http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Wed, 18 Jul 2018 05:13:02 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Andromeda Metals signs $5 million earn-in to reinvigorate copper-gold exploration ]]> http://www.proactiveinvestors.com.au/companies/news/195008/andromeda-metals-signs-5-million-earn-in-to-reinvigorate-copper-gold-exploration-195008.html Andromeda Metals Ltd (ASX:AND) has signed a deal with Minotaur Exploration (ASX:MEP) to form a joint venture over its fully-owned Rover Copper-Gold Project tenements in the Northern Territory.

Minotaur will solely fund up to $5 million through a staged earn-in over a maximum six-year period to earn up to 75% equity.

READ: Andromeda Metals receives promising drill results at Bunyip gold prospect

The Rover Project comprises two wholly owned tenements located 85 kilometres by road to the southwest of Tennant Creek.

Andromeda completed an extensive past exploration program on its Rover tenements, discovering deposits of copper and gold at the Rover 4 and Rover 1 prospects.

Minotaur’s on-ground exploration will commence next week

It is worth noting that Minotaur’s exploration team discovered the world-class Prominent Hill copper-gold deposit in 2001 and specialises in the search for iron-oxide hosted copper gold deposits such as those which occur at Rover.

The deal will result in the implementation of a reinvigorated exploration effort on the highly prospective Rover land holding.

Minotaur’s first on-ground exploration at Rover will commence next week with a trial electromagnetic survey to be undertaken to determine if the technique has application in the Rover Field.

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Mon, 16 Apr 2018 15:41:00 +1000 http://www.proactiveinvestors.com.au/companies/news/195008/andromeda-metals-signs-5-million-earn-in-to-reinvigorate-copper-gold-exploration-195008.html
<![CDATA[News - Andromeda Metals receives promising drill results at Bunyip gold prospect ]]> http://www.proactiveinvestors.com.au/companies/news/193658/andromeda-metals-receives-promising-drill-results-at-bunyip-gold-prospect-193658.html Andromeda Metals Ltd (ADN) has released promising assay results from the first seven holes of its maiden drilling program at the Bunyip gold prospect.

This is within the Drummond Epithermal Gold Project in Queensland, and these results have confirmed the presence of significant gold mineralisation at depth.

One of the better intersections was 4 metres at 5.15 g/t gold.

Exploration points to large epithermal mineral system

The assay results and geological observations made to date indicate that Bunyip is an epithermal mineral system of substantial size, containing some wide quartz veins.

Management said that the style of mineralisation is the same as the nearby Pajingo and Wirralie deposits.

They have resources of more than 3 million ounces and 1.1 million ounces respectively.

All holes yield positive results

All 16 holes drilled to date have encountered one or more intervals of quartz veining, with downhole dimensions of individual veins reaching a maximum of around six metres.

The drilling program is continuing at Bunyip, with additional holes designed to test other targets around the prospect.

Assaying of drill samples is ongoing with further results anticipated to be available in April.

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Fri, 23 Mar 2018 10:05:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193658/andromeda-metals-receives-promising-drill-results-at-bunyip-gold-prospect-193658.html
<![CDATA[News - Adelaide Resources Ltd to begin drilling for gold at Eyre Peninsula ]]> http://www.proactiveinvestors.com.au/companies/news/166262/adelaide-resources-ltd-to-begin-drilling-for-gold-at-eyre-peninsula-71148.html Adelaide Resources Ltd (ASX:ADN) will begin a drilling program in the first week of October, focused on the Baggy Green prospect at the company’s Eyre Peninsula gold project.

The Eyre Peninsula gold project comprises eight tenements which cover 2,807 square kilometres in the Central Gawler Gold Province in South Australia.

The program aims to build on the maiden 107,000 ounces gold mineral resource announced in July 2016 for the Barns deposit, located 5.5 kilometres northwest of Baggy Green.

The drilling at a southern target at Baggy Green will test a gently dipping zone of mineralisation where historical intersections include 11 metres at 3.55 g/t gold.

Baggy Green could potentially deliver additional resources that are both material in magnitude and which can commence at relatively shallow depths below surface.

Last month, Adelaide was awarded two PACE discovery drilling grants of up to $290,000 by the South Australian Government.

The co-funding grant will see drilling completed at Baggy Green, Empire, Barns West and Barns South - four prospects which have returned historical gold intersections.

Additionally, Adelaide is progressing the Thurlga JV with Investigator Resources Ltd (ASX:IVR) to explore an Eyre Peninsula tenement for silver, gold and other minerals.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 22 Sep 2016 07:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/166262/adelaide-resources-ltd-to-begin-drilling-for-gold-at-eyre-peninsula-71148.html
<![CDATA[News - Adelaide Resources Ltd secures $290,000 for Eyre Peninsula drilling ]]> http://www.proactiveinvestors.com.au/companies/news/165432/adelaide-resources-ltd-secures-290000-for-eyre-peninsula-drilling-70477.html Adelaide Resources Ltd (ASX:ADN) is well positioned to advance its Eyre Peninsula projects following the award of two PACE discovery drilling grants of up to $290,000 by the South Australian Government.

Significantly, changes made to the PACE scheme for 2016 increases both the maximum grant value and broaden the base of claimable items to include elements such as assays.

The first grant is for up to $200,000 to test gold targets located in the vicinity of the Barns gold deposit where Adelaide recently announced a maiden resource of 107,000 ounces gold.

The co-funding grant will see drilling completed at Baggy Green, Empire, Barns West and Barns South - four prospects which returned gold intersections in drill holes completed more than ten years ago.

Targets to be tested at Baggy Green and Empire include anomalies defined by biogeochemistry and field portable x-ray fluorescence (FPXRF) soil geochemistry.

Adelaide is looking to advance its R&D program which is investigating the use of biogeochemistry and FPXRF as new exploration methods in the district.

Additionally, the company’s Thurlga JV with Investigator Resources Ltd (ASX:IVR) is exploring an Eyre Peninsula tenement for silver, gold and other minerals.

The second grant of up to $90,000 will see the JV drill six recently defined geochemical and geophysical targets.

 

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Tue, 16 Aug 2016 16:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165432/adelaide-resources-ltd-secures-290000-for-eyre-peninsula-drilling-70477.html
<![CDATA[News - Adelaide Resources Ltd to boost cash for gold and lithium exploration ]]> http://www.proactiveinvestors.com.au/companies/news/147874/adelaide-resources-ltd-to-boost-cash-for-gold-and-lithium-exploration-69832.html Adelaide Resources Ltd (ASX:ADN) has a main focus on gold in Australia, and recently complimented this with some lithium activity.

Adelaide is now heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Tuesday 19th July 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 15 Jul 2016 11:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147874/adelaide-resources-ltd-to-boost-cash-for-gold-and-lithium-exploration-69832.html
<![CDATA[News - Adelaide Resources Ltd expands lithium portfolio in South Australia ]]> http://www.proactiveinvestors.com.au/companies/news/147873/adelaide-resources-ltd-expands-lithium-portfolio-in-south-australia-68907.html Adelaide Resources Ltd (ASX:ADN) is expanding its existing lithium brine portfolio with the Lake Acraman and Lake Gilles lakes in South Australia.

It has applied for exploration tenure at the previously unexplored Lake Florence and Lake Killamperpunna, both located east of Lake Eyre.

The two lakes may have the potential to hold lithium-rich brines due to the high concentration of lithium in the lake areas.

Adelaide Resources’ lithium exploration interests are in addition to its focus on Australian gold exploration activities in South Australia, Queensland and the Northern Territories.

Meanwhile, there is potential for an economic project at the company’s wholly owned Barns gold deposit in the Eyre Peninsula in South Australia.

Earlier this month, a scoping study of the deposit concluded that the deposit could prove to be profitable assuming an A$1,500 gold price and suitable assumptions for capex, recovery and operating costs.

There is potential for resource estimates in the second half of 2016 for the Barns deposit, White Tank and possibly the Baggy Green project in Eyre Peninsula. Exploration target assumes 2.5 - 3.5 million tonnes grading 1.3 g/t to 2.0 g/t for total contained gold of circa 100 kilo ounces to 225 kilo ounces.

Adelaide Resources held cash of $702,000 as at end March 2016.

