Aurelia Metals Limited (ASX: AMI) has provided a positive update on its exploration drilling above the Chronos lode at the Peak Gold Mine near Cobar in New South Wales.
The company reported that the assay results for the initial 16 holes of the 24-hole underground drill program at Chronos have now been finalised.
Aurelia announced that strong mineralisation was encountered in multiple holes. This includes 24 metres at 29.6% Pb+Zn & 0.4g/t Au, 19 metres at 34.1% Pb+Zn & 0.9g/t Au, 23 metres at 27.3% Pb+Zn & 0.2g/t Au, 25 metres at 21.6% Pb+Zn & 0.7g/t Au, 15 metres at 35.1% Pb+Zn & 2.3g/t Au, and 15 metres at 28.8% Pb+Zn & 4.5g/t Au.
AMI reported that high-grade mineralisation extended more than 100 metres above current resource limits.
The company noted that the upper Chronos area remains open up-dip with further underground drilling planned. The Assay results are currently pending for the remaining eight drill holes.
Peak Gold Mine
Peak Gold Mines operation comprises a group of five underground mines situated near Cobar in New South Wales, producing gold, copper, and silver.
Peak is a series of polymetallic high-grade ore bodies dominated by gold, copper, and zinc, with Gold-rich ore sources in the Southern Corridor and Copper-rich ore sources in the Northern Corridor.
Peak has recently been producing a lead concentrate from the processing of high-grade gold/lead/zinc Chronos ore.
Drill program at Chronos
The Company had recently completed a 24-hole underground drill program at Chronos, aimed at extending the high-grade mineralisation up-dip.
Encouraging results
Aurelia reported that new drilling results were received for 16 holes targeted above the Chronos lode. The company announced that a number of very strongly mineralised intercepts were returned.
Some of the significant intercepts include:
- 24 metres at 29.6% Pb+Zn, 0.4g/t Au & 44g/t Ag;
- 4 metres at 0.6% Pb+Zn, 5.5g/t Au & 4g/t Ag, and 19 metres at 34.1% Pb+Zn, 0.9g/t Au & 48g/t Ag;
- 23 metres at 27.3% Pb+Zn, 0.2g/t Au & 46g/t Ag, including 9 metres at 40.7% Pb+Zn, 0.4g/t Au & 50g/t Ag;
- 25 metres at 21.6% Pb+Zn, 0.7g/t Au & 35g/t Ag, including 8 metres at 39.3% Pb+Zn, 1.8g/t Au & 51g/t Ag;
- 15 metres at 35.1% Pb+Zn, 2.3g/t Au & 82g/t Ag;
- 15 metres at 28.2% Pb+Zn, 4.5g/t Au & 76g/t Ag, including 5 metres at 46.8% Pb+Zn, 12.4g/t Au & 143g/t Ag;
- 16 metres at 33.0% Pb+Zn, 1.9g/t Au & 67g/t Ag; and
- 12 metres at 4.8% Pb+Zn, 7.9g/t Au & 8g/t Ag, and 14 metres at 31.2% Pb+Zn, 0.7g/t Au & 40g/t Ag.
Meanwhile, the assay results for the residual eight drill holes are pending.
Mineralised zone extended
Aurelia said that the latest results extend the known high-grade mineralisation at Chronos to at least the 9700mRL level, more than 100 metres above the current limits of delineated resources and more than 140 metres above the top of the current stoping level (9560mRL).
The company said that the strong base metal mineralisation encountered in this program remains open up-dip.
Future plans
The company said that further underground drilling is planned in the upper Chronos area, with the timing of this drilling linked to the advance of the mine development to higher levels.
CEO statements
Aurelia’s Chairman and Acting CEO, Cobb Johnstone, said: “We are delighted to see the continuation of strong, consistent mineralisation above Chronos, transitioning from high grade gold to high grade base metals. It is particularly pleasing to have extended the mineralised zone approximately 100 metres above the previous limit of known resources, with this high-grade zone remaining open up dip.”