Alderan Resources Limited announced it has commenced its planned 20 hole (~2,000m) reverse circulation drilling programme at Mizpah oxide gold deposit at its Detroit project in the Drum Mountains region of western Utah, USA. The programme's initial focus will be confirming high-grade near-surface oxide gold mineralisation. Mizpah is located only 2km north of the historical Drum oxide gold mine which Alderan successfully drilled in H1, 2022 with all verification holes intersecting gold including 6.6m @ 2.5g/t Au within 17.8m @ 1.7g/t Au in hole 9DD22-003.1 Mizpah, which was drilled in the 1980s, sits in the same rocks as Drum but unlike the historical mine, it was never developed into a mining operation hence gold mineralisation remains from surface.

Historical drilling results include 40 holes which have a final assay grading more than 0.5g/t Au and 20 of these holes have last assays grading more than 1.0g/t Au. The highest final assay down a historical hole is 9.1g/t Au in hole MZ-87-52.2 Alderan's historical drill hole constrained modelling of the Mizpah's deposit indicates exploration potential for approximately 40-100Koz of gold grading at approximately 0.4-0.8g/t Au, however the deposit is open down dip to the southwest and along strike to the north and south. It should be noted that this exploration potential quantity and grade is conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource and that it is uncertain if further exploration will result in the estimation of a Mineral Resource.

Alderan drillholes DD-MZ-20-006 and 3DDMZ-001 which intersected 83m @ 0.41g/t Au and 69.5m @ 0.18g/t Au respectively are located 190m and 350m to the west-northwest of the deposit and indicate that Mizpah's mineralising system is significantly larger than historically outlined.3 Alderan's Mizpah drilling programme is expected to be completed in September with all holes logged and samples submitted to the laboratory for gold analysis. Results are expected early in Q4, 2022. In addition to the drilling, Alderan has planned early `sighter' metallurgical test work to obtain an indication of gold metallurgical recoveries and infill soil sampling at Detroit to better define the gold in soil anomalies identified from the broadly spaced 200m x 40m sampling programme completed in 2021.4 This sampling will be carried out following the completion of the Mizpah drilling.

The Detroit Project is one of four Alderan projects in Utah, USA. It lies within the Detroit Mining District, approximately 175km southwest of Salt Lake City, and contains numerous historical copper, gold and manganese mines. The district has been explored for copper and gold in the past by major mining companies such as Anaconda Copper, Kennecott, Newmont, BHP and Freeport-McMoRan but no one company was able to build a significant contiguous land position to enable district-wide modern exploration.

The United States Geological Survey has also explored the area, sampling extensive mineralised jasperoids.