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  • Aphrodite Gold Drilling Finds Significant Gold Grades And Widths At Epsilon 0 comments
    Dec 4, 2012 5:43 PM

    Perth based Aphrodite Gold (ASX: AQQ) looks to be adding more gold resources to its 1.04 million ounce bounty at Aphrodite, from RC drilling returning significant grades and widths of gold.

    The Aphrodite Gold Deposit is located 75km north of Kalgoorlie, Western Australia.

    Gold intersections from the latest drilling of the Epsilon Zone include;

    Hole APR 1265: 16m at 4.73 g/t (from 61m)
    Hole APR 1266: 10m at 2.28 g/t (from 103m)
    Hole APR 1269: 4m at 4.75 g/t (from 101m)
    Hole APR 1267: 3m at 5.61g/t (from 96m)
    Hole APR 1268: 4m at 3.29g/t (from 92m)

    The program was designed to evaluate the resource potential of the cross-cutting Epsilon lodes at Aphrodite Deposit.

    This drill program, which also includes resource drilling and testing of other gold prospects, forms part of the company's Pre-Feasibility Study into the development of the Aphrodite Project as a significant long term gold producer.

    The target(s) tested are sub-vertical NE-SW trending structures located in a 200 metre corridor (the Epsilon Zone) between the Alpha and Phi gold lodes which together host the current JORC resource at Aphrodite containing 1.04Moz of gold.

    Any uplift in resources from the Epsilon Zone is considered important in that it may lead to a single large open pit being developed, rather than the current scenario being examined of developing separate pits to exploit the Alpha and Phi gold lodes.

    In detail

    The reported results are from a further six (6) RC holes (total 992 metres) drilled along two N-S lines to a maximum vertical depth of around 180 metres.

    To-date 20 holes along six N-S oriented lines have been drilled specifically targeting the cross cutting structures with promising gold intercepts.

    Previous programs included results of: 4m at 10.91g/t Au from 146 metres including 1m at 27.92 g/t Au, 4m at 5.84g/t Au from 98 metres including 1m at 14.14 g/t Au and 2m at 7.86g/t Au from 112 metres.

    Eleven (11) NE-SW cross cutting structures have so far been interpreted 'linking' the N-S trending Phi and Alpha gold lodes.

    This type of lode/structure system is not uncommon in the Kalgoorlie region and elsewhere in the Eastern Goldfields of Western Australia. Of importance is that where the cross cutting structures intersect the Alpha and Phi lodes 'bonanza' gold grades may occur.

    All assaying has been conducted on one metre sample intervals with gold assayed by the Fire Assay 50 gram method with an AAS finish.

    Further drilling will be completed in the Epsilon Zone before Christmas to further validate the cross structures and their potential for hosting gold resources.

    Analysis

    The significant widths and grades continue strong drill results at Aphrodite deposit. The takeaway is the continued strong drilling results like this should see an increase in the overall JORC gold resource inventory at the Deposit.

    It should also lead to better project economics and enhance the project's commerciality of open pit mining from one big pit instead of two smaller ones.

    Proactive Investors is a market leader in the investment news space, providing ASX "Small and Mid-cap" company news, research reports, StockTube videos and One2One Investor Forums.

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