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Aguia Resources Ltd.
Summary
| Project: | Primavera | |
|---|---|---|
| Deposit: | Andrade | |
| Location: | Brazil | |
| Commodities: | Copper-Silver | |
| Date: | 3/18/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-3-2019: Aguia Resources Ltd. announces a Resource Estimation report for its Andrade deposit at the Primavera project. Initial Resource announced for the project. TORONTO, March 18, 2019 (GLOBE NEWSWIRE) -- Brazilian mineral resource developer Aguia Res | |
| Resources: | (Resource, Ind.): 10.807Mt @ 0.56% Cu, 2.56g/t Ag with 132.488Mlb Cu and 0.891Moz Ag contained | |
| CP/QP: | [Resources]: John Makin (Roscoe Postle Associates Inc.) | |
| ABSTRACT: | TORONTO, March 18, 2019 (GLOBE NEWSWIRE) -- Brazilian mineral resource developer Aguia Resources Limited (ASX: AGR, TSXV: AGRL) (“Aguia” or the “Company”) is pleased to report the maiden resource for the recently acquired Andrade copper deposit, part of the Primavera Project, in Rio Grande do Sul, Brazil. The entire dataset was subject to independent review and audit by Toronto based firm Roscoe Postle Associates Inc. (RPA) which has signed off on the new resource statement for the project (the “Mineral Resource Statement”). The resource estimate meets the criteria required to be compliant with both JORC and CIM standards. The Mineral Resource Statement is based on the results of 38 historical diamond drill holes drilled by Referencial Geologia Ltda. (Referencial) between 2009 and 2010 that were compiled and integrated into the database together with a drilling campaign carried out by Aguia in January and February 2019 as part of the due diligence the Company undertook before signing the option to acquire the Primavera Project from Referencial (see ASX release 28 February 2019). During this period, Aguia completed three drill holes (382 m). The primary goal of this drilling campaign was to confirm the presence of significant copper intersections that would suggest economic potential. The drilling campaign was successful as assay results from all three drill holes returned thick and high-grade zones of copper mineralisation, which has provided the data needed for a maiden resource that is JORC and CIM (as incorporated in NI 43-101) compliant. The Mineral Resource Statement includes an open pit-constrained Inferred Resource of 1.3 million tonnes of oxidized material, from surface, grading 0.43% copper and 8.8 million tonnes of sulphide-bearing material grading 0.51% copper, and an additional 675 thousand tonnes of sulfide-bearing material, amenable for underground mining, grading 1.42% copper. | |
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