- Aurelia Metals (AMI) records its best base metal intercepts to date at its Federation deposit, located near the Hera Mine in New South Wales
- The company is currently undertaking resource and extensional drilling at the deposit
- These new intercepts extend high-grade mineralisation significantly beyond the current resource envelope to the southwest and at depth
- The current drilling program at Federation will feed into an upcoming feasibility study, which is expected to be completed mid- 2022
- On the market, Aurelia is up 1.28 per cent and is trading at 39.5 cents per share
Aurelia Metals (AMI) has recorded its best base metal intercepts to date at its Federation deposit, located near the Hera Mine.
The company is currently undertaking resource and extensional drilling at the deposit, which currently has an indicated and inferred resource totalling 3.5 million tonnes at 5.5 per cent lead, 9.8 per cent zinc, 1.4g/t gold, 7g/t silver and 0.3 per cent copper.
Significant new intercepts from this drilling include 70 metres at 18.4 per cent lead and zinc, 0.2g/t gold and 0.5 per cent copper, including 17.8 metres at 45.6 per cent lead and zinc, 0.3g/t gold and 1.1 per cent copper.
These new intercepts extend high-grade mineralisation significantly beyond the current resource envelope to the southwest and at depth.
The current drilling program at Federation is part of the feasibility study, which is expected to be completed mid- 2022.
Additionally, Aurelia has also commenced technical studies and government and community consultation activities, which is part of the environmental impact assessment.
“Aurelia is now undertaking an accelerated drilling program to upgrade Resource confidence from inferred to indicated status, with up to four diamond drill rigs operating at the site,” the company said.
“This program is expected to underpin the maiden ore reserve estimate for Federation to correspond with the completion of the feasibility study in mid-2022.”
On the market, Aurelia is up 1.28 per cent and is trading at 39.5 cents per share at 11:20 am AEST.