Source: Aurelia Metals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Aurelia Metals (AMI) finds new copper results at Great Cobar deposit located to the north of the Peak Mine in Cobar, New South Wales
  • The company recommenced drilling at Great Cobar in August to further test the deposit, with the first two follow-up holes returning very strong copper mineralisation
  • Aurelia is expecting to complete the pre-feasibility Study (PFS) for Great Cobar expected in the December quarter of this year
  • Aurelia is up 4.92 per cent and is trading at 32 cents per share at 11:10 am AEDT

Aurelia Metals (AMI) has found new copper results at Great Cobar deposit located to the north of the Peak Mine in Cobar, New South Wales.

Earlier this year, the company recorded that multiple high grade copper-gold mineralisation had been intercepted up to 100 metres below the Great Cobar mineral resource envelope.

Aurelia recommenced drilling at Great Cobar in August to further test the potential of this zone, with the first two follow-up holes returning very strong copper mineralisation.

Results include 13 metres at 5.4 per cent copper and 0.6 grams per tonne (g/t) of gold. This included 4.7 metres at 10.8 per cent copper and 1.2g/t gold; and 37 metres at 2.6 per cent copper and 0.2g/t gold, including 12 metres at 4.2 per cent copper and 0.3g/t gold.

The Great Cobar deposit remains open at depth with extensional drilling continuing.

The company is expecting to complete the pre-feasibility Study (PFS) for Great Cobar expected in the December quarter of this year.

Aurelia Metals’ Managing Director and CEO Dan Clifford commented on the results.

“Our investment in exploration continues to return outstanding results providing further upside to the Great Cobar Project. With a tremendous asset in our own backyard, we are copper ready and excited to see significant value within our grasp,” he said.

“We expect today’s results together with future exploration to significantly grow
resources and reserves beyond the PFS. With copper prices providing a natural hedge to gold, we are delivering on our strategy to capitalise on a cycle-proof commodity mix that maximises returns to our shareholders.”

Aurelia was up 4.92 per cent, trading at 32 cents per share at 11:10 am AEDT.

AMI by the numbers
More From The Market Herald

" EQ Resources (ASX:EQR) wraps up drilling at Mt Carbine

EQ Resources (ASX:EQR) has completed the phase one drilling program at the Mt Carbine Tungsten Mine…

" Sunshine Gold (ASX:SHN) grows rare earths scale at Elphinstone Creek

Sunshine Gold (ASX:SHN) grows the scale of neodymium and praseodymium rare earths.

" Image Resources (ASX:IMA) updates resource estimates at McCalls

Image Resources (ASX:IMA) has provided an update to the mineral resource estimate (MRE) of its recently…

" Kogi Iron (ASX:KFE) closes underwhelming share purchase plan

Kogi Iron (ASX:KFE) has closed its share purchase plan, raising $234,000 to fund upcoming work at…