Gold explorer Aureus Mining (LON:AUE,TSE:AUE) expects to carry out another 15,000 metres of diamond drilling across its advanced exploration targets after completing feasibility drilling at the New Liberty gold project in Liberia.
The firm announced today results of assays on a further 3,968 metres of drilling from its feasibility programme. This third set of holes returned multiple intercepts that included grades ranging from three grams per tonne to 8.9 grams per tonne of gold over several metres.
In all, 190 holes have been drilled to date and they total 28,397 metres. The majority has been drilled in the last four months with four diamond drill rigs.
The feasibility drilling programme was designed to estimate the quantity of gold resources within the New Liberty deposit down to a depth of 200 metres below surface and over a strike length of 1.75 kilometres. To date the firm has received assay results for 109 holes, accounting for 56 per cent of the drilling programme, and all of the remaining assay results are expected by the end of this month.
New Liberty has an estimated indicated mineral resource of 751,000 ounces of gold grading 4.17 grams per tonne and an estimated inferred mineral resource of 762,000 ounces of gold grading 3.4 grams per tonne.
“The completion of the feasibility drilling programme represents an outstanding achievement for the company within a short time period,” said David Reasing, Aureus’s chief executive officer. “Feasibility work on the New Liberty deposit continues with metallurgical, mining, power and infrastructure and tailings design studies. The focus of the diamond drilling is now directed towards our advanced exploration targets within the mining and exploration licences and a further 15,000 metres is planned for the remainder of this year."
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