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    • Delayed Prices (USD) - Last Updated 01-07-2022
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    Aurelia Metals extends Federation deposit with ‘best ever’ gold and base metal hits

    Aurelia Metals (ASX: AMI) has reported its ‘best’ set of results to date from ongoing infill and extensional drilling at the Federation deposit located 10km south of the company’s operating Hera Mine near Cobar, NSW.

    Significant new results include:

    • Hole FDD164W2: 18.2m @ 34.4% Pb+Zn and 13.1g/t Au; including
      • 5.0m @ 62.7% Pb+Zn and 47.2g/t Au
    • Hole FDD161W1: 57.0m @ 23.7% Pb+Zn and 0.1g/t Au; including
      • 11.9m @ 47.9% Pb+Zn and 0.2g/t Au
    • Hole FDD156: 29.9m @ 24.2% Pb+Zn and 3.9g/t Au; including
      • 3.0m @ 1.9% Pb+Zn and 23.4g/t Au
      • 13.3m @ 47.4% Pb+Zn and 1.8g/t Au
    • Hole FDD159: 18.6m @ 48.1% Pb+Zn and 1.3g/t Au; including
      • 10.0m @ 61.6% Pb+Zn and 0.8g/t Au
    • Hole FDD158W1: 25.1m @ 21.8% Pb+Zn and 0.1g/t Au; including
      • 8.0m @ 51.4% Pb+Zn and 0.2g/t Au
    • Hole FDD162: 13.0m @ 15.9% Pb+Zn and 4.9g/t Au; including
      • 5.0m @ 28.0% Pb+Zn and 11.0g/t Au

    The company noted that the results extend high grade mineralisation up-dip and along strike in the southwestern and central portions of the deposit. These mineralised extensions are immediately adjacent to the scoping study design and will be incorporated into the planned Federation Project Feasibility Study.

    the expanded mineralised envelope and high grade tenor of these new results are expected to provide a material value uplift from the March 2021 Scoping Study”

    Commenting on the update, Aurelia Metals Managing Director and CEO Dan Clifford said: “These latest drill intercepts and assay results provide further compelling support for a new mine development that will deliver organic growth at our Hera-Federation complex. With the current Feasibility Study due in mid 2022, the expanded mineralised envelope and high grade tenor of these new results are expected to provide a material value uplift from the March 2021 Scoping Study.”

    Identified by Aurelia in 2019, Federation is considered to be one of the most ‘significant’ discoveries in the region over the past 30 years, housing a current indicated and inferred mineral resource of 5.1Mt @ 5.5% Pb, 9.3% Zn, 0.9g/t Au, 7g/t Ag and 0.3% Cu.

    The company had earlier released new results displaying ‘high grade’ gold and base metal mineralisation extending up-dip and along strike in the central and southwestern portions of the Federation deposit. Significant results included 23m @ 6.8% Pb+Zn and 9.7g/t Au in hole FDD150W2 along with 14.1m @ 34.4% Pb+Zn and 1.8g/t Au in hole FDD141. The report had also highlighted the occurrence of coarse-grained visible gold in hole FDD156.

    Mineralisation remains open and/or sparsely drilled along strike, and will be the focus of ongoing work in the coming quarter.

    Schematic long section of the Federation deposit displaying recent highlight intercepts against the March 2021 Scoping Study mining area
    Schematic long section of the Federation deposit displaying recent highlight intercepts against the March 2021 Scoping Study mining area. Image: Images: Aurelia Metals Limited

    These new holes also delineated zones of ‘very high base metal grades’, with lead-zinc assay results from holes FDD164W2 and FDD159 exceeding the combined lead-zinc grade of the bulk concentrate produced at the nearby Hera Mine.

    Moving forward, Aurelia reports that the upcoming feasibility study is progressing as planned, supported by current drilling which is expected to continue through until the end of January.

    Subsequent drill results from February onwards will be used for a further upgrade and extension of Federation’s mineral resource estimate, along with a maiden ore reserve and production target due in mid-2022.

    Jonathan Norris
    Jonathan is a founder of Mining.com.au and has been covering the resources industry since 2018. With over 17 years experience in print, broadcast and online media, Jonathan has seen first hand the transformative effect of online niche media.

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    • Delayed Prices (USD) - Last Updated 01-07-2022
    • Gold $1,819.00
    • Silver $20.75
    • Platinum $916.00
    • Palladium $1,898.00
    • Dalian Iron Ore i2209 $121.63
    • Aluminium $2,491.00
    • Cobalt $72,460.00
    • Copper $8,365.50
    • Lead $1,971.00
    • Nickel $23,158.00
    • Tin $26,800.00
    • Zinc $3,333.00