Bonanza-grade gold hits continue for Aguia at Colombian play

Aguia Resources has struck more bonanza-grade gold at the company’s Santa Barbara gold project in Colombia. The latest batch of assays from its ongoing diamond drilling and channel sampling confirms the continuity of the project’s high-grade veins. 

Five holes at Santa Barbara churned out juicy gold grades in the heart of Colombia’s richest gold belt, from seven additional diamond holes, taking its program to a total of 2500 metres of drilling. 

With results for two holes still pending, standout intercepts dropped numbers up to 85 grams per tonne (g/t) gold, including a hit of 18.9g/t gold and 22.5g/t silver over 0.35m. Another hit ran to 14.62g/t gold and 12.2g/t silver over 0.31m and a 0.65m intersection graded 10.3g/t gold and 16.9g/t silver. 

The company says results confirm the continuity of its priority Vein 1 to 60m below the old workings. Underground channel sampling from the same vein revealed impressive continuity of gold grades across 54.8m and grading 33.52g/t gold. 

The drilling was targeted to define strike and dip for future mine planning. Plenty of upside remains at Santa Barbara and its more than 7 kilometres of vein strike potential. 

Holes were also designed to test the Mariana vein system to guide new portal development and extend strike beyond the old workings. Aguia says that faulted zones showed anomalous gold, indicating persistent structures. Two holes delineate a fault that offsets the Mariana vein by 30m.

Aguia Resources executive chairman Warwick Grigor said: “These assay results from ongoing diamond drilling and channel sampling reinforce that we have a very high-grade mineralised system that is now just starting to take shape. The channel samples across just one vein over 275 metres showcase the broader potential of the Santa Barbara project. This is a classic narrow vein system where the veins pinch and swell, but with grade continuity over long distances.”

Aguia’s 320-hectare Santa Barbara project sits in the prolific Serranía de San Lucas district of Colombia. The gold at Santa Barbara is mostly hosted in areas where cracks in the rock - or shear zones - have opened and filled with quartz and carbonate veins. 

Across the border in Brazil, Aguia is fast-tracking its Três Estradas phosphate project, having leased the Dagoberto Barcelos processing plant in Cacapava do Sul. 

The company fully owns Tres Estrades, which is 320km from Porto Alegre, Rio Grande do Sul, in Brazil. It benefits from world-class infrastructure, including roads, rail and ports, and sits in the region’s agricultural heartland.

The company is eyeing processing operations beginning early next year on its organic phosphate product, dubbed Pampafos. Recent field trials showed Pampafos rivals the performance of top-shelf imported fertilisers at a fraction of their price. 

While the Tres Estradas project seems set to add grunt to the company’s project mix, Aguia remains focused on its flagship Santa Barbara gold project in Colombia.

As underground development pushes down to 150m and beyond, Vein 1 looks set for a long-term high-grade future for the dual-commodity player. And with growing demand for world food production and shiny golden jewellery and safe-haven bars, Aguia looks to have a very appetising opportunity on its hands in two surging commodity markets.

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au