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Spitfire Materials Ltd.
Summary
| Project: | Aphrodite | |
|---|---|---|
| Deposit: | Aphrodite | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/3/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 3-9-2018: Spitfire Materials Ltd. announces an Exploration/Drilling Update report for its Aphrodite deposit at the Aphrodite project. Drilling results incl. 17m @ 6.38g/t Au from 475m. 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 completed the second diamond drilling program its flagship 1.26Moz Aphrodite Gold Project, 65km north of Kalgoorlie in the Eastern Goldfields of WA, with the final primary assay results confirming the continuity and quality of the underground Resource that will form the basis of upcoming economic studies on the project. Spitfire has completed two diamond drilling programs at Aphrodite this year, comprising over 13,000m of drilling in the Phase 1 and Phase 2 programs. The second program was mainly designed to in-fill and upgrade the underground Mineral Resource, comprising an Indicated and Inferred Resource of 2.9Mt at 7.0g/t Au for 663,000oz (refer Resource Table on page 7 of this Announcement) as the basis of a Pre-Feasibility Study on the combined Aphrodite and Excelsior Gold projects (following completion of the merger of the two companies – Refer ASX Release 14 August 2018). The majority of assay results from Phase 2 have now been received with the results confirming both continuity and grade within the lower zones of the Alpha lode, while also confirming the Company’s upgraded geological model for the Aphrodite deposit, providing increased confidence in the ability to target highergrade lodes. The drilling program also included three diamond drill holes to test the Phi North Exploration Target (Refer ASX 16 May 2018 Exploration update and new drilling program at Aphrodite). While confirming the presence of the key structure hosting the mineralisation in this area, further drilling will be required in this area to extend the Resource. APHRODITE DIAMOND DRILLING PROGRAM Drill holes 18APD021, 18APD022, 18APD023 and 18APD027 – 18APD029 were completed on sections approximately 40m to 80mapart and were designed to intersect the lower section of the Alpha lode at depths in excess of 300m (below surface), within the Inferred and unclassified section of the current Resource model. | |
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