New Breccia Zone Discovered At Chile Project
Austral Gold Limited (ASX: AGD; TSXV: AGLD) has received high-grade assay results for the first 15 drill holes reflecting 4,806m at its Amancaya mine in Chile
Highlights from reported assays:
* 1.35m @14.65 g/t gold and 50.60 g/t silver including 42.43 g/t gold and 124 g/t silver over 0.44m;
* 2.07m @12.13 g/t gold and 57.50 g/t silver including 21.01 g/t gold and 142.8 g/t silver over 0.88m;
* 2.53m @12.18 g/t gold and 8.50 g/t silver in the Central Vein and 30m at 4.04 g/t gold and 7.50 g/t silver including 4.14m @23.50 g/t gold and 29.30 g/t silver in a newly discovered mineralised breccia zone at depth
* 0.40m@41.89 g/t gold and 7.50 g/t silver
The drilling programme commenced in the fourth quarter of 2020 in order to extend resources and reserves at the Amancaya mine at depth. Previous exploration was not successful in intercepting the veins at depth when drilling was performed from east to west. Austral mapped out the contact between two breccia zones at the location of the veins and observed a steepening of this contact zone.
Consequently, drilling was undertaken from west to east, and intersected the vein with similar widths and tenor that is currently being mined 50m to 100m under previous intersections. See attached longitudinal sections.
CEO, Stabro Kasaneva, said that in addition, drill hole DAM-008 successfully extended the eastern edge of the Amancaya diatreme as a major mineralisation control, intercepting 30m @ 4.04 gpt Au which contains high- grade veins and hydrothermal injection breccias. This zone also included a high-grade intersection on the hanging wall of 4.1m of 23.5 g/t Au and 29 g/t Ag.
“I am delighted with the success of the exploration team – they discovered a new wide zone of hydrothermal breccia that could transform the production profile at the Amancaya mine and are on the right track to extend the mine life of this low cost operation,” Mr Kasaneva said.