Adelaide Resources shares are currently trading higher at $0.019. The shares have lifted from a low of $0.01 on January 18, 2016.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 30 May 2016 15:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147873/adelaide-resources-ltd-expands-lithium-portfolio-in-south-australia-68907.html
<![CDATA[News - Adelaide Resources Ltd study firms up gold potential at Eyre Peninsula ]]> http://www.proactiveinvestors.com.au/companies/news/147872/adelaide-resources-ltd-study-firms-up-gold-potential-at-eyre-peninsula-68621.html Adelaide Resources Ltd (ASX:ADN) could be sitting on a proverbial gold mine at the Barns gold deposit in the Eyre Peninsula gold project, South Australia, based on promising results from an updated scoping study.

At an A$1,500 per ounce gold price and based on operating cost, capital and recovery assumptions, the study indicates positive economic potential.

It also identifiee the improvements necessary to generate robust economics.

The company undertook an in-house revision of the 3-D mineralisation model for Barns revealing two flat lying supergene gold zones overlying stacked sub-parallel primary lodes.

Independent experts have completed 3-D block modelling and estimated a non-JORC mineral inventory which supports the potential for gold mining operations.

Significantly, a first pass pit optimisation run assuming A$1,500 per ounce gold price and reasonable capital and operating costs, indicated a positive economic potential for the project.

While this scoping study is at a very high level, the results provide confidence for Adelaide Resources to advance the project.

In October 2015, Adelaide Resources had announced a combined exploration target for the Barns, White Tank and Baggy Green prospects between 2.5 and 3.5 million tonnes grading 1.3g/t to 2.0g/t gold.

The company aims to establish a gold resource for the Eyre Peninsula gold project comparable to other South Australian deposits, including Havilah Resources Ltd’s (ASX:HAV) operating Portia Gold Mine.

Adding interest, Adelaide Resources is exploring the Eyre Peninsula for lithium as well, where the company holds granted exploration tenures over two salt lakes prospective for lithium.

The share price of Adelaide Resources has surged by about 90% during the last three months.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 16 May 2016 14:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147872/adelaide-resources-ltd-study-firms-up-gold-potential-at-eyre-peninsula-68621.html
<![CDATA[News - Adelaide Resources Ltd to test salt lakes in South Australia for lithium ]]> http://www.proactiveinvestors.com.au/companies/news/147871/adelaide-resources-ltd-to-test-salt-lakes-in-south-australia-for-lithium-68308.html Adelaide Resources (ASX:ADN) has secured exploration tenure over a potential lithium brine play in South Australia to complement the application made earlier in 2016 for a hard rock lithium opportunity at the Davenport Ranges in the Northern Territory.

Adelaide’s exploration licence application at Lake Gilles covers an area of 232 square kilometres on the Eyre Peninsula in South Australia, which has been identified by Geoscience Australia as having potential for lithium brines.

The company already holds a granted exploration title over a part of Lake Acraman, a second Eyre Peninsula salt lake that may also have lithium brine potential.

Adelaide has planned a preliminary program aimed at sampling and analysing the brine and lake sediments at Lake Acraman.

Worldwide, lithium is extracted from two principal sources - hard rock deposits and lithium brines associated with salt lakes.

Adelaide’s applications at the Davenport Ranges in the Northern Territory has potential hard rock lithium occurrences.

The company is planning a field trip to the Davenport Ranges in early May to sample two historical tantalum-niobium-tungsten-tin prospects to determine if hard-rock lithium mineralization is present.

Adelaide Resources’ lithium exploration programme is complementary to the company’s ongoing gold exploration programs in the Drummond Basin, Queensland and on the Eyre Peninsula.

Adelaide’s share price has doubled since February 2016.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 28 Apr 2016 09:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147871/adelaide-resources-ltd-to-test-salt-lakes-in-south-australia-for-lithium-68308.html
<![CDATA[News - Adelaide Resources marks broad gold-silver hits at Drummond ]]> http://www.proactiveinvestors.com.au/companies/news/147870/adelaide-resources-marks-broad-gold-silver-hits-at-drummond-65252.html The latest drilling at Adelaide Resources’ (ASX:ADN) Drummond project in Queensland has returned broad intervals of gold and silver interpreted as indicators of a mineralised system similar to large known deposits in the region.

Work at the project’s South West Limey Dam gold-bearing epithermal prospect delivered gold results including 16.8 metres at 0.18g/t, 17.7 metres at 0.17g/t, 19.0 metres at 0.19g/t, and 5.2 metres at 0.34g/t.

Silver results included 96.5 metres at 1.01g/t, 19.4 metres at 0.92g/t, 36.2 metres at 0.91g/t, and 6.3 metres at 1.61g/t.

A field review completed by respected epithermal specialist consultant Dr Gregg Morrison interprets the South West Limey Dam prospect to be a classic hotspring geothermal-epithermal system.

Morrison interprets the long intervals of low grade gold and silver in the latest holes as good indicators of the system being active and mineralised, but from the upper part of the system
above the target high grade gold feeder vein zone.

The finding also suggested the prospect model contains good analogues with significant deposits both in the region and internationally.

In the Pajingo Field, for example, Evolution Mining’s (ASX:EVN) Camembert and Moonlight prospects are hotspring systems with underlying veins hosted in the same stratigraphic units seen in the South West Limey Dam area.

Elsewhere in the Drummond Basin, Wirralie (1.02Moz), Yandan (365koz), and Glen Eva (60koz) are gold deposits of the same style and hosted in the same stratigraphic package as South West Limey Dam. Internationally,

Morrison cites the 1Moz Golden Promise mine in the U.S. state of Washington and the 13Moz Fruta del Norte deposit in Ecuador as deposits of similar character to South West Limey Dam.

The South West Limey Dam results follow quickly on rock chip sampling work at the Drummond project’s Buyip target, where an area of with more than 800 metres of strike produced assays of 5.16g/t, 0.23g/t, 0.23g/t and 0.12g/t gold.




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Fri, 23 Oct 2015 16:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147870/adelaide-resources-marks-broad-gold-silver-hits-at-drummond-65252.html
<![CDATA[News - Adelaide Resources finds new gold target at Queensland project ]]> http://www.proactiveinvestors.com.au/companies/news/147869/adelaide-resources-finds-new-gold-target-at-queensland-project-64822.html Adelaide Resources (ASX:ADN) has defined the new Bunyip epithermal gold target at its Drummond tenements in Queensland that extends for over 800 metres of strike.

Rock chip samples record anomalous levels of gold with individual assays including 5.16 grams per tonne, 0.23g/t, 0.23g/t and 0.12g/t gold.

Epithermal pathfinder metals are enriched with arsenic to 330ppm and molybdenum to 70ppm.

Bunyip was defined by o-ground prospecting, rock chip sampling and FPXRF soil geochemistry.

Further low-cost surface exploration, including infill FPXRF soil geochemistry, geological mapping and additional rock chip sampling, is now planned to provide greater detail leading to the design of an exploration drill programme at Bunyip.

The company will also seek the various authorisations, including aboriginal work area clearance, which are required before drilling can be undertaken. 

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 29 Sep 2015 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147869/adelaide-resources-finds-new-gold-target-at-queensland-project-64822.html
<![CDATA[News - Adelaide Resources to raise capital ]]> http://www.proactiveinvestors.com.au/companies/news/147868/adelaide-resources-to-raise-capital-64668.html Adelaide Resources (ASX:ADN) has been granted an ASX trading halt in relation to a capital raising.

The halt will last until the earlier of the announcement being made or the commencement of trading on Thursday, 24th September 2015.

Yesterday, the company intersected 0.71 metres at 9.11 grams per tonne gold in initial shallow diamond drill holes at the South West Limey Dam prospect in the Drummond Basin, Queensland.

It is continuing drilling at its Drummond tenements.

In July, drilling at the Barns and Baggy Green prospects of its Eyre Peninsula gold project in South Australia returned results of up to 16 metres at 3g/t.

The company had $1.6 million in cash and deposits as at 30th June 2015.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 22 Sep 2015 12:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147868/adelaide-resources-to-raise-capital-64668.html
<![CDATA[News - Adelaide Resources hits broad zones of copper at Moonta Project ]]> http://www.proactiveinvestors.com.au/companies/news/147867/adelaide-resources-hits-broad-zones-of-copper-at-moonta-project-62726.html Adelaide Resources’ (ASX:ADN) drilling has returned broad intersections of moderate grade copper mineralisation at the Alford West prospect of its Moonta copper project tenement in South Australia.

The wholly-owned project is 150 kilometres north of Adelaide and located towards the southern end of the world class Olympic Copper-Gold Province.

Notably, the region has established infrastructure including roads, rail, power and port facilities likely to reduce the capital costs of establishing a mining operation.


Results

The eight holes totalling 1,618 metres returned copper in both the Larwood and Bruce zones confirming depth continuity.

