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Spitfire Materials Ltd.
Summary
| Project: | Aphrodite | |
|---|---|---|
| Deposit: | Aphrodite | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/29/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 29-5-2018: Spitfire Materials Ltd. announces an Exploration/Drilling Update report for its Aphrodite deposit at the Aphrodite project. Drilling results incl. 9.6m @ 6.28g/t Au from 139.4m. Spitfire Materials Limited (ASX: SPI) is pleased to advise that a | |
| Resources: | (Resource, I+I): 13.1Mt @ 3.0g/t Au for 1261Koz Au contained at Aphrodite | |
| CP/QP: | [Overall Report]: John Young (Internal) | |
| ABSTRACT: | Spitfire Materials Limited (ASX: SPI) is pleased to advise that a new 6,000m extensional diamond drilling program is underway at its flagship 100%-owned 1.26Moz Aphrodite Gold Project, located 65km north of Kalgoorlie in the Eastern Goldfields of WA (see Figure 7), as the latest assay results confirm the quality and consistency of the two key high-grade underground lodes. Further highly encouraging results have been received from the most recent round of drilling, confirming the quality and consistency of the mineralisation within the Underground Inferred Resource of 1.4Mt at 7.5g/t for 332,000oz (see ASX release dated 25 January 2018). The results further support the Company’s objective of upgrading this Inferred Resource as the cornerstone of its development studies. Spitfire’s Managing Director, Mr John Young, said: “Since acquiring the Aphrodite Project last year through our merger with Aphrodite Gold, we have made substantial progress across many fronts. The work completed to date has confirmed that Aphrodite is a quality gold asset with the scale, grade and growth potential to become the cornerstone of a long-term gold operation for Spitfire in the Kalgoorlie region. “The successful deep drilling program completed recently has confirmed the consistency and quality of the deposit, while helping to establish a new Exploration Target in the Phi and Alpha lodes which is now being tested by a new phase of drilling currently underway.” The latest assay results received from the next seven holes have confirmed the continuity of the lower section of the Alpha lode over 300m, with highlights including 9.6m @ 6.28g/t Au from 139.4m including 1.9m @ 19.31g/t from 145.9m (18APD010), 6m @ 7.09g/t Au from 526m (18APD004) and 1m @ 8.16g/t Au from 170m (18APD009) (See Table 2 for full results). Assays from the remaining two holes are expected over the next few weeks. | |
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