Aguia hits bonanza gold with first Colombian assay results
The results were backed up by visible gold and repeat intersections across the targeted vein system, setting the stage for a much larger exploration push.
Seven diamond holes covering 756 metres of drilling have been completed so far on the Santa Barbara vein system, with assays returned from five.
Standout drill results include 0.6m grading 25.43 grams per tonne (g/t) gold and 78.3g/t silver from 88 metres depth with encouraging signs of visible gold in the core.
Another hole hit 0.45m running at 15.0g/t gold from 59m including a 0.15m section grading a serious 44.2g/t gold and 74.2g/t silver, while a third hole struck 5.28g/t gold and 9.8g/t silver over 0.6m from 107.5m
Notably, Aguia says every single hole has intersected mineralisation, confirming its structural model and revealing the veins extend at least 50m below the current underground workings.
Drilling has tested 200 metres of strike so far and while the vein widths have typically tended to pinch and swell, the company added the structure remains intact and open in all directions.
The remaining 18 diamond holes, covering 800m of fresh strike, will focus on the Mariana structure. Mariana is a parallel vein system to Santa Barbara and has already shown promise in previous surface work and mining activity.
Underground channel sampling is proving just as interesting. Multiple assays have smashed through the ounce to the tonne, or 31g/t mark - with five samples pushing beyond 50 grams per tonne gold. One standout channel sample even returned an eye-watering 85.04g/t gold and 91.7g/t silver.
The gold at Santa Barbara is mostly hosted in areas where cracks in the rock - or shear zones - have opened up and filled with quartz and carbonate veins. These sweet spots, known as 'dilation zones', have produced stronger sulphide development and higher-grade mineralisation, particularly in the earlier-stage vein phases.
Aguia's geologists suspect a nearby felsic porphyritic intrusive rock could be the driving force behind the formation of the Santa Barbara gold system.
If confirmed, the intrusive could also point to the presence of a larger epithermal overprint, similar to that seen at Continental Gold's nearby world-class Buriticá mine. Buriticá hosts a staggering 5 million ounces of gold at an average grade of 10.3g/t and 21 million ounces of silver going 40.8g/t, setting a lofty goal for Aguia's own project.
With channel samples screaming high-grade and drill bits continuing to hit paydirt – pretty much every go, Aguia's Colombian adventure is shaping up as a potential company-maker. Results from holes six and seven are due in early August and could inject even more momentum into this emerging South American gold play.
Is your ASX-listed company doing something interesting? Contact:
matt.birney@wanews.com.au
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