Anglo American (AAUK-Q) has budgeted a minimum $1.1 million for exploration work at the Aripuana massive-sulphide property in Brazil’s Mato Grosso del Norte state.
Anglo plans a program of ground geophysics and electromagnetic and magnetic surveying. This will follow up on anomalies identified through recent airborne surveying. Drilling of selected targets is slated for the third quarter.
Last year, Anglo spent about $1.7 million at Aripuana, considerably more than the originally budgeted $400,000. The work included: diamond drilling and down-hole geophysics; rock sampling and soil geochemistry; and an airborne electromagnetic survey.
Aripuana hosts two deposits, Arex and Valley. An independent estimate at Arex pegs the inferred resource at 7 million tonnes grading 4.57% zinc, 1.81% lead, 0.92% copper, 1.15 grams gold and 59.07 grams silver per tonne. The resource, based on 74 drill holes, lies in three zones in a single massive-sulphide system. It remains open at depth and along strike to the northwest.
About 1 km away, the Valley deposit hosts 11.65 million tonnes grading 6.29% zinc, 2.25% lead, 0.07% copper, 65 grams silver and 0.3 gram gold. Last October, 160 metres west of the Valley deposit, a stepout hole cut 9 metres grading 16.6% zinc, 5.4% lead and 156 grams silver per tonne.
Similar mineralization has been intersected 10 km to the south and has been dubbed the Mocoto prospect. It returned 7 metres averaging 11.65% zinc and 2.73 grams gold from hole 4, starting at a depth of 40 metres.
Anglo operates and owns a 70% interest in the Aripuana project. The remainder is divided between Karmin Exploration (YKA-V) with 28.5%, and unlisted St. Genevieve Resources with 1.5%.
Under the joint-venture agreement, Anglo must spend US$3.25 million by mid-2003. Karmin and St. Genevieve are carried through to a final independent feasibility study.
Be the first to comment on "Anglo budgets $1.1 million for Aripuana"