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- Aurelia Metals (AMI) encounters “spectacular” gold, zinc, lead and copper grades across its Federation project in New South Wales
- This infill drilling intersected up to 63.6 per cent lead plus zinc, 378 g/t gold and 7.3 per cent copper
- Drilling has wrapped up, with Aurelia’s exploration team now focusing on processing the core, interpreting the results and refining the deposit model
- Further grade control infill drilling and near-mine exploration will be conducted from underground to support the finalisation of a feasibility study
- Aurelia is up 10.19 per cent on the market with shares trading at 30 cents at 1:44 pm AEST
Aurelia Metals (AMI) has encountered “spectacular” gold, zinc, lead and copper grades across its Federation project in New South Wales.
The company said the intersections had been positive, with some of the highest grades intersected to date since drilling began.
One of the best intersections included 20 metres at 26.8 per cent lead plus zinc, 12.5 g/t gold and 0.8 per cent copper including 0.7 metres at 63.6 per cent lead plus zinc, 378 g/t gold, 69 g/t silver and 2.8 per cent copper.
Other results include 19.2 metres at 22.9 per cent lead plus zinc, 3.9 g/t gold and 1.4 per cent copper including one metre at 40.4 per cent lead plus zinc, 25.8 g/t gold and 7.3 per cent copper.
Drilling has wrapped up, with Aurelia’s exploration team now focusing on processing the core, interpreting the results and refining its deposit model. The company said it was planning step-out drilling along the Federation line of lode.
“The Federation drilling has been nothing short of exceptional from the discovery hole to the final hole of the current surface drilling program,” Aurelia Managing Director and CEO Dan Clifford said.
“It has only been three years since discovery and the ultimate extents of the deposit are still unknown. What we do know is that Federation is shaping up as the most significant discovery in the Cobar Basin in decades, and one of the most exciting polymetallic discoveries in Australia in recent years.
“With drill results like these, the underground can’t come on fast enough. Surface works and box cut activities are almost complete to enable development of the exploration decline.”
The company said it would conduct further grade control infill drilling and near mine exploration from underground to support the finalisation of a feasibility study, which will be updated in due course.
Aurelia was up 10.19 per cent on the market with shares trading at 30 cents at 1:44 pm AEST.
