Aurelia Metals Ltd (ASX:AMI) Quarterly Activities Report - December 2014
28.01.2015 | ABN Newswire
Sydney, Australia (ABN Newswire) - Aurelia Metals Ltd. (ASX:AMI) announce the Quarterly Activities Report for the period ending December 2014 with significant highlights.- Hera Gold-Zinc-Lead Operation (100%) formally opened on 26 November
- First concentrate shipment completed on schedule
- Hera Process Plant in final stages of commissioning
- Multiple high-grade results from underground exploration drilling at Hera South
- Rights issue raises $10 million for exploration, working capital and growth
OPERATIONS & DEVELOPMENT
- Hera Gold-Zinc-Lead Operation (100%) formally opened on 26 November
- Commissioning of the Hera Process Plant continued during the quarter, with a focus on the gravity gold circuit, leach circuit and mechanical stability of the tertiary crushing circuit
- Optimisation of metal recoveries, with lead and zinc recoveries to concentrate improving to >95%
- Underground mine performance continues strongly with 1,051m of lateral advance for the quarter.
- First concentrate shipment delivered on schedule and above specifications on 25 November
EXPLORATION
- High-grade results from underground exploration drilling at the Hera Project recorded further strong results on both the Hays Lens (outside of existing mine Reserves) and the Hera South Lens (to the south of existing mine Reserves).
Highlight results from the Hays Lens include:
- HRUD109: 7.7m @ 16.4g/t Au, 9g/t Ag and 5.1% Pb+Zn
- HRUD112: 7.2m @ 10.5g/t Au, 29g/t Ag and 10.2% Pb+Zn
- HRUD121: 4.0m @ 32.8g/t Au, 22g/t Ag and 4.8% Pb+Zn
Highlight results from the Hera South Lens include:
- HRUD137: 11.25m @ 6.2g/t Au, 13g/t Ag and 2.8% Pb+Zn
- HRUD138: 23.7m @ 6.9g/t Au, 14g/t Ag and 5.9% Pb+Zn, including
7.7m @ 19.6g/t Au, 11g/t Ag and 6.2% Pb+Zn
- HRUD139: 8.95m @ 11.8g/t Au, 39g/t Ag and 7.5% Pb+Zn
CORPORATE
- Gold sales of 3,365 ounces at an effective average price of A$1,487oz. At quarter end, the Company held 26,445oz of gold put options at a strike of A$1500/oz.
- Provisional concentrate sales revenue of USD$3.1m was received in the quarter
- On 16 December Aurelia announced a fully underwritten rights issue to raise $10 million to fund high priority exploration, working capital and growth
- At 31 December 2014, the Company held cash at bank of $9.7 million. Subsequent to the end of the quarter, the completion of the Rights Issue raised $10 million before fees.
HERA MINE FORMALLY OPENED
The Hera gold-zinc-lead mine was formally opened on 26 November by the NSW Minister for Resources and Energy, Mr Anthony Roberts MP and Mr Kevin Humphries MP, Member for Barwon. The opening was attended by Aurelia employees, Directors, shareholders, project partners and members of Nymagee community. In his address to the attendees, Mr Anthony Wehby, Chairman of Aurelia Metals commented, "We are delighted to be opening of Stage One of the Hera-Nymagee Project today. Hera reflects the aspirations, sweat and financial investment of a great many people and it is a privilege to be part of this occasion"
To view the full quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-AMI-707445.pdf
About Aurelia Metals Ltd:
Aurelia Metals Ltd. (ASX:AMI) is focused on the development and exploration of the high grade Hera-Nymagee Project in the Cobar district of NSW.
Aurelia is actively drilling the evolving copper deposit at Nymagee with the potential that the Nymagee mineralisation may evolve into another 'Cobar Giant' similar to the world class CSA copper deposit located approximately 100km north-west along strike.
Aurelia also remains active in the exploration for copper, gold and tin on a number of tenements in the Lachlan Fold Belt of NSW.
Source:
Aurelia Metals Ltd.
Contact:
Aurelia Metals Ltd.
T: +61-2-6363-5200
F: +61-2-6361-4711
E: office@aureliametals.com
WWW: www.aureliametals.com