Alderan Resources Limited announced drilling has re-commenced at the Drum Gold Mine (Drum) within its Detroit Project, located in the Drum Mountains region of western Utah, USA. Drum Drilling: The company's drilling at Drum aims to confirm the presence and grade of remnant oxide gold mineralization which the company has modelled from historical drill hole data. Once this is completed, the focus will move to extending and delineating the deposit which is open both down dip and along strike.

The company's initial hole at Drum, 9DD22-001, intersected a thick oxide gold mineralized interval of 16.2m grading 1.04g/t Au from 60.2m downhole which included higher grade intervals of 6.3m grading 2.9g/t Au and 1.5m grading 5.6g/t Au. This result verifies gold grades in historical holes drilled into the East Pit and also provides confidence in the company's modelling of gold mineralization remaining at Drum when mining ceased in 1989. The company has completed hole 9DD22-003 designed to test the southern end of the East Pit, where Alderan modelling indicates a 10-20m zone of oxide mineralization grading +1.0g/t Au remains below the pit bottom, at a depth of 145.24m.

Historical holes neighbouring the trace of 9DD22-002 include DM-12 which intersected 67m at 0.9g/t Au from surface with last assay 2.8g/t Au and DM-24 which intersected 22.9m at 1.2g/t Au from 47.2m downhole with its final assay 1.9g/t Au. Logging has highlighted that oxidation extends to 111m downhole and that the hole traversed the stratigraphy that hosts mineralization in the East Pit. Sampling of the hole is complete with all samples delivered to ALS laboratories for analysis.

The drill rig is now at Site A-1 on the north-western side of the West Pit where it will drill to the north to test down dip from Alderan in-pit rock samples which contained up to 10.7g/t Au and in the vicinity of historical drill holes YC-114 and YC-115 which intersected 9.1m at 2.0g/t Au from 49m downhole and 7.6m at 2.8g/t Au from 43m downhole respectively. Mizpah Drilling: Gold assays received for hole 3DD22-001, drilled to a depth of 164.89m, are highly anomalous and suggest the Mizpah deposit could be significantly larger than modelled from historical drilling. Assays down 3DD22-001 range up to 0.98g/t Au within an intercept of 69.5m grading 0.18g/t Au from 87.48m downhole which includes 5m at 0.77g/t Au.

The hole was designed to test the down dip extent of the company's DD20M-006 mineralized intercept which intersected 83m at 0.41g/t Au from 35.8m downhole including 6.9m at 1.98g/t Au3. Due to its close proximity to the Basin Porphyry intrusive complex, the hole traversed a sequence of interbedded metamorphosed carbonates and fine-grained clastic sediments consistent with stratigraphy throughout the Detroit district. The metamorphism has resulted in the development of marbles, skarns and hornfels and the contacts between the carbonates and clastics are sheared and brecciated.

The amount of gold encountered down 3DD22-001 is regarded as highly significant as it suggests that the Mizpah mineralized system could be significantly larger than previously defined. The hole is approximately 190m down dip of the DD20M-006 intersection and 350m down dip to the west of the margin of the Mizpah deposit. Detroit Drilling Update: The company has received all outstanding sample assays for holes 7DD21-003, and 6DD21-004, 005 and 006 completed in fourth quarter 2021.

These holes were part of the company's programme to test separate geochemical, geological and geophysical copper and gold targets at Detroit to ensure that future exploration focuses on the higher potential prospects. While there are some spot highs and assays down hole 6DD21-003 testing the Basin Main porphyry are consistently anomalous in copper, gold and molybdenum, the assays are generally of a low order. Hole 7DD21-003: Basin Main Magnetic Anomaly: Drill hole 7DD21-003, drilled to a depth of 513.07m, tested the Basin Main magnetic anomaly porphyry copper-gold-molybdenum target.

The hole traversed potassic, siliceous and sericite altered diorite and porphyry intrusives consistent with rocks in porphyry copper-gold-molybdenum deposits to its final depth of 513.07m. Quartz veins, veinlets and stockworking occurs throughout the hole. Pyrite content ranges up to 10% occurring in veinlets and stockworks.

Minor molybdenum and lesser chalcopyrite were observed locally down the hole. Maximum copper, gold and molybdenum sample assays were 417ppm Cu over 5.86m, 0.22g/t Au over 1.86m and 334ppm Mo over 6.15m respectively. Holes 6DD21-004 & 6DD21-006: Northern Extension Chargeability Anomaly: Drill hole 6DD21-004 was drilled to a depth of 209.4m, testing the Northern Extension chargeability anomaly for a distal disseminated gold deposit in favorable host stratigraphy and close to the Copperhead Fault which is interpreted to be one of the major mineralizing structures in the district.

The Northern Extension chargeability anomaly has a 3D inversion model strike length of 1.1km, width of 500m and depth extent of 500m at a >20 millisecond cut-off. The hole intersected a sequence of altered calcareous shales and siltstones interbedded with limestones and dolomites. The prospective Chisholm and Tatow units were both traversed with the Chisholm intersected over a downhole length of 61m having strongly developed iron oxide clays and local silicification.

The Tatow consists of a 33m length of brecciated, carbonaceous and calcareous siltstone and shale with dark fine-grained sulphide flooded bands. Gold assays are low grade with the higher assay 0.08g/t Au over a 1.5m interval from 185.14m to 186.64m downhole. Drill hole 6DD21-006, testing the Northern Extension chargeability anomaly approximately 200m southeast of hole 6DD21-004, traversed approximately 30m of Tatow clastic sediments which are brecciated throughout.

The upper portion is clay altered, carbonaceous and contains fine grained pyrite matrix fill while the lower portion shales and siltstones are brecciated, variably silicified and with 5% to 10% pyrite with dominant marcasite.