Ulaanbaatar, Mongolia–(Newsfile Corp. – December 14, 2021) – Aranjin Resources Ltd. (TSXV: ARJN) (the “Company” or “Aranjin Resources”) is very pleased to announce results from the recent drilling at the Sharga Copper Project (“Sharga” or “Project”).
First drilling program completed with results now received for all drill holes and Phase 2 follow up drilling planned.
Highly encouraging early results from six initial drill holes with a best result of 15.4 meters at 1.33% Copper and 0.94g.t Gold.
Wide zones of VMS style (massive to semi massive sulphides) mineralization up to 100 meters in width, indicating a substantial mineralized system has been discovered at Sharga.
Mineralised zones intersected in drilling are open along strike and at depth and this is further confirmed by preliminary dipole-dipole IP geophysics that tested and confirmed that the mineralisation intersected in drilling is open and remains untested by drilling.
The Company has successfully drilled six diamond core drill holes for a total of 2,211 meters at the East Prospect with a best result of 15.4 meters at 1.33% Copper and 0.94g.t Gold. These early results successfully demonstrate the discovery of a substantial VMS style base metal system with high grade copper and gold at Sharga. This is very early and only a tiny fraction of the targets on the project have been drill tested. While this drill campaign was short it supports the Company’s initial view that the Sharga Copper Project has strong potential for the discovery of high-grade copper gold deposits. The Phase 2 drilling program will cover a wider area and will include further drilling at the East Prospect and an additional five target areas that the company has been working on. This program is expected to commence early in 2022.
Better Drilling results included:
- 54.1 meters at 0.27% Copper and 0.35g/t Gold, including 7.7 meters at 1.04g/t Gold and 2.9% Zinc
- 9 meters at 0.64% Copper and 0.31g/t Gold including 1.9 meters at 2.25% Copper
- 5.15 meters at 1.73% Copper and 0.98g/t Gold including 1 meters at 4.51% Copper and 2.33g/t Gold and 100 g/t Silver
- 37.9 meters at 0.27% Copper and 0.50 g/t Gold
- 15.3 meters at 0.13% Copper and 1.05g/t Gold
- 15.4 meters at 1.33% Copper and 0.94g.t Gold, including 9 meters of 2.11% Copper and 1.02g/t Gold
- 16 meters at 0.52% Copper and 0.86 g/t Gold
Summary of the Drill Results:
A total of five prospects were identified as a consequence of the ASTER satellite image processing and geological mapping, in the license named North, Aguit, Khar Zurai, West, and East. Strongly silicified, reddish-brown limonite-hematite rich alteration zones “gossans” were mapped at all the prospects in variable sizes and are associated with schistose textured acidic volcanic rocks as well as elevated base metals and gold.
A total of six diamond drillholes with a total of 2,211 meters were completed at the East prospect. Over 100 meter thick, pyrite dominated, massive sulfide layers were intersected in the holes demonstrating a substantial mineralized VMS system. The best intercept was achieved in the last hole drilled and included 15.4m at 1.33% Copper and 0.94g/t Gold from 315.6m in drillhole SH-6 and included 9m at 2.11% Copper and 1.02g/t Gold from 322m.
The company has completed preliminary dipole-dipole IP test survey across the East and North Prospects and confirmed that the mineralization intersected in drilling is open along the strike and at depth. Additional IP and ground magnetic geophysics and soil and rock chip geochemistry will be undertaken in the coming months.
Significant intercepts were shown in below table.
|ID||Drill Hole||Depth, m||From (m)||To (m)||Core Length (m)||Cu (%)||Au (g/t)||Ag (g/t)||Pb (%)||Zn (%)|
Mineralized intervals are greater than 0.10 % Cu.
Higher grade sub-intervals are greater than 1.0 % Cu.
Mineralized intervals are greater than 0.30 g/t Au.
Mr. Wood, Executive Chairman of Aranjin Resources stated, “We are extremely pleased to announce the maiden drill results at the Sharga Copper Project. This drilling program and the recently completed geophysics, successfully demonstrates that the Company has discovered a substantial VMS mineralised system. We look forward to aggressively expanding our exploration efforts across our five target areas on Sharga in early 2022.”
On behalf of the Board
Aranjin Resources Ltd.
+976 7732 1914
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