Bruce zone
- 20 metres at 0.56% copper and 0.11 grams per tonne gold from 131 metres, including 6 metres at 1.12% copper and 0.17g/t gold from 135 metres; and
- 11 metres at 0.87% copper and 0.10g/t gold from 169 metres, including 9 metres at 1.01% copper and 0.08g/t gold from 170 metres.

Larwood zone
- 17 metres at 0.41% copper and 0.19g/t gold from 93 metres; and
- 11 metres at 0.54% copper and 0.12g/t gold from 166 metres.

The new results will be incorporated with previous drill data and the 3D model of the Alford West deposit updated with a view to releasing a resource calculated under JORC guidelines.

Adelaide Resources is assessing the various options available to fund further substantial drilling at Alford West.

It is currently undertaking a 1,000 metre diamond drilling program at the wholly-owned Barns and Baggy Green gold projects on the Eyre Peninsula, South Australia, with results anticipated to be released around the end of June.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 03 Jun 2015 17:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147867/adelaide-resources-hits-broad-zones-of-copper-at-moonta-project-62726.html
<![CDATA[News - Adelaide Resources completes biogeochemistry sampling in South Australia ]]> http://www.proactiveinvestors.com.au/companies/news/147866/adelaide-resources-completes-biogeochemistry-sampling-in-south-australia-60638.html Adelaide Resources (ASX:ADN) has successfully completed the research and development biogeochemistry sampling program on its Eyre Peninsula tenements in South Australia.

This confirmed that concentrations of gold, silver and some other metals in the leaves of eucalypts above sub-surface mineralisation are at anomalous levels.

It suggests that biogeochemistry shows promising potential for wider application across the Eyre Peninsula Project.

The program was designed to determine if analysis of eucalypt mallee leaves could be used to identify areas of known underlying gold mineralisation at the Baggy Green gold prospect on the Eyre Peninsula.

Research by a CSIRO team led by Dr. Mel Lintern in October 2013 confirmed that some species of eucalypts growing on top of mineral deposits transport gold from significant depths via the root system and precipitate it as tiny particles in the above ground foliage of the tree.

It is then possible to sample leaf and twig material, determine its gold content, and delineate biogeochemical anomalies that may indicate the presence of buried mineralisation.

The Eyre Peninsula Gold Project comprises 12 tenements that cover 4415 square kilometres.

It falls largely in the Central Gawler Gold Province, an arcuate belt lying on the southern and western margins of the extensive Gawler Range Volcanics.

The Central Gawler Gold Province is host to the Tarcoola and Tunkillia gold deposits, and to numerous other prospects including the company’s wholly owned Baggy Green, White Tank and Barns gold prospects.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 11 Feb 2015 17:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147866/adelaide-resources-completes-biogeochemistry-sampling-in-south-australia-60638.html
<![CDATA[News - Adelaide Resources assays 9.32g/t gold at Drummond ]]> http://www.proactiveinvestors.com.au/companies/news/147865/adelaide-resources-assays-932gt-gold-at-drummond-58551.html Adelaide Resources (ASX:ADN) has received assay results for new surface rock chip samples from its South West Limey Dam prospect on the Drummond Project in Queensland.

Results corroborate the emerging mineralisation model of a large gold target zone preserved at depth below an extensive soil pathfinder metal anomaly to the south of the prospect, and a near-surface gold target to the north.

Highlights include 9.32g/t gold, 6.33g/t gold, 2.75g/t gold, 2.41g/t gold, 1.86g/t gold and 1.33g/t gold, adding to the 2013 result of 55.4g/t gold.

Rock chips from the south of the prospect, where the “Gold Zone” is likely to be preserved at depth, contain lower gold but significant arsenic with results including 345ppm arsenic, 249ppm arsenic and 120ppm arsenic.

Soil geochemistry and rock chip sampling at the Central Limey Dam and North Limey Dam prospects also delivered positive results.

The program has defined targets to be drill tested following the end of the wet season, with co-funding from the Queensland Government.

The Drummond Basin which holds ADN's Drummond project hosts a number of significant gold deposits of epithermal style, including the Pajingo Field which has produced in excess of 3 million ounces of high grade gold.

ADN also recently identified the West Doora IOCG target at its Moonta Copper Gold Project in South Australia. It lies in the Wallaroo Mines Field which is in turn a part of the large Proterozoic Olympic Copper-Gold Province.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 29 Oct 2014 15:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147865/adelaide-resources-assays-932gt-gold-at-drummond-58551.html
<![CDATA[News - Adelaide Resources identifies IOCG prospect in South Australia ]]> http://www.proactiveinvestors.com.au/companies/news/147864/adelaide-resources-identifies-iocg-prospect-in-south-australia-56846.html Adelaide Resources (ASX:ADN) has identified West Doora at the Moonta Copper Gold Project in South Australia as an iron ore copper gold prospect.

This follows modelling and evaluation of data from the historic diamond drill holes, which returned results including:

-    7.31 metres at 2.29% copper from 224.03 metres;
-    12.8 metres at 2.07% copper from 83.21 metres; and
-    12.8 metres at 1.48% copper from 85.65 metres.

Copper has been intersected as shallow as 20 metres from the surface, while intersections as deep as 400 metres occur, presenting further evidence that mineralisation can persist to significant depths in the Moonta district.

3D modelling of the historic West Doora drill data shows copper mineralisation occurs in two main zones.

The Eastern Zone is interpreted to be a series of stacked narrow lodes, while the Western Zone includes a thick mineralised body with internal zones that reach horizontal widths of up to 50 metres.

It also suggests suggests that the thick Western Zone may remain open downplunge to the west, presenting a promising exploration target.

Gold was not routinely assayed when the historic drilling was done, and the company has re-sampled four old holes with assaying for gold and other metals now underway.

West Doora is located southwest of the town of Kadina and was one of the main prospects explored under a joint venture between Western Mining Corporation and North Broken Hill.

It lies in the Wallaroo Mines Field within the Moonta–Wallaroo district which is in turn a part of the large Proterozoic Olympic Copper Gold Province.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 11 Aug 2014 20:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147864/adelaide-resources-identifies-iocg-prospect-in-south-australia-56846.html
<![CDATA[News - Adelaide Resources hits more copper at Alford West in Olympic IOCG belt ]]> http://www.proactiveinvestors.com.au/companies/news/147863/adelaide-resources-hits-more-copper-at-alford-west-in-olympic-iocg-belt-54225.html Adelaide Resources (ASX:ADN) has returned further broad, near surface copper intersections at Alford West, which lies in South Australia's Olympic IOCG belt.

Laboratory assays have been received for aircore holes drilled on the Moonta Copper-Gold prospect on Yorke Peninsula, in the western part of the 3500 long Alford West anomaly.

Drilling was also conducted at the Blue Tongue West and Kambula geochemical features.

Better results included 25 metres at 0.63% copper from 6 metres, 18 metres at 0.43% copper from 46 metres, 6 metres at 1.24% copper and 0.22g/t gold from 76 metres to end of hole, and 3 metres at 1.29% copper from 57 metres to end of hole.

Strongly anomalous lead, to a maximum of 1.76%, is also present in several holes, while significant molybdenum mineralisation, including 7 metres at 0.16% from 36 metres, is present in another area.

Aircore drill coverage of the broader Alford West target zone and satellite targets is now sufficient to enable development of a geological and mineralisation model for Alford West and its satellite targets.

Construction of this model is currently underway and the company anticipates releasing it to the market in the near future.

Interestingly, the Yorke Peninsula, and the Moonta Project in particular, has the shallowest cover along the entire Olympic Copper-Gold Province.

This is borne out by ADN's consistent near surface intersections, and bodes well for a potential low cost mining operation.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 09 Apr 2014 14:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147863/adelaide-resources-hits-more-copper-at-alford-west-in-olympic-iocg-belt-54225.html
<![CDATA[News - Adelaide Resources in pre-open, to divulge exploration results ]]> http://www.proactiveinvestors.com.au/companies/news/147862/adelaide-resources-in-pre-open-to-divulge-exploration-results-53483.html Adelaide Resources (ASX: ADN) is preparing to divulge some significant exploration results, with the ASX granting the company a trading halt.

ADN's shares are now in pre-open.

Yesterday the company delivered broad zones of copper from the Moonta Copper-Gold Project in South Australia.

