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Aguia (ASX:AGR) receives strong assays confirming resource model for Brazilian copper project - Kalkine Media

November 24, 2022 11:30 AM AEDT | By Aditi Sarkar
Follow us on Google News: https://kalkinemedia.com/resources/assets/public/images/google-news.webp
Aguia (ASX:AGR) receives strong assays confirming resource model for Brazilian copper project
Image source: © Arturoli | Megapixl.com

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Highlights

  • Aguia Resources (ASX:AGR) has received high-grade assay results from infill drilling at its Brazilian copper project.
  • The results confirm the current resource model, said Managing Director Dr Fernando Tallarico.
  • With the completion of infill drilling, the company plans to update the resource. Along with metallurgical tests,, the company will be able to prepare a preliminary feasibility study of the project.
  • The company is eyeing a grant of AU$600,000 from the Brazilian Federal Research Fund for its Cathode Green Copper Project.

Australian mineral exploration company Aguia Resources Limited (ASX:AGR) is riding high with the release of the latest strong assay results from diamond drilling at its copper project in the Rio Grande Copper Belt.  

The ASX-listed multi-commodity company says that the latest assays confirm its existing copper mineral resource model for the project.

The drilling program was targeted on the shallow and high-grade portions of Aguia’s copper mineral deposit. A total of 25 holes totalling 2,646 metres mark the completion of the infill drilling program, enabling the company to proceed to a preliminary feasibility study.

Image source: Company update

Image description: Resource model with the areas to be drilled in each phase of the 2022 drilling program 

Assays of high-grade copper zones

Aguia’s copper project sits within the State of Rio Grande do Sul, the southernmost State of Brazil. Previous drilling at the Brazilian copper project in the same portion had delivered high-grade mineralisation with best intercepts of 38.20 metres grading 1.42% copper from 76 metres.    

Latest assays of high-grade copper zones

© 2022 Kalkine Media®, Data source: Company update

R&D grant for Cathode Green Copper Project

Further, the company updated that it is eyeing a grant of AU$600,000 from the Federal Research Fund for its Cathode Green Copper Project. The project is in the final stages of approval for the research and development grant.

© 2022 Kalkine Media®, Data and image source: Company update

AGR shares traded at AU$0.061 on 23 November 2022.

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