Aphrodite Gold discovers gold in maiden drilling at North Menelaus prospect

Aphrodite Gold (ASX: AQQ) continues to deliver a very strong news flow in the short term from the plus one million ounce Aphrodite Gold Deposit in Western Australia, and today was no exception.

In a maiden five hole for 874 metre reverse circulation drilling program over the North Menelaus Gold Prospect, the company intersected gold - providing another boost to the project.

The significance of the results is the location, just four kilometres from the Aphrodite deposit,

Highlights from the recently completed program include 2 metres at 7.05 grams per tonne (g/t) gold from 102 metres, 4 metres at 3.60g/t gold from 84 metres, and 15 metres at 1.33g/t gold from 122 metres.

The maiden drilling hits are supported by broad historic gold intercepts at the prospect such as 23 metres at 3.20g/t gold from 83 metres, along with 5 metres at 4.73g/t gold from 161 metres and 2 metres at 5.48g/t gold from 122 metres.

Leon Reisgys, exploration and development director, commented “these results are very encouraging and confirm that our Aphrodite Gold Project has the potential to grow into a significant gold camp."


The exploration program

Importantly for the prospectivity of the area, all five holes intersected significant gold mineralisation of greater than 0.5g/t, with intercepts extending up to 15 metres in length from a down hole.

Another positive is mineralisation is open to both the north and south.

Drilling was completed along three E-W lines spaced 80 metres apart and in a zone where gold mineralisation had been reported in historic drill holes.

The company said at this early stage of exploration North Menelaus is interpreted as possibly representing a west offset of the same zone/structure which hosts the Chameleon Gold Prospect, located 500 metres to the south-south-east.

Recent drilling by Aphrodite Gold at Chameleon identified significant and in places high grade gold mineralisation over a strike length of 600 metres.

The North Menelaus Prospect is just one of numerous gold targets which have been identified within the Aphrodite Project and adjacent Scotia joint venture area where the company is earning an 80% interest in the gold rights from Breakaway Resources (ASX: BRW).


Scoping Study underway

The company continues to move the Aphrodite deposit forward, and earlier in the month commenced a Scoping Study following positive metallurgical test work of plus 90% gold recoveries from the deposit.

The study will examine the staged development of the deposit by initial open pit mining followed by underground development of higher grade resources.

Also to be examined, the study will investigate the practicalities of utilising available nearby infrastructure close to the deposit, including processing plants.

One of the major benefits already of the Aphrodite deposit is the strategic location 75 kilometres north of Kalgoorlie.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/19753/aphrodite-gold-discovers-gold-in-maiden-drilling-at-north-menelaus-prospect-19753.html