The halt will remain in place until the opening of trade on Tuesday 11th March 2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 07 Mar 2014 12:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147862/adelaide-resources-in-pre-open-to-divulge-exploration-results-53483.html
<![CDATA[News - Adelaide Resources hits copper at Blue Tongue in Olympic Dam belt ]]> http://www.proactiveinvestors.com.au/companies/news/147861/adelaide-resources-hits-copper-at-blue-tongue-in-olympic-dam-belt-53445.html Adelaide Resources (ASX: ADN) has intercepted multiple broad zones of copper mineralisation during maiden drilling at Blue Tongue in South Australia.

Assays included 25 metres at 0.26% copper from 29 metres, and 14 metres at 0.31% copper from 59 metres.

The 1 kilometre Blue Tongue target lies within ADN's Moonta Copper-Gold Project on the Yorke Peninsula, towards the southern end of the Olympic Copper-Gold Province which hosts BHP's giant Olympic Dam mine.

The target was defined in December 2013 via a soil geochemical survey which identified a strong copper anomaly south of ADN's  Alford West Prospect.

Primary mineralisation at Blue Tongue is assumed to be present as copper sulphide, however no sulphide minerals were observed during geological logging of the drill hole samples, and laboratory assays confirmed the lack of sulphur.

Absence of sulphides suggests that the primary mineralisation is oxidised below the zones reached by the aircore drilling, which was limited to 60 metres depth, and a deeper supergene enriched sulphidic target zone may be present.

There are also likely to be sub-zones at Blue Tongue, with areas of higher grade mineralisation, presenting targets for deeper drill testing.

ADN is now considering an induced polarization survey to assist future deeper drill targeting at Blue Tongue.

Drilling of other targets, including the western extensions of the Alford West Prospect, has been recently conducted, with assay results due shortly.

 

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Thu, 06 Mar 2014 14:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147861/adelaide-resources-hits-copper-at-blue-tongue-in-olympic-dam-belt-53445.html
<![CDATA[News - Adelaide Resources defines another copper target in Olympic IOCGU belt ]]> http://www.proactiveinvestors.com.au/companies/news/147860/adelaide-resources-defines-another-copper-target-in-olympic-iocgu-belt-52744.html Adelaide Resources (ASX: ADN) has identified the new Blue Tongue West copper target at Moonta in South Australia, via portable fluorescence XRF geochemical sampling.

The new copper anomaly, which warrants drill testing, is located to the west of the Blue Tongue target defined in December 2013.

Moonta lies within the Olympic iron ore-copper-gold-uranium belt, one of the premier mineral provinces in the world, and host to several globally significant deposits.

At Moonta, ADN can count BHP Billiton (ASX:BHP), Rio Tinto (ASX:RIO), Sandfire Resources (ASX:SFR) and Xstrata as neighbours.

Copper values in individual samples approach those seen in the soil anomalies at Alford West and Blue Tongue, with the core of the new feature extending over a distance of 600 metres.

Individual surface soil assays range up to 81ppm copper, matching the higher levels seen at the 3,500 metre Alford West.

Blue Tongue West has not previously been drill tested, and the aircore drilling program currently underway to test the Alford West, Blue Tongue and Kambula targets has been modified to include it.

The XRF survey has additionally identified a soil copper anomaly near the eastern limits of the previously identified Wombat Prospect, located 1 kilometre to the west.

Aircore drilling is continuing at Alford West, with minor amounts of copper carbonate visually observed in weathered bedrock.

Assays will be presented as they become available.

 

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Wed, 12 Feb 2014 12:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147860/adelaide-resources-defines-another-copper-target-in-olympic-iocgu-belt-52744.html
<![CDATA[News - Adelaide Resources pinpoints new 1km copper target near Alford West in South Australia ]]> http://www.proactiveinvestors.com.au/companies/news/147859/adelaide-resources-pinpoints-new-1km-copper-target-near-alford-west-in-south-australia--51260.html Adelaide Resources (ASX: ADN) has defined a new copper anomaly adjacent to the Alford West prospect, within its Moonta Copper-Gold project on the Yorke Peninsula of South Australia.

A recently commenced portable X-Ray fluorescence (FPXRF) soil geochemical survey highlighted the new target when FPXRF sampling was conducted in recently harvested paddocks immediately south of Alford West.

The northeast trending 'Blue Tongue' geochemical anomaly extends for around 1000 metres and occurs as a coherent zone of anomalous copper that is equivalent in magnitude to soil anomalies associated with the Alford West mineralisation.

Blue Tongue has not previously been drill tested, has several other positive geological attributes, and complements Alford West, where drilling is scheduled to recommence in mid-January 2014.

 

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Wed, 18 Dec 2013 15:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147859/adelaide-resources-pinpoints-new-1km-copper-target-near-alford-west-in-south-australia--51260.html
<![CDATA[News - Adelaide Resource: ‘gold in trees’ could point to mineralisation in South Australia ]]> http://www.proactiveinvestors.com.au/companies/news/147858/adelaide-resource-gold-in-trees-could-point-to-mineralisation-in-south-australia-49599.html Adelaide Resources (ASX: ADN) may look to the trees as a cost efficient and environmentally friendly alternative to finding gold mineralisation at its Eyre Peninsula Project in South Australia.
   
Research carried out by a CSIRO team led by Dr Mel Lintern into the use of biogeochemistry in mineral exploration has found that some species of eucalypts growing on top of mineral deposits transport gold from significant depths via the root system and deposit it as tiny particles in the above ground foliage of the tree.

It is then possible to sample leaf and twig material, determine its gold content, and delineate biogeochemical anomalies that may indicate the presence of buried mineralisation.

One of the research sites investigated in the study by Dr Lintern’s team was the company’s Barns gold prospect, located north of Wudinna at its Eyre Peninsula Project.

The company has since started the process of gaining the various approvals required to access parts of the low-carbonate area to conduct its own research trial into the development of biogeochemistry.

This will allow it to access large areas of its project where the traditional use of calcrete geochemistry to define gold anomalies is ineffective due to calcrete being either not developed in the soil profile, or is present at a depth below that which can be cost efficiently sampled using hand tools.

Comment

Proactive Investors wonders in a jocular manner if the scientists will next find enough gold to justify harvesting leaves. It could be serious business if the gold can be extracted economically.

However, Dr Lintern has noted that even 500 trees growing over a gold deposit would only yield enough gold for a wedding ring.

 

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Tue, 29 Oct 2013 16:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147858/adelaide-resource-gold-in-trees-could-point-to-mineralisation-in-south-australia-49599.html
<![CDATA[News - Adelaide Resources receives vote of confidence, raises $1.7M from SPP ]]> http://www.proactiveinvestors.com.au/companies/news/147857/adelaide-resources-receives-vote-of-confidence-raises-17m-from-spp-46768.html Adelaide Resources (ASX:ADN) has strengthened its cash position via a successful share purchase plan at $0.075 per share which raised $1.74 million.

Existing shareholders supported the fund raising initiative, showing support for ADN's board and projects in what are difficult equity market conditions for junior explorers.

ADN now has over $4 million in cash available to further exploration works at the 100% owned, high grade Alford West copper prospect.

Funds will also be directed towards the Moonta Copper-Gold Project on South Australia’s Yorke Peninsula, exploration activities on the Eyre Peninsula, and initial field work at the Glenroy Project in North Queensland.

Drilling at Alford West is scheduled to recommence early next week, which will complete the Stage Two drilling program.

Results are anticipated towards the end of September. With its now ample funds and a $16 million market cap, ADN is leveraged to any further strong assays.

 

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Thu, 15 Aug 2013 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147857/adelaide-resources-receives-vote-of-confidence-raises-17m-from-spp-46768.html
<![CDATA[News - Adelaide Resources confirms more copper / gold at Alford West ]]> http://www.proactiveinvestors.com.au/companies/news/147856/adelaide-resources-confirms-more-copper-gold-at-alford-west-45561.html Adelaide Resources (ASX: ADN) has confirmed some more high grade copper and gold hits from the wholly-owned Alford West prospect, located within the Moonta Copper Gold Project on South Australia’s Yorke Peninsula.

The Yorke Peninsula in general, and the Moonta Project in particular, has the
shallowest cover anywhere along the entire Olympic Copper Gold Province.

Laboratory assay grades exceeded preliminary Field Portable X- Ray Fluorescence analyses, and are considered definitive, with new intersections including:

- 14 metres at 2.60% copper and 0.70g/t gold from 10 metres, including 5 metres at 6.46% copper and 0.35g/t gold; and
- 20 metres at 1.76% copper and 0.33g/t gold from 36 metres.

The company is now spinning the rig for a second program of aircore drilling, which is targeting strike extensions, along with infill drilling on existing traverses to allow confident interpretation of lode dips.

