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Highlights
- Aguia Resources (ASX:AGR) has reported an encouraging update from its ongoing drilling program at the Andrade project.
- The company has hit further high-grade copper mineralisation at the project.
- The ongoing infill drilling campaign is aimed at upgrading the resource category to Measured & Indicated.
Aguia Resources Limited (ASX:AGR) has announced another round of successful results from an ongoing drilling program at its Andrade Copper Project in the Rio Grande Copper Belt in southernmost Brazil.
The company has intercepted further high-grade copper mineralisation at the project.
Triggered by the update, shares gained over 5.4% to close the day’s trade at AU$0.058 on 12 July 2022.
Strong assay results
Initial phase of the 2,000-metre diamond drilling program has delivered strong assay results at the Andrade project. This 2,000-metre diamond drilling is the first phase of the infill drilling program proposed across four phases.
The company has concluded 14 drill holes totalling 1,300 metres to date. Through the drilling, the company focuses on the high-grade and shallow ore body portions of the Andrade deposit.
Andrade drilling plan map (Source: AGR Announcement 12/07/2022
Significant high-grade mineralisation was returned from earlier holes that included intercepts of 28.77 metres grading 1.83% copper from 63.63 metres with a higher-grade zone of 19.39 metres grading 2.55% copper.
The recent assay results comprise the following intercepts:
Source: AGR Announcement 12/07/2022
AGR shares a strong commitment to advancing its projects into production while continuously pursuing other opportunities within the sector.
The infill drilling campaign is designed to enhancing the resource category to Measured & Indicated. AGR believes that this upgrade is key to advance economic model and engineering studies for the project.
The company continues to intersect high-grade copper zones and validate the zones within the present Andrade Mineral Resource area.