alteration of bedrock, and are associated with high-grade uranium mineralization elsewhere in the Athabasca Basin.

In summary, Aldrin's drill target #1 represents a coincident geology (mapped fault), magnetic, electro-magnetic, gravity and radon anomaly that is interpreted to be a steeply south-dipping fault plane with evidence of strong fluid alteration (given the conductive and gravity low anomalies) and potential uranium mineralization (given the positive radon values).

Drill target #2 is a strong conductive anomaly that extends 2.5 kilometres striking east-northeast. It is oriented parallel to both drill target #1 described above and Fission Uranium's high-grade discovery at Patterson Lake. This strong conductive anomaly is consistent with a flat-lying conductor and occurs in relatively low magnetic susceptibility rocks. It is associated with positive radon anomalies, and a distinct gravity low trend. The strong conductive centre is flanked by sharp magnetic contacts which may indicate structural control. Similar features are associated with the Patterson Lake discovery, as well as most high-grade uranium mineralization from the Athabasca Basin.

Multiple drill holes will be used to test both drill targets described above. The holes are expected to average about 200 m in depth, although they may be continued deeper if the drill is evident mineralization.

Aldrin's CEO Johnathan More states, "We believe our drill targets on the SE block of the Triple M Property provide some of the strongest possibilities for discovery of any that will be tested this year by the various companies exploring the southwestern Athabasca Basin region. We are excited to be starting our winter program when we expect to drill our first test holes."

Harrison Cookenboo, Ph.D., and P.Geo., is Vice President, Exploration and Development for Aldrin, and 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 OF DIRECTORS

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
    604-662-3904 (FAX)