Aurelia Metals Confirms Potential of Peak Deeps

THE DRILL SERGEANT: Aurelia Metals (ASX: AMI) received assay results from drilling carried out on the Peak Deeps system at the company’s Peak gold mine near Cobar in New South Wales.

Aurelia Metals completed the 19-hole resource extension and infill program in the Peak Deeps area in February and assays from the first 12 holes have returned multiple high-grade gold and base metal intercepts.

The company has now received assays for the final seven holes drilled in this program that returned results including:

39 metres at 6.9 grams per tonne gold, 20.3 per cent lead+zinc (Pb+Zn), 32g/t silver and 0.9 per cent copper;

11m at 8.4g/t gold, 4.5 per cent Pb+Zn, 4g/t silver and 0.1 per cent copper;

9m at 0.7g/t gold, 18.7 per cent Pb+Zn, 15g/t silver and 0.1 per cent copper; and

3m at 4.9g/t gold, 7.7 per cent Pb+Zn, 32g/t silver and 1.1 per cent copper.

Aurelia said these latest results highlighted the high-grade potential of the Peak Deeps system, with mineralisation open at depth and along strike.

The company considers the association of strong lead and zinc mineralisation with high-grade gold (as seen in UD19PP1538) further enhances the comparison to the Chronos ores currently being mined.

Following the completion of up-dip extensional drilling at the Chronos lode, Aurelia has now re-commenced underground drilling in the Peak Deeps area.

The company indicated the new program will aim to infill and extend the high-grade mineralisation already identified, comprising 14 holes for 4,200 metres of drilling.

“The first phase of drilling at Peak Deeps is complete with the second phase already underway,” Aurelia Metals managing director and CEO Jim Simpson said in the company’s announcement to the Australian Securities Exchange.

“The company is very excited about the longer term prospects of this orebody and intends to fast track development to access the high-grade and develop more drilling platforms to identify extensions both deeper, laterally and potential up dip.”