The history of exploration on the Moonta Project is one dominated by large companies, providing the company with a valuable historical dataset and a significant scale opportunity.

Adelaide Resources has around $3 million in cash.

 

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Mon, 15 Jul 2013 14:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147856/adelaide-resources-confirms-more-copper-gold-at-alford-west-45561.html
<![CDATA[News - Adelaide Resources raises $1.2M to follow-up 20m at 4.20% copper hit ]]> http://www.proactiveinvestors.com.au/companies/news/147855/adelaide-resources-raises-12m-to-follow-up-20m-at-420-copper-hit-44042.html Adelaide Resources (ASX: ADN) has raised funds to follow-up the discovery of high grade copper and gold intersections at the company's wholly-owned Alford West copper gold prospect on the Yorke Peninsula of South Australia.

The company placed around 16.5 million shares at $0.073 with professional and sophisticated investors, which raised $1.2 million.

Alford West is hosted within the Moonta Copper Gold Project - which is located in the in Olympic Copper-Gold Province, and earlier this year discovered: 20 metres at 4.20% copper and 0.27g/t gold from 32 metres downhole; and 45 metres at 1.55% copper and 1.81g/t gold from 15 metres downhole to end of hole.

Adelaide Resources commenced a second round of air-core drilling about a week ago to test the strike length of Alford West from 300 metres to 1100 metres.

The new funds will boost Adelaide Resources cash position of $2.4 million at the end of March 2013.

 

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Mon, 03 Jun 2013 13:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147855/adelaide-resources-raises-12m-to-follow-up-20m-at-420-copper-hit-44042.html
<![CDATA[News - Adelaide Resources to raise funds ]]> http://www.proactiveinvestors.com.au/companies/news/147854/adelaide-resources-to-raise-funds-43892.html Adelaide Resources (ASX: ADN) is in pre-open this morning following the ASX granting the company a trading halt, pending details of a capital raising.

Adelaide Resources is focused on the Moonta Project which is strategically located in the Olympic Copper Gold Province, a region that is totally pegged and where ownership is dominated by many
of the world’s largest copper producers.

Earlier in the week the company kicked off a second round of air-core drilling at the wholly-owned Alford West Prospect, located within the Moonta Project.

The program follows up from the first stage of drilling which returned 20 metres at 4.20% copper and 0.27g/t gold from 32 metres.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 3rd June 2013.

 

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Thu, 30 May 2013 09:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147854/adelaide-resources-to-raise-funds-43892.html
<![CDATA[News - Adelaide Resources follows up 20m of 4.2% copper with more drilling at Alford West ]]> http://www.proactiveinvestors.com.au/companies/news/147853/adelaide-resources-follows-up-20m-of-42-copper-with-more-drilling-at-alford-west-43799.html Adelaide Resources (ASX: ADN) has commenced a second round of aircore drilling at the 100% owned Alford West Prospect within the Moonta Copper Gold Project on South Australia’s Yorke Peninsula.

The current drill program follows a maiden drill program completed in earlier 2013.

The assay results returned a number of copper and gold intersections including 20 metres at 4.20% copper and 0.27g/t gold from 32 metres and 45 metres at 1.55% copper and 1.81g/t gold from 15 metres. 

The maiden drill program comprised 25 holes for a total of 1,486 metres and is located in an area where historical drilling encountered significant copper-gold mineralisation.

The second phase of drilling comprises 91 aircore holes to be drilled at the Alford West Prospect.  These holes will extend the strike length of the prospect and establish the dip of high grade copper and gold lodes.

The first assay results from the second phase of drilling are anticipated to be available in around four to six weeks.

At 31 March 2013, the Company had $2.4m cash with an estimated $0.78m cash outflow for the next quarter.

 

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Tue, 28 May 2013 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147853/adelaide-resources-follows-up-20m-of-42-copper-with-more-drilling-at-alford-west-43799.html
<![CDATA[News - Adelaide Resources ups Alford West potential with geochemical trial ]]> http://www.proactiveinvestors.com.au/companies/news/147852/adelaide-resources-ups-alford-west-potential-with-geochemical-trial-43477.html Adelaide Resources (ASX: ADN) has followed up some high grade copper hits from drilling at Alford West in South Australia, completing a geochemical soil sampling program.

Alford West is located in the northern part of the Moonta Copper-Gold Project is at the southern end of the Olympic Copper Gold Province, a world class mineral belt.

Historical auger geochemical drilling completed at Alford West by WMC/NBH in the 1970s-1980s defined two distinct corridors of anomalous copper, a northern zone “L Zone”, and a southern zone “P Zone”.

Recent aircore drilling by Adelaide Resources concentrated on the northern L Zone, with some holes testing the southern P Zone.

Using a field portable X-Ray fluorescence (FPXRF) geochemical survey identified three zones of copper anomalism.

Two of these zones essentially coincide with the L and P zones identified in the historic auger drilling, while a third zone “G Zone” is apparent in the FPXRF data.

A follow-up aircore drilling program has been modified to test all three of the anomalous copper zones defined from both the historic auger and recent FPXRF surveys and will commence next week.

 


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Mon, 20 May 2013 10:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147852/adelaide-resources-ups-alford-west-potential-with-geochemical-trial-43477.html
<![CDATA[News - Adelaide Resources has more high grade copper at Alford West ]]> http://www.proactiveinvestors.com.au/companies/news/147851/adelaide-resources-has-more-high-grade-copper-at-alford-west-43005.html Adelaide Resources (ASX: ADN) is wasting no time in following up previous high grade copper from maiden drilling at Alford West in South Australia, with a second round of drilling planned to start in two weeks.

New drilling will aim to effectively quadruple the strike length tested by detailed drilling.

A trial field portable XRF surface geochemical survey is currently in progress, with initial results looking promising.

The latest assays received are from the final eight aircore holes completed in the first program of drilling at Alford West.

The results include further significant intersections of copper and gold, including two holes that finished in high grade zones of copper mineralisation.

Final program one drill results include 7 metres at 1.02% copper and 0.06 grams per tonne (g/t) gold from 65 metres to the end of hole.

The last one-metre sample in ALWAC019 assayed 3.92% copper and 0.22g/t gold, confirming potential at depth.

An upper, gold-dominant zone returned 15 metres at 0.23% copper and 0.66g/t gold, including 7 metres at 0.48% copper and 0.95g/t gold from 38 metres.

The hole ended in good copper mineralisation with a lower intersection of 7 metres at 1.2% copper and 0.09g/t gold from 65 metres to the end of hole.

Another hole also ended in mineralisation, returning 4 metres at 1.2% copper and 0.09g/t gold from 52 metres to the end of hole.

One-metre re-split sampling of another hole returned an improved intersection of 7 metres at 1.86% copper and 0.45g/t gold from 51 metres.

Overall, the maiden drilling program at Alford West has confirmed that high grade zones of copper and gold mineralisation, including some exceptional grade intersections, are present on each of the six traverses of drilling completed to date by Adelaide Resources.

So far the company has confirmed that high grade mineralisation extends over a 300 metre strike length, and mineralisation remains open along strike in both directions and at depth.


Follow-up drilling

The follow-up drilling program has been designed to extend drill coverage along the strike of the target zone to 1,100 metres by completing nine further traverses of drilling spaced 100 metres apart.

It will also include infill drilling on two traverses to allow confident interpretation of the high grade lode geometries, particularly their dip.

Another goal of the program is to extend new drilling into areas of historic drilling to resolve the uncertainty regarding the precise location of historic intersections, and to submit samples for gold assay as this was not done in the past.

Both landowner and government approvals to complete the second drill program are already in place.


Moonta Copper-Gold Project

The Alford West prospect forms part of the Moonta Copper-Gold Project located at the southern end of the world class Olympic Copper Gold Province.

The province is highly prospective for iron oxide-copper-gold (IOCG) deposits, with three major mines – Olympic Dam, Prominent Hill and Moonta-Wallaroo – either a past producer or currently in production.

Adelaide Resources remains well-funded with around A$2.4 million in cash at the end of March 2013.


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Wed, 08 May 2013 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147851/adelaide-resources-has-more-high-grade-copper-at-alford-west-43005.html
<![CDATA[News - Adelaide Resources makes startling copper-gold discovery in South Australia ]]> http://www.proactiveinvestors.com.au/companies/news/147850/adelaide-resources-makes-startling-copper-gold-discovery-in-south-australia-42730.html Adelaide Resources (ASX: ADN) has made a discovery of high grade copper-gold from drilling in the historic Moonta‐Wallaroo mining region in South Australia.

