Latest news with #AguiaResources'
West Australian
29-07-2025
- Business
- West Australian
Aguia hits bonanza gold with first Colombian assay results
The assay lab lit up like a Christmas tree after Aguia Resources' first drill campaign at its Santa Barbara project in Colombia delivered bonanza hits of up to 44.2g/t gold and 78.3g/t silver. 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:
Yahoo
26-02-2025
- Business
- Yahoo
Aguia Resources secures ten-year lease to use processing facility for Brazilian mine
Aguia Resources' 100%-owned Brazilian subsidiary Águia Fertilizantes has entered INTO a ten-year lease agreement with Brazilian company Dagoberto Barcelos to utilise its existing processing facility in Rio Grande do Sul, Brazil, to treat Pampafos ore. This strategic move is aimed at enhancing Aguia's phosphate production capabilities. Aguia also retains the option to extend the lease for a further ten years. Under the terms of the lease, Aguia will pay an entry fee of 5m reais ($871,765), structured in six payments to align with the company's cash flow strategy. The initial payment of 120,000 reais is due eight days post-signing, with subsequent payments spread across the following five months. From 1 August 2025, Aguia will incur a monthly lease fee of 163,200 reais. Aguia will take operational control of the processing facility, which currently has a processing capacity of around 100,000 tonnes per annum (tpa) of phosphate. Installing an extra hammer mill, a second drying unit, and minor system upgrades could boost annual production to 300,000tpa. Production at the facility is projected to begin by the third quarter (Q3) of 2025, initially utilising Pampafos ore. Aguia is fast-tracking exploration and development of the Mato Grande and Passo Feio deposits, which could potentially replace the Pampafos ore. These deposits are located near the DB plant, with Mato Grande less than 3km away, and Passo Feio located 8km away. Drilling and evaluation efforts at these sites are currently underway. Aguia executive chair Warwick Grigor said: 'Depending upon the speedof market penetration, Aguia will look to expand production at the plant as early as the start of 2026. When I became chairman of Aguia I stated that our goal was to clear the way to commence production of phosphate in Brazil as soon as possible. 'I am pleased to report that we are now close to realising that goal with our eye on progressive expansion through one or more processing plants and with significantly less capex [capital expenditure] than previously expected. With Brazil largely dependent on phosphate imports, we are confident of carving out a meaningful market position in southern Brazil, the country's preeminent agricultural region. 'We look forward to bringing on a second meaningful revenue stream this year, adding to our gold processing operations at the high-grade Santa Barbara project in Colombia which is advancing very favourably.' Aguia anticipates earning A$150 to A$160 per tonne for its high-grade company is in talks with another processing facility in Caçapava do Sul to expand production from its fully owned phosphate projects. "Aguia Resources secures ten-year lease to use processing facility for Brazilian mine" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
