Alderan Resources Ltd (ASX:AL8) has significantly expanded its holdings near the company’s Frisco Project in Utah, US, increasing the potential for several new copper discoveries.
The company has expanded its mineral rights in the Milford region by staking more than 719 new mineral claims and has secured a State Mineral Lease.
Alderan’s new claims cover historically mined mineral districts with extensive skarn, breccia and epithermal mineralisation that are each likely to be related to a larger porphyry mineral system similar to Frisco.
We have expanded our holdings in the Frisco region, Beaver County, Utah – potential for several major #copper discoveries: https://t.co/xg448WEGjE pic.twitter.com/gNv1ne0W27
— Alderan Resources (@alderanrscs) March 27, 2018
Rio Tinto has staked new claims in the region
Alderan’s project is within the under-explored Pioche-Marysvale Igneous Belt which is similar to the Bingham Igneous Belt located 300 kilometres to the north, which hosts the world-class Bingham Canyon copper-gold mine.
The company’s expansion of holdings follows Bingham Canyon operator Kennecott (a division of Rio Tinto) staking 320 lode claims adjoining the Frisco Project.
Alderan is also witnessing increasing third-party interest and activities in the region.
Drilling of high-priority targets to commence in June
Alderan is initially focusing on exploring the Accrington, Perseverance and Cactus Corridor prospects, each representing large exploration targets.
The company is planning to commence drilling high priority targets at Accrington and Perseverance in June.
Alderan is evaluating various strategies to unlock the potential of the new project areas including a possible spin-off and initial public offering.