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- Aguia Resources (AGR) receives the first results from a 2000-metre diamond drilling program at the Andrade copper project in Brazil
- The aim of this drilling is to improve the existing resource category of Andrade to measured and indicated which is required to advance the engineering studies
- Aguia is focusing on the shallow and high-grade orebodies where previous drilling intersected up to 2.55 per cent copper
- To date, 11 holes have been drilled with grades peaking at 2.84 per cent copper and 6.14 grams per tonne (g/t) silver
- Aguia ends the day 18 per cent in the green with shares trading at 7.2 cents
Aguia Resources (AGR) has received the first results from a 2000-metre diamond drilling program at the Andrade copper project in Brazil.
The aim of this drilling is to improve the existing resource category of Andrade to measured and indicated which is required to advance the engineering studies and economic model of the project.
Aguia is focusing on the shallow and high-grade orebodies where previous drilling intersected up to 2.55 per cent copper.
To date, 11 holes, for 970 metres, have been drilled with work expected to continue for the next six months.
Results include 19 metres at 1.95 per cent copper and 5.64 grams per tonne (g/t) silver from 53 metres, including six metres at 2.84 per cent copper from 65 metres and 14 metres at 0.78 per cent copper and 6.14 g/t silver from 46 metres.
“Importantly, these initial results confirm the existence of high-grade mineralisation in the shallow zone of the deposit,” Managing Director Dr Fernando Tallarico said.
“The progression of the drill program also continues to validate our project model, with intercepts confirmed in the modelled high and low-grade zones.
“As we improve the confidence of the resource, we look forward to presenting a more refined economic assessment of the Andrade project.”
Aguia has ended the day 18 per cent in the green with shares trading at 7.2 cents.
