Australia's Alderan Resources gains on new target finds by Rio Tinto unit

Hawk Resources

21/01/2022 02:26

** Shares of Alderan Resources Ltd  AL8.AX  rise as much as
13.8% to A$0.033 
    ** Copper and gold explorer says a UAV (drone) magnetic
survey by Kennecott Exploration Co (a unit of Rio
Tinto)identified three new target at co's Frisco project in
Utah, U.S.  urn:newsml:reuters.com:*:nASX1QsZgz
    ** Adds that Kennecott planning field inspections and
surface sampling in Q1, 2022
    ** Mentions that Kennecott can earn 70% interest in Frisco
via a $30 mln exploration spend over 10 years
    ** More than 2.5 mln shares change hands, compared with the
30-day average volume of about 744,000 
    ** Stock has risen 3.6% this year as of last close

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))