The shallow, high‐grade copper and gold intersections at Alford West announced by Adelaide Resources include exceptional hits of 20 metres at 4.20% copper and 0.27 grams per tonne gold from 32 metres downhole, and 45 metres at 1.55% copper and 1.81 g/t gold.

The discovery was as a direct result of the trawling through massive amounts of historical exploration data which has clearly paid off for Chris Drown, managing director of Adelaide Resources, or "buried treasure" as he termed it.

These are some of the highest grade copper‐gold drill results we can recall from exploration on the State’s Yorke Peninsula for some time. 

Eerily, the results are from its first drilling at the project at the Alford West prospect and could signal a larger mineralised system as the system is open along strike. 

The project is located at the southern end of South Australia’s world‐renowned Olympic Copper Gold Province which has already yielded major producing mines such as BHP Billiton’s Olympic Dam, OZ Minerals’ Prominent Hill and the famous Moonta‐Wallaroo mines.

Significant other deposits discovered in the area in recent years and currently in pre‐development stage, include OZ Minerals’ Carrapateena and Rex Minerals’ Hillside, the latter being some 60 km south of Adelaide Resources’ project tenement.

It is not surprising that Chris Drown, managing director of Adelaide Resources had cause to celebrate.

“Significantly, our discovery is at much shallower depths than deposits like Olympic Dam or Prominent Hill, with some high grade intersections commencing within just 5 metres of the surface.”

Following receipt and interpretation of the remaining assay results from the recent aircore drilling program on the Alford West prospect, further drilling will be designed with a number of goals in mind.

 

 

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Tue, 30 Apr 2013 09:33:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147850/adelaide-resources-makes-startling-copper-gold-discovery-in-south-australia-42730.html
<![CDATA[News - Adelaide Resources to release 'signficant exploration results' ]]> http://www.proactiveinvestors.com.au/companies/news/147849/adelaide-resources-to-release-signficant-exploration-results-42493.html Adelaide Resources (ASX: ADN) is readying to release some “significant exploration results” and has been granted a trading halt by the ASX.

The company is in the process of finalising and interpreting assays.

Adelaide’s key project is its Moonta Project which lies at the southern end of the Olympic Copper-Gold Province, a world class mineral belt, in South Australia.

The province is highly prospective for iron oxide-copper-gold (IOCG) deposits, with Olympic Dam, Prominent Hill and Moonta-Wallaroo the three mines with past or current production.

There are several active majors in the belt include BHP Billiton (ASX: BHP), Rio Tinto (ASX: RIO), Fortescue Metals Group (ASX: FMG), OZ Minerals (ASX: OZL), Antofagasta, Xstrata and Sandfire Resources (ASX: SFR).

Adelaide Resources recently made its highest copper hit yet of 10 metres at 4.23% copper and 0.2 grams per tonne (g/t) gold from 57 metres at the Alford West Prospect.

These grades were discovered in a maiden aircore drilling program of 1,486 metres across 25 holes at the prospect.

The intercept that returned a grade of 4.23% copper is believed to be among the best hits returned from the Moonta district.

Historical exploration results show the highest grades as being 3.69% copper.

At 31 March 2013, Adelaide Resources had available funds of $2.426 million.

The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Tuesday 30 April.


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Fri, 26 Apr 2013 09:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147849/adelaide-resources-to-release-signficant-exploration-results-42493.html
<![CDATA[News - Adelaide Resources hits highest copper grades yet at South Australian prospect ]]> http://www.proactiveinvestors.com.au/companies/news/147848/adelaide-resources-hits-highest-copper-grades-yet-at-south-australian-prospect-42195.html Adelaide Resources (ASX: ADN) has intercepted copper grades of up to 4.23% at its Alford West Prospect in South Australia, substantially higher than any of the historic intersections achieved at the prospect.

These grades were discovered in a maiden aircore drilling program of 1,486 metres across 25 holes at the Alford West Prospect, which forms part of the Moonta Copper-Gold Project on the Yorke Peninsula.

Notable intercepts include 10 metres at 4.23% copper and 0.2 grams per tonne (g/t) gold from 57 metres, 10 metres at 1.03% copper and 0.4g/t gold from 50 metres, and 5 metres at 0.92% copper and 0.15g/t gold from 45 metres.

The intercept that returned a grade of 4.23% copper is believed to be among the best hits returned from the Moonta district.

Historical exploration results show the highest grades as being 3.69% copper.

Past drilling at Alford West is interpreted to reveal the presence of two steeply north dipping, sub parallel, high grade copper-gold lodes that strike east to west and are spaced about 50 metres apart.

The collar locations of the historic Alford West holes could only be approximately located and the first goal of Adelaide Resources’ drilling program was to confirm the location of the mineralisation.

Given the initial drilling results, Adelaide believes it has successfully relocated the historical mineralisation.

The copper bearing mineral has been identified as chalcocite which has the capacity to produce a very valuable copper concentrate product.

Chalcocite contains 79.9% copper by weight and is one of the highest grade ore minerals of copper.

Assaying of further drill samples from the Alford West Prospect is currently underway, with results expected soon.

Adelaide Resources had a cash position of A$3.03 million at the end of December 2012.


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Thu, 18 Apr 2013 11:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147848/adelaide-resources-hits-highest-copper-grades-yet-at-south-australian-prospect-42195.html
<![CDATA[News - Adelaide Resources finds more copper on Yorke Peninsula ]]> http://www.proactiveinvestors.com.au/companies/news/147847/adelaide-resources-finds-more-copper-on-yorke-peninsula-36374.html Adelaide Resources (ASX: ADN) has received an assay of 22 metres at 1.14% copper from a copper/gold project on the Yorke Peninsula in South Australia.

Managing director Chris Drown would be well chuffed with the new results from Wombat prospect at Moonta project, as the company has now achieved very encouraging drill intersections at all four of its 2012 target prospects.

Moonta is toward the southern end of the Olympic Copper Gold Province.  The latest results were from Wombat,  located in the northwest of the project.

Drillhole WOMDD001 returned some robust intersections:

- 2 metres at 3.04% copper from 198 metres
- 47 metres at 0.84% copper from 236 metres including 22 metres at 1.14% copper from 241 metres, and
- 1 metre at 11.05% copper from 295 metres

The main body of mineralisation intersected in WOMDD001 is interpreted to be the same body intersected in adjacent historical holes MPD-05-21 (36 metres at 1.14% copper) and MPD-06-22 (60.6 metres at 0.37% copper).

The main copper phase present is known to be native copper which can produce “nugget effects”. Screened copper assays are now being completed to minimise analytical variability caused by copper nuggets.

Paskeville Drilling Update

The first diamond hole (PASDD002) of the recently commenced drilling program at Paskeville has been completed at a final depth of 353 metres.

The copper sulphide mineral chalcopyrite has been observed to be present in veins that occur sporadically between 83.7 metres and 330 metres downhole, and rarely as disseminated grains in the host rock.

Geological logging of PASDD002 has been completed and the core is now being sawn to provide drill samples for chemical assay, with analytical results anticipated in late December.

Analysis

Adelaide Resources will now have the enviable task of of selecting which of the four prospects to focus exploration efforts.

Pending results from the second hole at Wombat, which is currently being assayed, may tip the balance toward one of these prospects. 

Overall, the results demonstrate the widespread mineralisation at the company’s Moonta project and prospectivity.  Adelaide Resources is one to watch given the results to date.  With a market cap. of just $11 million, ADN would not need much of a "sniff" in further results  for the share price to take off.

 

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Mon, 26 Nov 2012 10:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147847/adelaide-resources-finds-more-copper-on-yorke-peninsula-36374.html
<![CDATA[News - Adelaide Resources starts Paskeville diamond drilling ]]> http://www.proactiveinvestors.com.au/companies/news/147846/adelaide-resources-starts-paskeville-diamond-drilling-35217.html Adelaide Resources (ASX: ADN) has started diamond drilling at its Paskeville Prospect at the Moonta
Copper Gold Project on the Yorke Peninsula, South Australia.

The drilling follows aircore drilling completed in the first half of 2012 that discovered a coherent body of low to moderate grade copper mineralisation with a strike length of 300 metres and widths estimated to range from 15 metres to 130 metres.

This remains open along strike and at depth.

Adelaide’s first diamond drill hole is designed to test a compelling target identified following interpretation of the shallow aircore drilling results.

This is the down dip continuation of a 130 metre thick part of the mineralised zone where copper grade vectors suggest higher grades of mineralisation may be present.

