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  • Auroch Minerals Scout Drilling Confirms Previous Gold Intersection Values 0 comments
    Jul 5, 2013 12:29 AM

    uroch Minerals (ASX: AOU) has completed initial scout drilling at the Guy Fawkes Project Sector of its wholly owned Manica Gold Project in Mozambique that confirmed previous drill intersection values.

    Most recent assays from the 33 drill holes totalling 7,445 metres include 5 metres at 5.77g/t gold from 5.1 metres and 9.4 metres at 2.92g/t gold from surface.

    Importantly, results from the 2012/2013 drilling campaign justify infill drilling to be incorporated into the Definitive Feasibility Study on Auroch's existing free-milling, non-refractory and transitional resources within the Fair Bride, Guy Fawkes and Dot's Luck Project Sectors.

    This will in turn lead to an update of the resource at Guy Fawkes that will be fed into the DFS.

    Drill targets

    The company's interpretation of the exploration data set within the Northern Shear Project Sectors has revealed exactly where it needs to focus its short term infill drilling program as part of the DFS.

    Furthermore, this effort has resulted in the selection of a suite of gold target areas for longer term follow up and scouting.

    2013 Guy Fawkes Trenching Campaign

    A trenching campaign, comprising thirty trenches, is in progress with three trenches having been completed to date.

    Alteration associated with known structures has been intersected in all trenches completed to date with an intersection of 5.09g/t over 2.00m within the 140m trench GT22.

    "Auroch understands its operational goals and has a decisive strategy to near term cash-flow. The exploration results achieved to date have supported the Board's decision to pursue a Near Term Route to Production," managing director Dean Cunningham said.

    The company is focusing its activities towards completing the DFS, which focuses on developing existing non-refractory and transitional resources at the Fair Bride prospect.

    This includes completing the Environmental License on the Mining Concession, completing the infill drilling at Guy Fawkes and Dot's Luck Project Sectors to upgrade the confidence categories of existing resources as well as metallurgical test work at the Fair Bride, Guy Fawkes and Dot's Luck Project Sectors.

    A new Scoping Study had confirmed the technical and commercial viability of building a 40,000 ounces per annum mine at the 2.9 million ounce Manica gold deposit.

    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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