Aurelia Metals increases Hera Resource Estimate

THE DRILL SERGEANT: Aurelia Metals (ASX: AMI) has reported an upgrade to the Mineral Resource Estimate at the company’s 100 per cent-owned Hera gold-lead-zinc project in central New South Wales.

The JORC Code 2012-compliant Mineral Resource estimate has come in at:

3.2 million tonnes at 3.75 grams per tonne gold, 33.4g/t silver, 3.5 per cent lead and 4.6 per cent zinc.

Aurelia said it was happy to report that a healthy portion of the Resource (25 per cent) is now in the higher confidence Measured category for the first time, with 65 per cent of the Resource sitting in Measured and Indicated categories combined.

The company has interpreted the growth in the Resource to over 3.2 million tonnes to imply an extension of mine life of approximately two years can be expected.

However, the company was careful to point out it will need to complete further work to report an updated Reserves estimate before mine life extension can be confirmed, including additional permitting that may be required.

Despite this the company declared it is confident of continuing to grow the resource over time as exploration continues given the project remains open to both the north and south.

“We are very pleased to be reporting a substantially upgraded Hera Resource Estimate, which demonstrates the ability for the initial mine life to be expanded as exploration success continues,” Aurelia Metals managing director Rimas Kairaitis said in the company’s announcement to the Australian Securities Exchange.

“This Estimate represents the excellent work by the company’s geology team and lays the foundation for a significant increase in the Hera mine life.

“We remain optimistic about the potential for further extensions as exploration continues.”

Email: office@aureliametals.com

Website: www.aureliametals.com