Aguia Resources Limited (ASX: AGR) has confirmed strong assay results from our diamond drilling programme at Aguia’s Copper Project in the Rio Grande Copper Belt in Brazil.
The objective of the initial phase of the drilling programme (which was to infill the drilling grid of the existing mineral resource) was successfully completed.
The drilling programme concentrated on the shallow and high-grade portions of Aguia’s copper mineral deposit. Previous holes in that portion returned significant high-grade mineralisation, including our then-best intercepts of 38.20m grading 1.42% copper from 76m.
The company has now received further assays of high-grade copper zones, confirming Aguia’s existing Copper Mineral Resource model:
• Hole AND-22-026 returned 14m @ 1.20% Cu & 16.69 g/t Ag (from 111m).
• Hole AND-22-022 returned 9.70m @ 0.91% Cu & 4.43 g/t Ag (from 50.70m),
including 4.05m @ 1.44% Cu and 3.56 g/t Ag (from 52.35m).
• Hole AND-22-027 returned 14m @ 0.78% Cu and 9.35 g/t Ag (from 72m), including
6m @ 1.34% Cu and 13.62 g/t Ag (from 75m).
The company has now completed the entire infill drilling programme, comprising 25 drill holes totalling 2,646m. Aguia’s Copper Project can now proceed to a Preliminary Feasibility Study.
Also, on the copper front, we are proud to inform you that our Cathode Green Copper Project is in the final stages of approval for an A$600,000 research and development grant from the Federal Research Fund – FINEP. We will keep our shareholders informed of further developments.
“We are pleased to announce additional high-grade copper intercepts from our infill drilling program at Andrade,” Managing Director Dr Fernando Tallarico said.
“These results confirm the current resource model and will allow a revision of the mineral resource model, which we will announce to the market upon completion. We are also progressing with additional bio-leaching metallurgical test work, which, together with the upcoming resource update, will form the basis of a Pre-Feasibility Study. This will allow a revised economic assessment and more refined engineering, opening the way for the permitting process to commence next year.”
For further information please visit: https://aguiaresources.com.au/
