- Gold and base metals miner Aurelia Metals (AMI) has reported new high-grade drill intercepts at three prospects
- The Kairos prospect sits beneath current workings at the Peak Mine and has delivered exceptional gold and base metal intercepts.
- The Peak North prospect, located 150 metres along strike from the main Peak deposit, is also showing some significant gold mineralisation
- The Federation prospect, 10 kilometres south of the Hera Mine, is also showing high-grade base metal mineralisation and remains open at depth
- Aurelia will continue infill and extension drilling at the Peak prospects, and will soon release a maiden mineral resource estimate for Federation
- Aurelia Metals’ shares closed 2.27 per cent in the green to trade for 45 cents each
Gold and base metals miner Aurelia Metals (AMI) has reported new high-grade drill intercepts at three prospects.
Peak Mine
Two prospects are showing considerable promise at Peak, with multiple high-grade gold intercepts and some significant base metal results.
The Kairos prospect sits underneath the current Peak Mine workings.
Aurelia had already located several zones of high-grade gold at Kairos, with the new infill drilling aimed at confirming grade distribution and providing material for metallurgical work.
The recent program certainly seems to have met its stated aims.
One highlight of the drilling includes an intercept of 23 metres at 28.4 grams per tonne (g/t) gold, 31.0 per cent lead and zinc, 70g/t silver & 0.4 per cent copper, including six metres at 105.2g/t gold, 34.2 per cent lead and zinc, 32g/t silver and 0.9 per cent copper.
Positive assays were received from all eleven holes at Kairos, with several offering similar high-grade results.
The Kairos area is currently only sparsely drilled and remains open at depth. Aurelia plans further significant programs of exploration and infill drilling once access to the deposit is better established.
The Peak North prospect is also showing some significant gold mineralisation.
The prospect lies 150 metres along strike from the Peak workings. While the mineralised zone is smaller and less base metal-rich than Kairos, the high-grade gold intercepts from the recent drilling have provided enough impetus to further explore extensions to the main zone.
Hera Mine
The recently-discovered Federation prospect is located ten kilometres south of the Hera Mine, and hosts a large-scale base metals and gold system.
The most recent drilling focused on deeper parts of the mineralised zone, and returned very encouraging high-grade base metal results.
One intercept of 22 metres at 37.6 per cent lead and zinc, 0.2g/t gold, 14g/t silver and 0.2 per cent copper is particularly noteworthy, as it extends the known mineralisation to nearly 500 metres below surface.
More drilling is being planned to further test the zone at depth. A current program of diamond drilling is ongoing, with a maiden mineral resource estimate for Federation expected in coming weeks.
Several studies including environmental and metallurgical work are being planned to evaluate the prospect’s viability.
Next steps
Aurelia will continue infill and extension drilling at the Peak prospects to define the size and grade of the mineralised systems.
The company also seems keen to get things moving at Federation, with key planning elements of a pre-feasibility study already underway ahead of the announcement of the maiden resource estimate.
Aurelia seems well on track to expand its resource base with the promising potential across its exploration portfolio.
Aurelia Metals’ shares closed 2.27 per cent in the green to trade for 45 cents each.