- Aurelia Metals (AMI) has intersected copper-gold mineralisation below the current mineral resource for the Great Cobar deposit in NSW
- AMI says the mineralisation was found 100 metres below the existing mineral resource and continues 700 metres down plunge while remaining open
- Best results include 15 metres at 3.7 per cent copper and 0.2 grams per tonne gold (g/t), including 7 metres at 6.3 per cent copper and 0.2g/t gold
- AMI also found lead-zinc-silver mineralisation above the current resource and says all of the drilling at the deposit will contribute to the ore reserve update
- Company shares are trading up 2.67 per cent at 38.5 cents each
Aurelia Metals (AMI) has intersected copper-gold mineralisation below the current mineral resource for the Great Cobar deposit.
The Great Cobar deposit sits around 1.5 kilometres northwest of AMI’s New Cobar operations in Cobar, New South Wales.
AMI said in an update on Monday that recent drilling at AMI had located copper-gold about 100 metres below the existing mineral resource.
The company was pleased to report the mineralisation extends up to 700 metres down plunge while remaining open in both directions.
Best results include 15 metres at 3.7 per cent copper and 0.2 grams per tonne gold (g/t), including seven metres at 6.3 per cent copper and 0.2g/t gold.
Along with the down-plunge drilling, AMI said up-dip extensional drilling intersected copper-gold and lead-zinc-silver mineralisation up to 200 metres above the resource.
Best results include 15 metres at 3.3 per cent copper, 0.7g/t gold and 24g/t silver from 378 metres, including 5 metres at 4.9 per cent copper, 0.7g/t gold and 41g/t silver from 388 metres.
Additionally, AMI intercepted 6 metres at 25.2 per cent lead and zinc, 0.1g/t gold and 137g/t silver from 393 metres.
The company will now carry out additional drilling to test further high grade extensions to the deposit, with the work expected to commence next quarter.
AMI said its planning to use these latest drilling results, and previous infill drilling results, to update Great Cobar’s mineral resource estimate (MRE).
Aurelia explained the MRE will be updated as a part of the company’s annual mineral resource and ore reserve statement.
Additionally, an upcoming pre-feasibility study on Great Cobar will allow the company to declare its maiden ore reserve.
Shares in Aurelia Metals were trading 2.67 per cent in the green at 38.5 cents per share at 10:57 am AEST.