Aurelia Metals Limited (ASX: AMI) announced (on 28th February 2019) that the company undertook underground drilling at Hera mines, which returned promising results with high-grade base metals and gold intercepts.
The Hera mines are located in new south wales, and the company undertook drilling on the upper north Pod, which confirmed dip potential. The company initially had drilled 12 holes and announced the same on 18th December 2018, and for further progressing on exploration and Resource infill it drilled another 34 holes, which returned multiple high-grade base metals, silver and gold intercepts.
The company received strong high grades ore particularly from two drill holes named as HRUD642 and HRUD651, and promising grades from other drill holes supported the strong high-grade. The high-grade ore form HRUD642 and HRUD651 extended high-grade trend along the North Pod beyond the existing inferred resources and current-life-of-mine (LOM) Stoping plan.
HRUD641 extends the North Pod to the 170 level, which is 100 meters above the company’s Stoping plan and have gold and silver mineralisation. Aurelia Metals further plans to enable exploration up-dip.
The results of the drilling were as:
HRUD648B had 3.7% Pb+Zn, 27g/t Ag & 8.0g.t Au at 18.5 metres and at 7 metres 4.4%Pb+Zn, 27g/t Ag & 19.6g/t Au.
The promising drilled hole HRUD642 had 45.1% Pb+Zn, 229g/t Ag & 0.3g/t Au at 7 meters.
HRUD651 had 18.3% Pb+Zn, 188g/t Ag & 0.8g/t Au at 14 meters and 35.4% Pb+Zn, 222g/t Ag & 0.3g/t Au at 6 metres.
HRUD632 had 4.5%Pb+Zn, 19g/t Ag & 5.3g/t Au at 127 metres and 4.9%Pb+Zn, 32g/t Ag & 42.5g/t Au at 2 metres.
HRUD627 had 23.1% Pb+Zn, 106g/t Ag & 0.6g/t Au
HRUD637 had 9.4% Pb+Zn, 121g/t Ag & 0.6g/t Au at 11 metres and 21.6% Pb+Zn, 258g/t Ag & 0.2g/t Au at 4 metres.
HRUD643 had 15.9% Pb+Zn, 278g/t Ag & 0.1g/t Au at 6 metres, HRUD641 had 0.7%Pb+Zn, 327g/t Ag & 5.4g/t Au at 4.7 metres.
HRUD653 had 4.3% Pb+Zn, 363g/t Ag & 1.4g/t Au at 5 metres.
The share price of the company is in a continuous major uptrend and started the initial rally from A$0.012, which marked a day’s low on 30th September 2015, and is on a continuous surge from that level. The share of the company started a recent rally from the level of A$0.657 which marked a day’s low on 7th January 2019 and marked a day’s high of A$0.945 on 25th February 2019. During this rally, the share corrected to the level of A$0.710, which marked a day’s low on 22nd February 2019.
During the time of writing this report, the share of the company was trading at A$0.880 (Closing price as on 28th February 2019), down by 2.222% as compared to its previous close. During the session, the share made a day’s high of A$0.910 and a day’s low of 0.877 with an average volume 2,543,978.
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