Aeon Metals (ASX: AML) has announced an updated Mineral Resource Estimate for its Walford Creek Project near Mt Isa after incorporating 2021 drilling data from the project’s Vardy & Marley prospects.
The inclusion of this finalised metallurgical and geotechnical drill data confirms the ‘robustness’ of the previous estimates, and increases overall classification confidence with the new combined Vardy/Marley MRE delivering:
- Copper Mineralisation: 20.1 Mt @ 1.08% Cu, 0.15% Co, 0.75% Zn, 31g/t Ag, 1.03% Pb and 0.06% Ni
- Cobalt Peripheral Mineralisation: 19.2 Mt @ 0.25% Cu, 0.10% Co, 1.11% Zn, 21g/t Ag, 0.95% Pb and 0.04% Ni
The updated MRE now contains 39.3 Mt extending over a strike length of 3.6km. Importantly, 97% of the resource is classified as measured and indicated.
Addressing the update, Aeon Metals Managing Director and CEO Dr Fred Hess said: “Aeon is delighted to provide updated Mineral Resource estimates for the Vardy and Marley deposits following the finalisation of the 2021 drilling results. The results demonstrate the robust nature of the deposit with in-fill drilling providing an increase and upgrade to the existing resource base.
Now having a Mineral Resource with almost 97% defined within the Measured and Indicated categories provides an outstanding foundation for the preparation of robust mine schedules and the development of the more detailed project PFS economic evaluation.
“a Mineral Resource with almost 97% defined within the Measured and Indicated categories provides an outstanding foundation for the preparation of robust mine schedules”
The proposed 2022 drilling program delivers strong potential to yield further significant mineral resources updates towards year end. The almost six kilometres of strike length in the Le Mans and Amy sections, adjacent to the Fish River fault, already host a modest Inferred Mineral Resource estimate that is limited only by drilling. In addition, the impending acquisition of high resolution airborne electro-magnetic data will complement the existing high resolution magnetic and gravity data set to further refine our targeting of the previously identified new areas for drill testing. Our 2022 exploration program is designed to provide a defining step in the exceptional New Economy Minerals district emerging in North-West Queensland.”
The company also notes that no additional drilling has yet been completed at the Amy Zone, with the prospect’s MRE still sitting at 5.1 Mt @ 1.25% Cu, 0.15% Co, 37g/t Ag, 1.35% Pb, 0.63% Zn and 0.08% Ni.
Map displaying 2021 drilling against existing mineral resources at Walford CreekThe Walford Creek Project is located approximately 350km northwest of Mount Isa, Queensland with 100% of the tenements being owned by Aeon Metals.
Following this recent MRE update, Aeon reports that it will move forward with its drilling and exploration program across strike extensions and new target areas at Walford Creek, with commencement to take place in 2022 after all plans are finalised.
Images: Aeon Metals Ltd
