Aurelian Resources (ARU-V, AUREF-O) has delivered another pair of long intervals of high-grade gold from its Fruta del Norte (FDN) discovery on the Condor project in southeastern Ecuador.
The latest batch of three holes includes 215.9 metres of 10.1 grams gold and 18.5 grams silver per tonne in hole no. 63, and 191.6 metres running 7.43 grams gold and 11.1 grams silver in hole no. 62.
Reactions to the results were tempered after Aurelian said the veins and axis of core from hole no. 63 are “dominantly sub-parallel.”
Hole no. 63 includes a 31.1-metre interval of sub-vertical vein material averaging 26 grams gold and 21 grams silver. Considered with a previous nearby intersection of 11.5 metres grading 188.2 grams gold, the vein’s true width is estimated at between 7 metres and 15 metres.
Aurelian believes the north-striking vein may represent the eastern edge of the FDN mineralization. The hole also encountered 13.1 metres of stockwork averaging 29.8 grams gold and 29.1 grams silver.
Hole no. 62 intersected a broad zone of epithermal stockwork veining in silicified andesite and a vertical fault zone believed to bound the FDN block to the west. Both holes include occurrences of visible gold.
A third hole, sunk to the west of previous drilling, encountered 73.4 metres of 1.45 grams gold and 9.8 grams silver overprinting relic copper porphyry-style alteration. An 18-metre interval surrendered 0.71% copper, 0.62 gram gold and 16.8 grams silver.
“These assay results confirm continuity of gold grade over a strike length of approximately 400 metres of the FDN discovery.” Said Aurelian CEO Patrick Anderson in a prepared statement.
The company adds that visual logging of core from holes with assay results pending indicates that mineralization continues northward bringing the overall strike length of FDN to around 700 metres.
Aurelian has identified several new targets within the sedimentary basin and at El Tigre, some 5km to the east. The company currently has two drill rigs turning on the project; two additional rigs are being prepared for shipment to Ecuador.
After surging once trading resumed in mid-morning, shares in Aurelian finished off 16 at $21.90 on the TSX Venture Exchange on Aug. 21.
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