A recently completed airborne electromagnetic survey has also identified a number of conductive features semi-coincident with discrete geochemical anomalies adding further confidence in the quality of these exploration targets.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Wed, 31 Oct 2012 14:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147846/adelaide-resources-starts-paskeville-diamond-drilling-35217.html
<![CDATA[News - Adelaide Resources raises A$1.1M to drill test South Australian copper target ]]> http://www.proactiveinvestors.com.au/companies/news/147845/adelaide-resources-raises-a11m-to-drill-test-south-australian-copper-target-35071.html Adelaide Resources (ASX: AND) has raised A$1.1 million to fund drilling at its wholly owned Paskeville copper prospect on the Moonta Copper Gold Project, South Australia.

The company plans to carry out diamond drilling to test a coherent body of low to moderate grade copper mineralisation discovered by aircore drilling carried out in the first half of 2012.

This had a strike length of 300 metres that remains open along strike and depth with widths ranging from 15 metres to over 130 metres.

In addition, results from a recently completed helicopter-borne airborne electromagnetic survey have added confidence in the quality of a number of additional targets at Paskeville planned for drilling in the first quarter of 2013.

The funds were raised through a placement of 24.6 million shares priced at A$0.045 each to professional and sophisticated investors.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Mon, 29 Oct 2012 11:50:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147845/adelaide-resources-raises-a11m-to-drill-test-south-australian-copper-target-35071.html
<![CDATA[News - Adelaide Resources to raise capital ]]> http://www.proactiveinvestors.com.au/companies/news/147844/adelaide-resources-to-raise-capital-34949.html Adelaide Resources (ASX: ADN) has been granted a trading halt by the ASX this morning pending capital raising details, with the company's shares placed in pre-open.

Adelaide Resources has not yet indicated where the potential inflow of new funds will be allocated, but the company is closing in on concluding inhouse (i.e. non-JORC compliant) resource estimates for both the Rover 1 and Rover 4 deposits at the Rover project, Tennant
Creek in the Northern Territory.

The company's chairman recently said in the annual report that they see as likely a scenario whereby a single milling facility will be established in the Rover Field which will treat ores from several deposits.

Our Rover 1 and Rover 4 deposits are valuable stores of copper and gold, but unless further exploration can increase their size, they appear more likely to play a role as secondary feed for such an eventual development in the region.

Adelaide Resources also has gold / copper interests on the Yorke Peninsula in South Australia.

The halt will last until the earlier of an announcement being made to the market or the opening of trade on Monday 29th October.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Thu, 25 Oct 2012 11:10:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147844/adelaide-resources-to-raise-capital-34949.html
<![CDATA[News - Adelaide Resources to drill test South Australian copper target ]]> http://www.proactiveinvestors.com.au/companies/news/147843/adelaide-resources-to-drill-test-south-australian-copper-target-34609.html Adelaide Resources (ASX: AND) expects to start diamond drilling to follow up a strong copper mineralisation target at Paskerville, South Australia, before the end of this month.

Interpretation of aircore drilling of 24 holes carried out during the first half of 2012 had defined an exploration target at depth and centred on the most south easterly drill traverse completed at the prospect.

This is believed to increase in grade at depth, presenting a potentially attractive target beneath the limit of current drilling.

Intersections achieved in these holes included 10 metres at 1.06% copper and 9 metres at 1.27% copper as well as 42 metres at 1.10% copper and 0.11 grams per tonne gold.

The diamond drilling will serve as an initial test of this target.

Adding to the confidence is a recently completed airborne electromagnetic survey covering 14.5 square kilometres that identified a number of conductive features semi-coincident with discrete geochemical anomalies.

This survey also appears to have accurately mapped the western limit of a wedge of Adelaidian aged sediments which occur beneath thin surficial cover but above the prospective basement rocks which host mineralisation in the district.

The interpreted western boundary of the Adelaidian sediments coincides with the eastern limit of geochemical anomalism at Paskeville.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Wed, 17 Oct 2012 14:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147843/adelaide-resources-to-drill-test-south-australian-copper-target-34609.html
<![CDATA[News - Adelaide Resources identifies greenfields copper, gold mineralisation on Yorke Peninsula ]]> http://www.proactiveinvestors.com.au/companies/news/147842/adelaide-resources-identifies-greenfields-copper-gold-mineralisation-on-yorke-peninsula-26607.html Adelaide Resources (ASX: ADN) has discovered new zones of copper and gold mineralisation at the Moonta Project on the northern Yorke Peninsula in South Australia.

The news has been well received, with shares rising 40% to A$0.105 on 13.5 million shares traded in intraday trade.

Drilling in previously unexplored areas in the region has paid off for Adelaide, with the company intersecting copper at the Paskeville prospect and copper and gold at the Copper Hill East prospect.

At Paskeville, the first drill hole has returned:

- 10 metres at 1.06% copper from 11 metres; and
- 9 metres at 1.27% copper from 58 metres, including 2 metres at 4.03% copper.

Mineralisation remains open at depth. Assays from a further 19 drill holes at Paskeville are pending.

At Copper Hill East, the best result from the first seven aircore holes was 5 metres at 3.73 grams per tonne (g/t) gold from 25 metres, while values of up to 0.45% copper were present in another hole.

More than 600 additional aircore drill samples from each prospect are being assayed, with results expected within the next month.

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Mon, 19 Mar 2012 15:50:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147842/adelaide-resources-identifies-greenfields-copper-gold-mineralisation-on-yorke-peninsula-26607.html
<![CDATA[News - Adelaide Resources commences drilling in Olympic Copper Gold Province ]]> http://www.proactiveinvestors.com.au/companies/news/147841/adelaide-resources-commences-drilling-in-olympic-copper-gold-province-24273.html Adelaide Resources (ASX: ADN) has launched the 2012 exploration program at its Moonta Copper Gold Project in South Australia’s Yorke Peninsula.

Moonta is located in the Olympic Copper Gold Province, a belt that contains world class copper and gold resources.

A 7,000 metre aircore drilling program started to day, with the aim of testing copper gold anomalies at the Willamulka, Copper Hill East, Paskerville and Wombat prospects.

Initially, drilling will target extensions to the Willamulka Prospect, to follow up on drilling conducted in 2011, which identified copper gold mineralisation over 1,200 metres strike.

This mineralisation remains open to the northeast and southwest.

A diamond rig will start at the site in early February to perform deeper drilling at Willamulka and Wombat.

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Wed, 18 Jan 2012 17:18:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147841/adelaide-resources-commences-drilling-in-olympic-copper-gold-province-24273.html
<![CDATA[News - Adelaide Resources and Quasar Resource start drilling for South Australian uranium ]]> http://www.proactiveinvestors.com.au/companies/news/147840/adelaide-resources-and-quasar-resource-start-drilling-for-south-australian-uranium-20877.html Adelaide Resources (ASX: ADN) and partner Quasar Resources have commenced a 12,000 metre aircore drilling program at the Corrobinnie Uranium Joint Venture in South Australia’s Eyre Peninsula.

The joint venture is testing a number of priority uranium target areas in the Thurlga and Narlaby Palaeochannels. A number of close spaced drill traverses are planned to follow up anomalous uranium intersected in 2009 and 2010 drill programs in the Thurlga Palaeochannel.

Previous intersections include 6 metres at 260 parts per million uranium oxide from 28 metres downhole and 8 metres at 106 parts per million uranium oxide from 28 metres. Mineralisation intersected in Thurlga is interpreted to be of typical sediment-hosted roll-front style, Corrobinnie’s principal deposit target style.

Gamma probe logging of the holes will be carried out using a portable slim-line logging system, while assay samples will be taken for multi-element geochemical analysis. Results from the drilling program are expected over the next two months.

Adelaide Resources share buy back

In other company news, Adelaide Resources intends to repurchase up to 10% of its ordinary shares through an on-market share buyback program. The program will begin on October 27, 2011, for a period of 12 months.

The amount of share purchases made by Adelaide will depend on management and the board’s assessment of value, relative to share price at the time shares are available for re-purchase.

The company’s directors believe there will be no impact on the active drill program at the Rover Copper-Gold project near Tennant Creek in the Northern Territory, nor those programs planned for early 2012 on the Yorke Peninsula.

