Aldershot Resources Ltd, is pleased to announce that it has entered into a Letter Agreement leading to a joint venture with Strategic Minerals Corporation NL (ASX:SMC) of Perth, Western Australia, covering SMC’s Exploration Licence 3508 in South Australia. Under the terms of the Agreement Aldershot may acquire a 70% interest by expending AUD250, 000 over a period of two years. Upon the Company completing its expenditure commitment Aldershot and SMC shall associate in an unincorporated joint venture for the purpose of exploring and, if warranted, developing and mining the Tenement for minerals. Highlights:

- “This project represents a second string to Aldershot’s bow.” Company director Mr Phil Crabb notes, “It broadens Aldershot’s focus from uranium specific projects to iron ore and potentially multi-commodity (iron-copper-gold-uranium) projects.”

- Aldershot’s geological consultant, Barry Fehlberg BSc Hons, MAusIMM, reports, “A strong discordant magnetic anomaly along the southern edge of the Willippa Dome suggests a large magnetite rich zone at depth, possibly coincident with the Holowilena Ironstone.

“A second interpretation suggests the magnetic anomaly is caused by iron metasomatism related to ascending hydrothermal fluids associated with the diaper formation, particularly where the fluids are brought into contact with reactive rocks. “As a result there are two exploration targets being considered: iron ore as a magnetite body associated with the Holowilena Ironstone; and a magnetite body with associated Cu (Au-U) mineralization related to a diapiric structure. The plan is to drill test this magnetic anomaly.”

The project area, covering 784 square km and located 380 km north of Adelaide, covers the northern Adelaide Geosyncline (Central Flinders Ranges) and western margin of the Curnamona Province, host to the Broken Hill (Ag-Pb-Zn) Deposit, the Mt Gee and Crocker Well uranium deposits. The overlying Tertiary channel sediments derived from the Curnamona Province are equivalent to those which host the Beverley, 4 Mile and Gould’s Dam uranium deposits.

The Licence area is half covered by the younger (Tertiary to Recent) sediments which overlie Neoproterozoic dolomite, shale and siltstone units of the Umberatana Group (Adelaide Geosyncline). Distinctive dome and basin folding has led to the development of two prominent diapiric domal structures, the Willippa and Martin’s Well Domes. Associated northeast – southwest trending faults intersect both domal structures. Recorded mineralisation in the area including barite, copper and manganese has a strong spatial relationship with these diapiric structures and the faulting. The Martin’s Well Dome, with a more regular shape and at a higher stratigraphic level than the Willippa Dome, is more faulted being within a northeast trending structural corridor. Mineralisation in the area is associated with these major structures. The Reaphook (Zn) Deposit lies 15 kilometres northeast of the Licence. The Willippa Dome has a dolomitic core and has minor associated copper mineralisation. The dolomites are overlain by 200m of tillite and a 20m-50m thick ironstone unit (Holowilena Ironstone).

The initial exploration focus will be on the Willippa Dome where the Holowilena Ironstone is visible as a dominant east-west ridge at the Willippa Dome some 2 kilometres long and rising 100 to 150 metres above the surrounding area. The ridge is composed of finely laminated haematitic siltstone between 20m and 50m thick that dips to the south at 50 to 60 degrees. Two surface grab samples assayed 37.1% Fe and 35.4% Fe.