AGR

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3.8¢ aguia resources limited

I think it'd be fair to say we're onto a winner here...

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opel24v

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12/10/24

11:42

Post #: 76091823
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Originally posted by bosorix: ↑

Success next door to Aguia’s Atocha property
When Aguia purchased the Santa Barbara Gold Project it also came with another rich silver/gold project named Atocha. This is in an area in Colombia that has been worked by prospectors and miners for hundreds of years. Aguia hasn’t said much about it since the takeover of Andean, but you can get the information from the Target Statement lodged with the ASX in March 2024, in the Independent Technical Report. “At the Atocha Project a high-grade silver-gold vein field with 7 parallel vein systems was recently discovered to the south of the historic Santa Ana and El Cristo colonial silver mining district. Recent core drilling at the LaYe vein system intersected high-grade silver and gold mineralisation intersecting multiple sets of stacked veins. The La Ye vein system comprises a northeasterly trending corridor of mineralised quartz veins with a strike of around 2 km and widths to 50m”.
Canadian company, Outcrop Silver & Gold (TSXV:OCG), has ground abutting the Aguia licence. Last week it announced a spectacular intercept of 0.6m at 1,136 gpt AgEq. As it happened this is right next to the boundary. It looks like the favourable trend runs right into Aguia’s Atocha property. What are the Implications for Aguia?
Nearology is a great tool for motivating the speculators. Whenever a company makes a good discovery, the punters will buy up shares in companies with surrounding licences. The enthusiasm tends to rub off onto the neighbouring company very quickly. Maybe this was the reason for the spike in Aguia’s share price on Thursday. Were the Canadians buying? I don’t know. The main point though, is that this is more serious than address pegging or nearology. The Atocha licence has been drilled previously and there have been spectacular results already reported. These include; • Hole AT-21-01: 0.5m at 1,137 gpt AgEq • Hole AT-21-02: 0.8m at 2,233 gpt AgEq • Hole AT-21-03: 0.5m at 551 gpt AgEq • Hole AT-21-05: 0.55m at 561 gpt AgEq and 0.4m at 772 gpt AgEq

These are very good grades in typically narrow veins. The geology is well understood. I suggest that you go to the Target Statement where you can see diagrams and more detail. Why hasn’t Aguia mentioned them previously? Well, it has, in the Target Statement. It is there for everyone to see but if the Company wants to say more, it is not compliant to just repeat the numbers in a subsequent ASX release. It would have to go through a tortuous process of referencing everything to the satisfaction of Chapter 5 of the Listing Rules. It is easier just to say “go look at the Target Statement”. This is a great exploration pro
ject and the potential value is highlighted by the results that Outcrop is achieving. If it is indeed the same mineralisation across the boundary, that should open up the possibility of co-operation between the two companies. Watch this space for more drill results and other outcomes.
WG today

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I think it'd be fair to say we're onto a winner here

http://www.fareastcapital.com.au/imagesDB/newsletter/WeeklyComm12Oct2024.pdf

AGR Price at posting: 4.9¢ Sentiment: Buy Disclosure: Held
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Last 3.8¢		Change -0.005(11.6%)		Mkt cap ! $50.30M

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