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Aldrin Resource Corp (2)
Symbol ALN
Shares Issued 23,594,441
Close 2015-09-30 C$ 0.15
Market Cap C$ 3,539,166
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Aldrin prepares for follow-up drilling at Triple M

2015-09-30 11:02 ET - News Release

Mr. Johnathan More reports

ALDRIN PROVIDES UPDATE ON NEW DISCOVERIES IN THE TRIPLE M PROPERTY AREA

Aldrin Resource Corp. has provided an update and commented on its Triple M property in the Patterson Lake district of Saskatchewan.

Aldrin's Triple M property is adjacent to the PLS property of Fission Uranium Corp. Fission recently reported, by news release dated Sept. 24, 2015, new drill intersections of anomalous radioactivity for both its Forrest Lake and Patterson Lake corridors on its PLS property, which is adjacent to Aldrin's Triple M property. In the Forrest Lake corridor, Fission reported hand-held scintillometer readings of weak anomalous radioactivity of 360 counts per second over 0.5 metre (273 metres to 273.5 metres) and 320 counts per second over 0.5 metre (287.5 metres to 288 metres), as well as positive features of hydrothermal alteration within prospective pelitic gneiss, only 3.5 kilometres east of Aldrin's Triple M property. These zones of anomalous radioactivity project along the Forrest Lake fault, which continues onto the Triple M property, where Aldrin previously drill tested the fault. Aldrin's drill tests of the Forrest Lake fault (reported in a news release dated April 22, 2014) also returned features of strong hydrothermal alteration within a major structural zone, intersecting locally brecciated pelitic gneiss, with extensive chlorite and pyrite alteration, as well as two graphitic fault zones with elevated radioactivity, as detected by hand-held scintillometers (model RS125).

Aldrin's technical team believes that the Forrest Lake fault system appears prospective for uranium mineralization on both Aldrin's Triple M property and Fission's adjacent Patterson Lake property. Aldrin also notes that Fission reported anomalous radioactivity from a downhole gamma survey and hand-held scintillometers on at least two basement conductors in the Patterson Lake corridor, outside Fission's high-grade Triple R deposit. Aldrin's technical team believes that Fission's recent successes encountering anomalous radioactivity on basement conductors outside its Triple R deposit itself bodes well for the potential of additional discoveries.

Aldrin is preparing to do follow-up drilling of its Triple M property's high-priority anticline target, which previously demonstrated is uranium mineralized at multiple levels. The first drill hole into the anticline target (ALN14-008), as detailed in a news release dated June 27, 2014, intersected strong uranium mineralization over significant intervals, including:

  1. 53.4 parts per million uranium over 10 metres between 178 metres and 188 metres, including a higher-value zone of 148.7 parts per million uranium over 1.5 metres between 182.5 metres and 184 metres;
  2. 273 parts per million uranium over 0.5 metre between 235 metres and 235.5 metres;
  3. 97.4 parts per million uranium over 3.5 metres between 243 metres and 246.5 metres, including a higher-value zone of 144.8 parts per million uranium over two metres between 243.5 metres and 245.5 metres.

In light of new neighbouring drill reports of anomalous radiation in the Triple M property area, Aldrin believes the possibilities for additional uranium mineralization in the area are enhanced significantly.

Dr. Harrison Cookenboo, PhD, PGeo, is a qualified person by the standards of National Instrument 43-101. He has reviewed the technical data described above and approves the contents of this news release.

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