Blue Bell keeps ringing for AusAmerican Mining

THE DRILL SERGEANT: Drilling being conducted by Australian-American Mining Corporation (ASX: AIW) at the company’s Blue Bell project in Arizona is continuing to deliver good news in the form of further copper-gold-silver massive sulphide intersections.

Latest results from drilling at Blue Bell have included:

–     9 metres at 0.9 per cent Copper Equivalent (0.8 per cent copper, 0.1 grams per tonne gold and 5.3 grams per tonne silver) from 195 metres;
 
–     2m at 1 per cent Copper Equivalent (0.7 per cent copper, 0.2g/t gold and 10.3g/t silver) from 208m; and
 
–    11m at 0.6 per cent Copper Equivalent (0.4 per cent copper, 0.1g/t gold and 6.0g/t silver) from 179m.

Mineralisation open at depth and along strike.

 

Blue Bell drilling cross section. Source: Company announcement

 

AusAmerican is of the opinion the latest holes demonstrate VMS mineralisation at Blue Bell has continuity from the surface to 300m below ground level.

The company has now received assays for nine completed drill holes, eight of which have demonstrated extensive mineralisation.

 “It is very pleasing to see that the mineralisation is present from the surface to depths of at least 300 metres, which gives the company confidence in its view that the project has the potential to be mined by open pit methods,” AusAmerican managing director Richard Holmes said in the company’s announcement to the Australian Securities Exchange.

AusAmerican indicated it anticipates finishing the current drilling program by the end of March/ early April.

It is expecting to receive further assay results within the next two weeks.