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Tue, 18 Oct 2011 15:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147840/adelaide-resources-and-quasar-resource-start-drilling-for-south-australian-uranium-20877.html
<![CDATA[News - Adelaide Energy targets production from Kilanoola South East Well 1 in South Australia ]]> http://www.proactiveinvestors.com.au/companies/news/147839/adelaide-energy-targets-production-from-kilanoola-south-east-well-1-in-south-australia-15849.html Adelaide Energy (ASX: ADE) will case and suspend the company’s onshore Kilanoola South East Well 1 at the PRL 13 tenement in the Otway Basin of South Australia following discovery of producible hydrocarbons.

The company drilled the well to a depth of 1,173 metres, where after two unsucessful drill stem tests which flowed water, black crude oil was recovered following a 1.5 hour flow period. 

This equated to 60 barrels of oil per day, with a water cushion. Oil flow increased when the well was shut for a three hour build up period.

A ‘workover’ rig will install a pump and complete the well. The rig is due for release on Sunday 1 May following the running and cementing of the 7 inch production casing.

Carl Dorsch, managing director, said “we knew oil was there as we had had such encouraging fluorescence shows from 957 metres whilst drilling – it is highly likely there is more movable oil up to this depth giving a good column to work with.

"We consider that the potential for commercial petroleum discoveries in this large and well located Basin are far from ‘played out’ and that the data from ongoing exploration activities, together with sound geo-technical analysis will give rise to many more prospects.”

An existing operations base at the company’s Katnook Project will allow Adelaide to manage oil production from the tenement with low operations costs making the project commercially viable.

Adelaide’s wholly-owned Katnook Gas Plant has a pipeline connection to the national pipeline grid and local gas customers, as well as the company’s Jacaranda Ridge 2 Well.

Earlier this month, the company offered 30 million company shares at $0.14 in a share purchase plan to investors with parcel subscriptions of up to $15,000 concluding Tuesday 3 May.

The money raised will go towards funding shale gas exploration and appraisal programs in South Australia and Queensland.

The company holds minority stakes in joint venture tenements with Beach Energy (ASX: BPT) in the Cooper Basin as well as a JV with Icon Energy (ASX: ICN) in the same region. Adelaide has three minority stake JV tenements in Queensland’s Maryborough Basin with Blue Energy (ASX: BUL) and another JV with Icon in the Surat Basin of Queensland.

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Fri, 29 Apr 2011 13:59:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147839/adelaide-energy-targets-production-from-kilanoola-south-east-well-1-in-south-australia-15849.html
<![CDATA[News - Adelaide Resources hits significant near surface gold-copper zone at Moonta ]]> http://www.proactiveinvestors.com.au/companies/news/147838/adelaide-resources-hits-significant-near-surface-gold-copper-zone-at-moonta-14284.html Adelaide Resources (ASX: ADN) has hit significant mineralisation at the Moonta Copper-Gold Project, including; 35 metres at 0.73 grams per tonne (g/t) gold and 1.14% copper from 25 metres, from hole WAC60.

Included in the discovery was a section of; 15 metres at 1.24g/t gold and 1.58% copper.

The potential for Moonta is building with these latest near surface hits, as Adelaide Resources said drilling has revealed a shallow body of low to moderate grade copper-gold mineralisation that is starting to demonstrate continuity in three dimensions.

Importantly, the best gold and copper intersections are located in the thickest, central part of the deposit.

Chris Drown, managing director, said “These latest results increase our confidence that we have discovered a copper-gold deposit of potential significance at Willamulka.

“The low to moderate grades encountered to date are compensated to a degree by the very shallow depth to the top to the mineralisation, while higher grades encountered in some holes, including WAC60, confirm that attractive higher grade is certainly present in places.”

The market has applauded the discovery, pushing the stock $0.03 higher to $0.20 in afternoon intra-day trading.

 

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Mon, 28 Feb 2011 15:22:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147838/adelaide-resources-hits-significant-near-surface-gold-copper-zone-at-moonta-14284.html
<![CDATA[News - Adelaide Resources hits more high grade copper at Rover 1 prospect ]]> http://www.proactiveinvestors.com.au/companies/news/147837/adelaide-resources-hits-more-high-grade-copper-at-rover-1-prospect-12434.html Latest drilling by Adelaide Resources (ASX: ADN) has intersected further significant copper at the Rover 1 Prospect.

Assay results confirm drill hole R1ARD41-1 has intersected 11.4 metres at 2.63% copper and 1.42g/t gold from 463 metres downhole.

The lower 5.4 metres of the intersection contains high grade mineralisation assaying 4.21% copper, while gold grades in the intersection range up to 4.0g/t gold.

The prospect is located on company’s wholly owned Rover Project near Tennant Creek in the Northern Territory.

Neighbouring explorer Westgold Resources (ASX: WGR) extended R1ARD41-1 into the tenement as part of the co-operative drilling agreement with Adelaide. 

Westgold recently announced a bonanza grade intersection of 6 metres at 78.7g/t gold and 1.0% copper in its part of the drillhole, with one sample returning an assay of 375g/t gold.

The 11.4 metre intersection reported above is the uphole continuation of this same zone of mineralisation confirmed to include intervals of bonanza grade gold.

The complete intersection in R1ARD41-1 is estimated to be approximately 17 metres at 28g/t gold and 2% copper.

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Thu, 09 Dec 2010 12:36:00 +1100 http://www.proactiveinvestors.com.au/companies/news/147837/adelaide-resources-hits-more-high-grade-copper-at-rover-1-prospect-12434.html
<![CDATA[News - Adelaide Resources raises $2.3m, to aggressively drill Rover field ]]> http://www.proactiveinvestors.com.au/companies/news/147836/adelaide-resources-raises-23m-to-aggressively-drill-rover-field-2690.html Adelaide Resources' (ASX: ADN) Tennant Creek gold aspirations received a boost, closing a $2.3 million capital raising at 19 cents per shares.

Investors may be aware that Tennant Creek has been a standout as a region for large gold mines and recent gold and copper discoveries.

The Warrego mine produced 1.4 million ounces at 6/6g/t Au. Nobles Nob mine produced 1.1 million ounces at a high 17.3 g/t Au and Juno 815,000 at a whopping 56.1 g/t Au.

Emmerson Resources (ASX: ERM) and Ivanhoe Australia (ASX: IVA) have a joint venture to spend $18m drilling at Tennant Creek.  While Westgold Resources (ASX: WGR) has recorded some huge gold hits at the Rover field in Tennant Creek, including 65.8 metres @ 11.0 g/t Au and 32 metres @ 20.8 g/t Au.

Onto Adelaide Resources.  Which owns even more tenement ground in the Rover field, abutting Westgold Resources' recent discoveries. Adelaide Resources acquired its 3 tenements from Newmont, that cover 287 sq. km

ADN drilled in the eastern part of the Rover 4 prospect recently, and one hole returned 9 metres at 1.57% copper and 1.09g/t gold; and 4 metres at 0.69% copper and 2.30g/t gold.  Another hole intersected 25 metres at 1.05% copper, including 9 metres at 1.66% copper.

There were also some good gold hits, 48 metres @ 0.58 g/t Au and 2m @ 20.0g/t Au.

With topped up cash levels enabling drilling at Rover to intensify in 2009/10, ADN is definitely worth watching with its "main game" at Rover in the Tennant Creek hotspot.

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Tue, 29 Sep 2009 07:41:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147836/adelaide-resources-raises-23m-to-aggressively-drill-rover-field-2690.html
<![CDATA[News - Adelaide Resources starts aircore drilling at Cleve uranium prospect ]]> http://www.proactiveinvestors.com.au/companies/news/147835/adelaide-resources-starts-aircore-drilling-at-cleve-uranium-prospect-1450.html Adelaide Resources Ltd (ASX:ADN) has advised that a RAB/aircore bedrock drilling program targeting uranium has commenced on the Cleve project, located on the Eyre Peninsula of South Australia.

The Cleve tenement is conceptually prospective for a style of uranium mineralisation referred to as “unconformity-related”. Examples of unconformity-related uranium deposits include the Ranger mine in the Alligator Rivers region of the Northern Territory, and deposits in the Athabasca Basin in Saskatchewan, Canada, including the high grade Cigar Lake and McArthur River ore bodies.

The Cleve drilling program will target the intersections of interpreted fault structures and potential host sequences close to a regional unconformity. Up to 2500 metres of drilling will be completed, with drill samples assayed for uranium and a range of other elements including gold and copper.

The exploration program is being partly funded through the South Australian Government’s successful PACE program, with results likely to be available for reporting at the end of the June Quarter.

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Thu, 14 May 2009 11:29:00 +1000 http://www.proactiveinvestors.com.au/companies/news/147835/adelaide-resources-starts-aircore-drilling-at-cleve-uranium-prospect-1450.html