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Highlights
- Aguia Resources has intersected high-grade copper mineralisation at the Andrade Project in the first phase of its diamond drilling program.
- The results confirm the occurrence of high-grade mineralisation in the shallow zone of the deposit.
- The drilling campaign is aimed at improving the existing resource category of the Andrade Deposit to Measured & Indicated.
Multi-commodity company Aguia Resources Limited (ASX:AGR) is committed to unlocking the potential of its copper project located in Rio Grande do Sul, Brazil. Late last month, the Company received encouraging results from the initial phase of a diamond drilling program at the project.
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High-grade copper intersection at Andrade
The first phase of the drilling program involving 2,000 metres of diamond drilling at AGR’s Andrade copper project has delivered strong assay results. K
The key results from initial core assay results confirming the high-grade copper zone within the existing Andrade Mineral Resource area include the following:
- 19m at 1.95% Copper and 5.64 g/t Silver from 53m, including 6m at 2.84% Copper from 65m (Hole AND-22-008).
- 14m at 0.78% Copper and 6.14 g/t Silver from 46m, including 8m at 1.00% Copper from 52m (Hole AND-22-006).
- 11m at 0.40% Cu and 6.14g/t Ag from 41m (Hole AND-22-007).
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Source: AGR Presentation 25/05/22
This initial 2,000 metres of drilling forms the first phase of the infill drilling program, which is planned across four phases. AGR has concluded 11 drill holes to date, totalling 970 metres. The program will continue for the next six months.
Source: AGR Presentation 25/05/22
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Enhancing the resource category of Andrade
The drilling program focuses on the shallow and high-grade ore body parts of the deposit. Earlier holes in that part delivered significant high-grade mineralisation, including 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 current Mineral Resource Estimate is classified of an Indicated Resource of 18.03Mt at 0.41% Copper and 1.87g/t Silver and an Inferred Resource of 3.98Mt at 0.53% Copper and 2.06g/t Silver.
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Through this drilling program, AGR aims to enhance the present resource category of the Andrade Deposit to Measured & Indicated (M&I). This is crucial to progress the engineering studies and economic model for the project.
AGR shares were trading at AU$0.075 on 14 June 2022.
