Location, location, location. It's been said time and time again that the best place to find a mine is either right beside or right below an already existing mine. If those facts hold, then the company we will look at might have a shot at hitting the big time mainly because of its location, which is the world-renowned Abitibi Greenstone Gold Belt of Canada. A premium location right smack dab in the middle of dozens of existing mines that combined have produced tens of millions of ounces of gold. In fact, this region has produced over 170 million ounces of gold, and more is being found every day.
There are thousands of small juniors that are out trying to find the next big find and the truth is that most never find a thing. However, Aldershot Resources Ltd. is one of those small junior gold explorers that might become the exception not only because of its location, but because of what has already been discovered so far from the properties optionor, Transition Metals. In 2011, an exploration program led to the discovery of a number of zones of gold mineralization over a strike length of 1.5 km, which contained visible gold right at surface. For Transition Metals this find became known as the Haultain Gold Discovery. Since that time Transition Metals has been actively exploring the property while incurring exploration expenditures exceeding one million dollars which included a geophysical survey, a soil gas hydrocarbon geochemical survey and 2,251 metres of diamond drilling. Transition Metals also prepared a technical report regarding the project compliant with the requirements of NI 43-101.
In April of 2016, Aldershot Resources executed a binding letter of intent to enter into an option agreement with Transition Metals to acquire a 51% interest and up to a 75% interest interest in this property. Even though the property has a 43-101 report, Aldershot is updating the report and plans on following up with recommendations advised in the report in regards to drilling and trenching. Having this information updated, Aldershot Resources is now planning a $400,000 trenching and drill program to test further high priority target areas as well as testing gold mineralization at further depths.
The Gowganda property consists of 34 unpatented mining claims comprising of 220-16 ha units covering an area of approximately 3,520 hectares. This area is located alongside the Ridout Fault which is one of the three main faults that runs through the entire Abitibi Greenstone Belt. This fault produced over 3 million ounces of gold over 70 million ounces of silver. Exploration on this property along this fault has turned up some very impressive results to date such as gold values up to 97.6 g/t gold in grabs, with channel samples averaging 3.5 g/t Au over 20 m x 60 m long corridor. Of the 21 drill holes that were drilled in 2011, some of those drill results were quite exceptional. Some examples include:
Along these faults are mineralized intrusions called dykes. Geological mapping and trenching has exposed a large zone of mineralization in what is called a syenite dyke swarm. Most of the significant gold assays are from stockwork quartz and quartz-carbonate veins in these syenite dykes. The Stockwork systems demonstrate good geological continuity and have been traced along strike on surface for a length of more than 1.5 kilometers.
The second areas of interest are mineralized shear zones or shear structures. These shear zones ar weak fragmented types zones where gold can be found. Some areas along these structures can be quite rich. In fact one drill hole intersected 82.5 g/t gold over 0.4 metres.
During the winter of 2017, Aldershot began an aggressive work program which consisted of exploration work consisting of a structural study, trenching and sampling. A total of 30 chip samples were collected from multiple point sites across 5 identified shear veins. Several multi gram gold values from re-sampling were assayed with the highest value of 8.49 g/t gold being returned.
In February the company started a drilling campaign and to date two holes have been logged and assays returned. The table below shows the recorded results from the two drill holes.
News Update! On April 5 2017 Aldershot issued the results from a third hole that was drilled during the winter. The results were impressive! 11.52 m of 1.63 g/t gold. Along with these above average gold showings the company also reports a high grade cobalt showings.
Overall Summary
Today there are thousands of junior mining companies to invest in. With the recent rebound in metals and gold in particular, investor taste for these kinds of investments have turned positive. Prudent and contrarian investors know all too well that these kind of investments run in cycles. Knowing these cycles there is no doubt that the world has seen the bottom of the bear cycle and the time to look at investing in these types of investments is now. Investors who understand this will be active in evaluating companies and projects that have a lot of positives and this is a catagory that Aldershot Resources is in.
Here is some good reasons to have Aldershot Resources on your investing radar.
Location! In The Abitibi Greenstone Belt
Aldershot has only 49,700,000 and approximately 62,000,000 fully diluted (of note, With a little positive news and market conditions, option and warrant exercises would result in $970,000 coming into the corporate treasury) The stock has a 52 week high of 0.095 cents and a low of 0.015 cents.
