Join our daily newsletter At The Bell to receive exclusive market insights
- Avenira (AVE) has identified two potential gold trends at the Jundee South Gold Project in Western Australia
- During the second half of last year, Anenira undertook its maiden drilling program to test priority targets identified via the assessment of historical data
- Drilling wrapped-up in mid-December after 259 aircore holes were drilled
- Of the two targets, grades peaked at 5.22g/t gold and AEV will be undertaking follow-up reverse circulation drilling
- Drilling may also be undertaken on two additional targets where up to 0.13g/t gold was intersected
- Shares in Avenira are down 8.33 per cent and trading at 1.1 cents
Avenira (AVE) has identified two potential gold trends at the Jundee South Gold Project in Western Australia.
Jundee South spans an area of 720 square kilometres across the Yandal Greenstone Belt.
During the second half of last year, Avenira undertook its maiden drilling program at the project to test priority targets identified via the assessment of historical data.
Drilling wrapped-up in mid-December after 259 aircore holes, for 20,147 metres, were drilled.
Target MF02
At target MF02, an intercept of seven metres at 1.36g/t gold including one metre at 5.22g/t gold was returned.
This intercept is associated with quartz-veined volcanic rocks, it remains open at depth, and has a potential strike length of more than 720 metres.
As a result, this target will be followed-up with reverse circulation (RC) testing.
Target YaN11
Target YaN11 returned a best intercept of one metre at 0.78g/t gold from 104 metres with quartz veining.
As the geology of the area is complex, RC drilling will be undertaken to follow-up resampling.
“Avenira intends to undertake follow-up RC drilling of the two major gold trends identified in the aircore drilling program in H2, 2020 with planning already underway and commencement of the RC program in Q2, 2021,” Executive Chairman Brett Clark stated.
Avenira may also undertake follow-up RC drilling on targets SH04 and cyplWR584, which returned up to 0.13g/t gold and 0.10g/t gold, respectively.
Shares in Avenira are down 8.33 per cent and are trading at 1.1 cents at 3:08 pm AEDT.
