Aguia Quarterly - look at the drilling plans As we all know, Aguia Resource (AGR) doesn’t have a JORC resource. That is why the ASX won’t allow the Company to call Santa Barbara a “mine” yet and won’t allow guidance. However, Aguia will soon address that anomaly. The quarterly report released last week gives a detailed plan of drilling that will commence in Q1 next year. Designed for the Santa Barbara and Mariana vein systems, the drill holes will explore the strike and dip continuity of the vein systems and test areas outside of the known vein systems for additional vein sets. There is a huge target of 7 km of veins that are awaiting drill testing. Given that there are parallels with the geology at Buritica, a 400,000 oz gold producer only circa100 km away, the blue sky appeal is compelling. The first program involves 21 proposed drill holes for an estimated total of 2,044m of drilling. The holes are designed to intersect the target main vein at depths of 25m and 50m below the tunnel level in the first instance.
WG today
AGR Price at posting:
5.0¢ Sentiment: Hold Disclosure: Held
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