THE DRILL SERGEANT: Aurelia Metals (ASX: AMI) declared discovery of a new polymetallic mineral system at the Federation prospect, 10 kilometres south-southwest of the Hera Mine near Cobar in New South Wales.
Aurelia Metals explained the prospect is situated in the southern portion of its 100 per cent-owned Exploration Lease 6162.
In October last year Aurelia announced the discovery of near-surface polymetallic mineralisation at Dominion, located approximately one kilometre southeast of the Federation prospect, producing intercepts that were predominantly oxide or supergene in nature, including: 97 metres at 1 per cent copper and 2.4 per cent lead and zinc (Pb+Zn) in hole DRC017.
Aurelia said base metal sulphide mineralisation (zinc-lead-copper-gold-silver) had been discovered at the Federation prospect that is open in multiple directions with follow up diamond and RC drilling planned at depth and along strike.
Intercepts at Federation to date include:
5m at 22.6 per cent Pb+Zn and 3.07 grams per tonne gold;
6m at 21.1 per cent Pb+Zn and 0.33g/t gold;
6m at 16.9 per cent Pb+Zn and 0.62g/t gold;
4m at 23.4 per cent Pb+Zn and 0.28g/t gold; and
4m at 11.4 per cent Pb+Zn and 0.08g/t gold.
Shallow drilling at the nearby Dominion prospect returned the first notable sulphide copper intercepts, including:
5m at 2.8 per cent copper and 8g/t silver; and
5m at 2.2 per cent copper and 5g/t silver.
“The drilling at Federation is very encouraging, especially with assays showing the presence of gold mineralisation,” Aurelia Metals executive chairman & CEO, Cobb Johnstone said in the company’s announcement to the Australian Securities Exchange.
“Drilling at Dominion has unveiled primary copper mineralisation at relatively shallow depths.
“These results provide more evidence of the prospective nature of this region.
“Immediate follow-up is planned on a number of identified targets.”