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Spitfire Materials Ltd.
Summary
| Project: | Aphrodite | |
|---|---|---|
| Deposit: | Aphrodite | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/3/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 3-7-2018: Spitfire Materials Ltd. announces an Exploration/Drilling Update report for its Aphrodite deposit at the Aphrodite project. Drilling results incl. 12m @ 2.99g/t Au from 434m. Spitfire Materials Limited (ASX: SPI) is pleased to advise that it has | |
| 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 it has received final results from the recentlycompleted Resource in-fill and extensional diamond drilling program at its flagship 100%-owned 1.26Moz Aphrodite Gold Project, located 65km north of Kalgoorlie in the Eastern Goldfields of WA, with the results indicating strong potential to expand the existing Mineral Resource. Aphrodite Diamond Drilling Program Drill holes 18APD012 and 18APD013 were drilled on sections approximately 280m apart and were designed to intersect the lower section of the Phi lode at depths in excess of 300m (below surface), north and south of the Inferred section of the current Resource model. Drilling was successful in intersecting the Phi lode, with 18APD013 in particular intersecting the higher-grade hanging wall and footwall lodes within Phi, returning intercepts of 4m @ 5.29g/t Au and 3m @ 5.3g/t Au (see figure 2 – Cross Section 6,659,940mN ) respectively (prospective sediment host intersected between 434m and 481m downhole). 18APD012 intersected the Phi lode between 405m and 440m down-hole, with sporadic intercepts of >1g/t Au throughout. Interestingly, both holes also intersected the Omega lode - a thin (2m wide) sub parallel lode that occurs to the west of the Phi lode. Intercepts from the Omega lode comprised 1.82m @ 11.60g/t Au from 344.8m (18APD012, drilled to the East, 090°) and 0.47m @ 15.41g/t Au from 578.8m (18APD013 drilled west, 270°). The narrow high-grade Omega footwall lode can now be traced over a strike length of 900m and a vertical extent of 150m and had been identified and modelled, but not included in the current Resource estimate for Aphrodite (see Table 2 for full results), however it is included in the Company’s Exploration Target stated in the ASX announcement dated 16 May 2018. The latest results provide further momentum for the Company’s objective of upgrading the existing Underground Inferred Resource at Aphrodite (1.4Mt at 7.5g/t for 332,000oz - see ASX release 25 January 2018) as the cornerstone of its development studies | |
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