Seeking Alpha

Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
Proactiveinvestors
My blog:
Proactiveinvestors
  • Aphrodite Gold Intersects Up To 10.25g/T Gold At Western Australia Project 0 comments
    Jan 24, 2013 8:17 PM

    Aphrodite Gold (ASX:AQQ) has intersected up to 10.25 grams per tonne of gold from 69 metres following infill drilling at its Aphrodite Gold project in Western Australia.

    The latest intersection of strong gold mineralisation also included 18 metres at 5.04 g/t from 132 metres and 32 metres at 1.99 g/t from 88 metres and 2 metres at 38.92 g/t from 80 metres.

    This potentially confirms the strong gold resource at the project, which already has a JORC resource of 10.18 million tonnes at 3.18 g/t gold for 1.04 million ounces.

    Twenty four reverse circulation holes totalling 3,462 metres was done mostly on the Alpha and Phi lodes, which host the Aphrodite deposit as well as additional drilling undertaken in the Epsilon corridor between these two lodes.

    The holes were drilled to a maximum vertical depth of 200 metres.

    Further drilling is now underway with two reverse circulation rigs currently onsite.

    Analysis

    The Aphrodite Gold project in Western Australia has JORC compliant resource base of 645,000 ounces indicated and 395,000 ounces inferred resource for a total resource of 1,040,000 ounces at 3.18g/t Au.

    This resource has been broken down into two domains- potential open pit at between 0 metres to 150 metres depth and underground between 150 metres to 440 metres depth.

    The latest drilling proves up the potential resource base at the project and also complements historical drilling at the site. Two historic exploratory holes located a further 120 metres along strike to the south reported 8 metres at 2.76 g/t from 114 metres and 10 metres at 1.99 g/t from 262 metres.

    The significant widths and grades continue strong drill results at the deposit, with the upshot being that the continued strong results should lead to 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 Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.