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  • Aphrodite Gold Intersects Multiple Zones Of Gold Mineralisation In WA 0 comments
    Apr 21, 2013 10:54 PM

    Aphrodite Gold (ASX: AQQ) has intersected multiple zones of mineralisation from recent drilling at the self-named project located about 65 kilometres north of Kalgoorlie, Western Australia.

    The drilling set out to test the Alpha and Phi gold lodes to a vertical depth of around 220 metres and found good grades and widths.

    Gold intervals included:

    − 12m at 3.95g/t from 162m + 14m at 1.85g/t from 236m - Hole APR1310
    − 8m at 7.70g/t from 91m including 4m at 13.83g/t - Hole APR1314
    − 39m at 1.33g/t from 148m + 23m at 1.57g/t from 113m + 7m at 2.58g/t from 71m + 5m at 3.24g/t from 192m - Hole APR1315

    The assay results were from the remaining 11 infill holes (APR1309 to APR1319 totalling 2,508 metres) drilled on the near vertically dipping Alpha and Phi lodes with a further hole also drilled in the Epsilon Corridor.

    Significantly, the Phi lode remains open along strike to the south with APR1319 after reporting 24m at 1.68g/t from 118 metres.

    This followed an earlier drill hole on the same section which reported an intersection of 13m at 2.37g/t from 172 metres.

    Pre-feasibility study

    The recent drilling forms part of the company's Pre-Feasibility Study currently in progress.

    Royalty funding

    In late 2012, the company announced a royalty agreement with Franco Nevada Corporation (TSX: FNV) (NYSE: FNV) that involved Franco Nevada advancing Aphrodite Gold $2,500,000 against a future royalty of 2.5% over production from the Aphrodite Project.

    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.

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