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NEWS

The revival of the Youanmi district has been led by Spectrum at Penny West

Penny drops for Aldoro

by Mark Andrews

ldoro Resources Ltd has arrived at the Youanmi district the contiguous licence right next door touching it [Penny
Aparty at the right time. West] with a 2.5km strike extension with the same structure,”
“I think anything prospective is gone. You can clearly see Marriott said.
where the structure is running north/south; Spectrum Metals “We have been doing work over the last couple of months
Ltd is there, then there’s us to the south of them and the Rox based on a high-resolution ground mag survey to get a better
Resources [Ltd]/Venus Metals [Corp] JV. There’s a few guys structural and geological interpretation of the area because it
to have picked up some ground off the Spectrum hype to the suffers from about 10m of cover and thick bush.”
east and west with tenements covering 100% granite terrain Marriott said the known geology has been lacking and
with no structure, no continuation, pretty barren, so we think now that the company had a pretty good handle on the
we have the key piece if you like,” Aldoro managing director interpretation of the area it was keen to start drilling newly
Caedmon Marriott told GMJ. identified targets.
GMJ Explorer of the Year nominee Spectrum (see page Spectrum had completed about 30,000m of RC and diamond
30) has reignited the historic Youanmi mining district with drilling before releasing its maiden resource, having
the high-grade Penny West gold project where a maiden benefitted from previous mining and historical drilling.
resource of 355,000oz @ 13.8 g/t gold was announced in
However, Spectrum did start from a low base in 2019 and
October, just nine months after it acquired the project.
has quickly become a crowd favourite.
Aldoro hopes to replicate Spectrum’s success in the next 12
“They made a fantastic discovery under Penny North, under
months.
one random drill hole. We have some similar targets – 3-4
The company received a positive reaction in the market random drill holes if you like – showing good indications for
when it was announced that it would acquire 100% of Altilium us to go and test underneath,” Marriott said.
Metals Ltd, owner of Penny South, Narndee, Unaly Hill South
“Before we do that, we are going to do this aircore
and Windimurra.
programme, which will test the entire strike length because
Altilium’s assets, combined with Aldoro’s prospects in the the actual corridor we see is under drilled.”
Cathedrals Belt, have created a West Australian gold and
Aldoro will target the granodiorite unit within the mag along
nickel focused entity ready for high tide in both commodities.
with shallow surface drilling that was previously done in the
Marriott and Rhod Grivas were managing director and wrong place.
chairman of Altilium, respectively, and are now part of
“We can then test depth beneath that. We are looking for
Aldoro’s board.
shallow gold mineralisation, but also just granodiorite with
At the time of print, Aldoro was awaiting approval to start a pathfinder elements to Penny West and associated lead and
programme of aircore drilling at Penny South. zinc. That can indicate a mineral system as well. We think it
If approval is granted, Aldoro will be drilling at both Penny is very underexplored,” Marriott said.
South and Leinster (nickel) during Q4. “If we can get under the initial surface feature then we will
It is a good time to be in both commodities and any success be doing big drilling at the end of Q1/Q2 2020 and hopefully
could see Aldoro rise quite quickly. we are coming back with a deeper RC programme to test
“Spectrum has done the area [Younami] a great favour in the the initial targets; there is enough time for us to replicate
first half of 2019 with a spectacular discovery and we have Spectrum [performance in 2019] for sure.”

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