Aphrodite Gold's drill results from Alpha Lode to be fed into revised resource

Aphrodite Gold's (ASX: AQQ) latest infill drill results from the Alpha Lode at the Aphrodite Gold Project will be fed into a revised total resource estimate after drill results are received from the Phi Lode.

All holes drilled at Alpha Lode near Kalgoorlie, Western Australia reported multiple zones of gold mineralisation.

Latest drilling on the Alpha Lode was to a maximum vertical depth of 250 metres with significant gold intersections reported including:

- 20 metres at 3.57g/t gold from 215 metres + 10 metres at 4.09g/t gold from 164 metres
- 47 metres at 2.34g/t gold from 131 metres +23 metres at 1.87g/t gold from 90 metres 
- 16 metres at 4.20g/t gold from 140 metres +7 metres at 3.81g/t gold from 87 metres
- 9 metres at 5.13g/t gold from 108 metres + 19 metres at 2.09g/t gold from 73 metres + 8 metres at 3.69g/t gold from 130 metres

They are from the last eight holes (1,850.5 metres) of resource infill drilling completed on the Alpha Lode in 2011.

A total of 35 holes for 8,079.5 metres have been drilled on this lode during the year.

Results from further RC drilling on the Phi Lode located approximately 200 metres to the west, are expected shortly.

Current total existing JORC Resource for the Aphrodite Gold Project is 10.06 million tonnes at 3.19g/t gold for 1,033,000 ounces.

Scotia Project

Separately, Aphrodite Gold has earned an initial 51% interest in the Gold Rights at Breakaway Resources' (ASX: BRW) Scotia Project that is strategically located adjacent to the Company’s Aphrodite Gold Project.

Aphrodite is now earning an additional 29% interest in the Scotia Project’s Gold Rights (for a total 80% joint venture interest) by spending a further $1.1 million on gold exploration within a period of up to three years.

Scotia Project has a number of gold targets including the advanced Chameleon Prospect 5 kilometres north of the Aphrodite Gold Deposit.

Following a successful drill campaign on the Chameleon Prospect in July 2011 the company announced an Exploration Target of 2.1 to 2.5 million tonnes at between 1.4 and 1.9g/t gold for 100,000 to 140,000 ounces of gold.

A small RC drill program (4 holes) has recently been completed at Chameleon to provide additional information to allow a fuller analysis of the mineralisation.

Results from this program are expected to be received early 2012. A resource drilling program is scheduled for 2012.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/23683/aphrodite-golds-drill-results-from-alpha-lode-to-be-fed-into-revised-resource-23683.html