Adelaide Resources (ADN)

Discussion in 'Stocks & Derivatives' started by VRS, Apr 30, 2013.

  1. VRS

    VRS Well-Known Member Silver Stacker

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    Dunno if anyone noticed ADN today (I don't hold) - up 300%+ today after announcing 'significant' resources with 'exceptional high grades' at Alford West...

    I do hope BGS turns a number like this on drill results due soon!

    START

    Valerina Changarathil
    April 30, 2013 11:12AM

    Shares in SA explorer Adelaide Resources up nearly 300 per cent in trading on Yorke Peninsula copper-gold find

    THE price of Adelaide Resources shares has soared 185 per cent in trading after the company found some of the highest grade copper-gold intersections on the Yorke Peninsula.

    The company said drilling results from its first drilling program at at its Alford West prospect are some of the highest in the 150-year history of South Australia's Moonta-Wallaroo mining region.

    The shallow, high-grade copper and gold intersections at Alford West announced today include exceptional hits of 20 metres at 4.20 per cent copper and 0.27 grams per tonne gold, and 45 metres at 1.55 per cent copper and 1.81 g/t gold.

    "These are some of the most significant copper-gold assay results ever achieved from exploration on the State's Yorke Peninsula and we believe they will be some of the best exploration results that any company, big or small, will achieve in Australia in 2013," Adelaide Resources managing director Chris Drown said.

    The results are from the first drilling program on the wholly owned Alford West prospect within Adelaide Resources' Moonta copper-gold project.

    The project is located at the southern end of the copper gold province which hosts BHP Billiton's Olympic Dam, OZ Minerals' Prominent Hill and the famous Moonta-Wallaroo mines.

    "These initial copper and gold grades are comparable with the grades from early drilling at the likes of the now producing mines at Olympic Dam and Prominent Hill, and exceed early exploration results from Rex's Hillside project," he said.

    "Significantly, our discovery is at much shallower depths than deposits like Olympic Dam or Prominent Hill, with some high grade intersections commencing within just 5 metres of the surface," Mr Drown said.

    Further focused drilling is being planned for the prospect.

    Shares in the company were trading around 16c, up 293 per cent, at 14.15 AEST.

    END
     
  2. slipage

    slipage New Member

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    would of been nice to jump on this yesterday all my money is tied up into bgs at the moment.
    easy money made yesterday

    ADN Run is over and is getting dumped

    Money now being thrown at bgs
     
  3. VRS

    VRS Well-Known Member Silver Stacker

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    Down to earth with a bump today, -40%!
     

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