Sydney, Australia (ABN Newswire) -
Aurelia Metals Ltd. (ASX:AMI) ("AMI" or the "Company") is very pleased to provide an update on results from exploration drilling near the Hera gold-lead-zinc deposit, where high grade gold, zinc, lead and silver have been intersected outside of the existing Hera Resource and Reserve.
BONANZA GOLD-LEAD-ZINC-SILVER RESULTS FROM THE HERA NORTH LENS
In July 2014, AMI announced further drilling on the Hera North Lens had intersected visually very strong zinc-lead mineralisation including massive zinc-lead sulphides.
Assay results for these holes have now been received and include broad widths of bonanza gold-lead-zinc-silver grades in hole HRD059W1 as per below:
HRD059W1: 17.1m @ 14.8g/t Au, 168g/t Ag, 15.9% Pb and 15.2% Zn from 387.3m
This intersection includes a zone of intense zinc-lead massive sulphide mineralisation grading:
HRD059W1: 4.7m @ 1.25g/t Au, 209g/t Ag, 1.0% Cu, 17.6% Pb and 33.5% Zn from 387.3m
Results for Hole HRD057, also drilled into the Hera North Lens, approximately 70m above hole HRD059W1, extended the very strong gold-lead-zinc-silver mineralisation, returning:
HRD057: 23.0m @ 2.97g/t Au, 66g/t Ag, 5.3% Pb and 5.8 % Zn from 362m, including
6.0m @ 3.9g/t Au, 130g/t Ag, 8.8% Pb and 7.1% Zn from 362m, and
15.0m @ 2.9g/tAu, 49g/t Ag, 4.6% Pb, 6.0% Pb from 370m
Results from hole HRD056 have extended the strike of the Lens to the south, and confirmed the moderate lead-zinc mineralisation observed, returning:
HRD056: 12m @ 0.2g/t Au, 22g/t Ag, 2.6%Pb and 3.7% Zn from 406m
These high-grade results are of particular significance for the Hera Project because:
- The Hera North mineralisation is outside the existing Hera Resources and Reserves and has capacity to add significant high-grade, gold-lead-zinc-silver rich extensions to the existing Hera mine life.
- The mineralisation appears readily accessible from the existing Hera mine development.
- Recent structural work by the Company's geologists suggest the Hera North Lens is located on the same structure as the Far Wes Lens and there is potential for this mineralization to connect down plunge with the existing Hera Far West Lens Ore Reserves (see long section below), and;
- Interpretation suggests the potential for the discovery of further repeats of high-grade south plunging shoots towards the north and at depth (refer long section below),
NB: Gold assays for these intersections have been generated using the 30g fire assay method. Due to the presence of coarse visible gold in parts of these intersections, the relevant samples will be re-assayed by the screen-fire assay method (SFA), considered a more accurate assay technique for coarse gold mineralisation.
FURTHER HIGH GRADE RESULTS FROM UNDERGROUND EXPLORATION HOLES
Hera underground exploration drill holes, drilled at the southern end of the Hera deposit, have returned further high-grade results from the Hays structure. The results are recorded outside of, or on the margins of, the exiting Hera Reserve, and continue to re-enforce the view that there is potential for high-grade additions to the existing Reserves.
Highlight results include:
HRUD095: 18.1m @ 3.6g/t Au, 0.5% Pb and 0.4% Zn from 121m
8.8m @ 6.80g/t Au, 1.4% Pb and 1.5% Zn from 188.2m, and
HRUD096: 9.0m @ 32.6g/t Au, 1.3% Pb and 2.3% Zn from 195m, including
1.0m @ 259g/t Au, 1.5% Pb and 2.5% Zn from 186m
HRUD096: 5.7m @ 1.25g/t Au, 25g/t Ag, 7.2%Pb and 4.6% and from 141.8m
HRUD098: 2.1m @ 0.38g/t Au, 34g/t Ag, 10.4% Pb and 6.7% Zn from 147.6m
Underground drilling has re-commenced in this area to provide for additional certainty for re-estimation of Reserves and to assist near-term mine planning. Recent UG mine development has progressed to within 50m of these recently reported drilling results.
Aurelia's Managing Director, Rimas Kairaitis, commented:
"The intensity and widths of the gold-lead-zinc-silver mineralisation represented by hole HRD059W1 at Hera North are unprecedented within the Hera mineral system. The immediate implications are not just for near-term mine life extensions but for the significant potential for the discovery of further high grade mineralisation and the potential for structural repetitions of this zone to the north. It is very pleasing to be identifying multiple areas with strong potential to deliver mine life extensions at Hera so soon into the development of the Hera Project"
ABOUT THE HERA-NYMAGEE PROJECT
The Hera-Nymagee Project represents Aurelia's flagship Project and consists of the Hera gold-base metal deposit (Aurelia 100%) and the Nymagee copper deposit (Aurelia 95%), and is located approximately 100km south-east of Cobar, in central NSW. The deposits are hosted in the Cobar Basin, which also host the major mineral deposits at CSA (Cu-Ag), The Peak (Cu-Au) and Endeavor (Cu-Pb-Zn-Ag).
Aurelia is now in final plant commissioning stages of the Hera project with first production due in the September quarter 2014.
Aurelia Metals completed the Definitive Feasibility Study ('DFS") on the Hera Gold Project in June 2011, which confirmed the technical and financial viability of the development of the Hera deposit as a shallow underground mine and processing plant producing gold and silver doré bars and a bulk lead-zinc concentrate for sale. Aurelia subsequently received Project Approval from the NSW State Government in August 2012 and shareholder approval for a major funding transaction with Glencore in March 2013.
The Company is also currently evaluating the Nymagee copper deposit, located 4.5km to the north, with a view to demonstrating an integrated development of the Hera and Nymagee deposits.
Aurelia maintains a commitment to the ongoing exploration of the Hera-Nymagee Project and considers both deposits have the potential to evolve into very large "Cobar style' mineral systems.
To view diagrams and charts, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-AMI-690375.pdf
About Aurelia Metals Ltd:
Aurelia Metals Ltd. (ASX:AMI) is focused on the development and exploration of the high grade Hera-Nymagee Project in the Cobar district of NSW.
Aurelia is actively drilling the evolving copper deposit at Nymagee with the potential that the Nymagee mineralisation may evolve into another 'Cobar Giant' similar to the world class CSA copper deposit located approximately 100km north-west along strike.
Aurelia also remains active in the exploration for copper, gold and tin on a number of tenements in the Lachlan Fold Belt of NSW.
Contact:
Aurelia Metals Ltd.
T: +61-2-6363-5200
F: +61-2-6361-4711
E: office@aureliametals.com
www.aureliametals.com
