How Aurelia’s Recent Drilling Marks A Transition Of The Chronos Gold Lode?

  • May 27, 2019 AEST
  • Team Kalkine
How Aurelia’s Recent Drilling Marks A Transition Of The Chronos Gold Lode?

Aurelia Metals Limited (ASX: AMI) an Australian Securities Exchange listed metal miner provided an update on exploration drilling conducted by the company above the Chronos lode at the Peak Mine, where the company recently conducted phase 1 of the exploration work.

AMI undertook an underground drilling program at Chronos to extend the high-grade mineralisation up-dip and completed it with 24-holes. The company finalised the assay results of the initial sixteen holes, some of the holes which returned strong mineralisation intercepts are as:

The drill hole identified as UD19PV1712 intercepted 24 metres at 29.6% of both lead and zinc and 0.4g/t of gold and 44g/t of silver.

The drill hole identified as UD19PV1714 intercepted 4 metres at 0.6% of lead and zinc, 5.5g/t of gold & 4g/t of silver, and a further interception in the same hole retuned 19 metres at 34.1% lead and zinc, 0.9g/t of gold & 48g/t of silver.

The drill hole identified as UD19PV1715 intercepted 23 metres at 27.3% lead and zinc, 0.2g/t of gold & 46g/t of silver, which further includes 9 metres at 40.7% of lead and zinc, 0.4g/t of gold & 50g/t of silver.

The drill hole identified as UD19PV1705 intercepted 25 metres at 21.6% of lead and zinc, 0.7g/t of gold & 35g/t of silver, which further includes 8 metres at 39.3% of lead and zinc, 1.8g/t of gold & 51g/t of silver.

Significant interceptions from recent drilling (Source: Company’s Report)

The drill hole identified as UD19PV1737 intercepted 15 metres at 35.1% of lead and zinc, 2.3g/t of gold & 82g/t of silver.

The drill hole identified as UD19PV1704 intercepted 15 metres at 28.2% of lead and zinc, 4.5g/t of gold & 76g/t of silver, which further includes 5 metres at 46.8% of lead and zinc, 12.4g/t of gold & 143g/t of silver.

The drill hole identified as UD19PV1708 intercepted 16 metres at 33.0% of lead and zinc, 1.9g/t of gold & 67g/t of silver.

The drill hole identified as UD19PV1708 12 metres at 4.8% of lead and zinc, 7.9g/t of gold & 8g/t of silver, which further includes 14 metres at 31.2% of lead and zinc, 0.7g/t of gold & 40g/t of silver.

The results from the underground drilling program extended the known high-grade mineralisation at the prospect of the Peak Mine to at least 9700mRL level, which is more than 100m above the current limits of delineated resources and more than 140m above the top of the current stoping level of 9560mRL.

The results received by the company signifies the presence of high-grade base metals on the Chronos gold lode at the Peak Mine, which in turn, marks a transition of a gold lode into a high-grade base metals deposit. AMI previously discovered high-grade mineralisation at its Federation Prospect.

Recent and existing drilling in the upper part of the high-grade Chronos lode (Source: Company’s Report)  

Price Actions:

The share prices of the company moved in a downtrend from the level of A$0.990 (Day’s high on 21st March 2019) to the level of A$0.530 (Day’s low on 9th May 2019). However, the prices took a U-turn from the level of A$0.530 and rose till A$0.655 (Day’s high on 17th May) before correcting till A$0.595 (Day’s low on 24th May 2019).

The share prices of the company are currently hovering at A$0.660 (as on 27th May 2019 AEST 2:36 PM), up by 8.197%.


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