Aguia Resources Confirms High-Grade Veins in Early Santa Barbara Drilling
Aguia Resources has reported promising initial drill results at its Santa Barbara gold project in Colombia, confirming key geological models and supporting a significant high-grade gold target. The company plans to accelerate drilling to further define the resource and advance mine planning.
- First two diamond drill holes intersect mineralised quartz veins with gold-associated sulphides
- Structural geological model confirmed, including fault offsets between vein blocks
- Exploration Target estimated at 2-4 million tonnes grading 20-30 g/t gold
- Second drill rig to be added to speed up the 25-hole program, subject to financing
- Metallurgical testing underway to improve gold recovery in pilot processing plant
Initial Drilling Validates Geological Model
Aguia Resources Limited has taken a significant step forward in its Santa Barbara gold project with the completion of the first two diamond drill holes. The initial hole intersected a mineralised quartz vein approximately 40 meters below existing underground workings, visually confirming the presence of gold-associated sulphides such as pyrite, sphalerite, and galena. These early visual indicators align well with the company’s in-house structural interpretation, which anticipated fault offsets separating northern and southern vein blocks.
The second hole, still in progress, has already confirmed the predicted vein offset beyond the fault, reinforcing confidence in the geological model. This model interprets the Santa Barbara vein system as part of a larger mesothermal vein network with epithermal overprints, a style known for high-grade gold mineralisation.
Exploration Target and Program Expansion
Back in April, Aguia geologists estimated an Exploration Target of 2 to 4 million tonnes grading between 20 and 30 grams per tonne of gold. The positive initial drill results provide early validation of this ambitious target. The current drilling campaign is planned for 25 holes, with most designed to intersect the primary Santa Barbara vein within 100 meters depth. Aguia intends to follow up with successive drilling programs to explore over 7 kilometers of known mineralised veins on the property.
To accelerate progress, the company plans to introduce a second drill rig in the coming weeks, contingent on securing additional financing. This move aims to extend drilling to greater depths, essential for detailed mine planning and resource delineation.
Strategic Importance and Future Outlook
Executive Chairman Warwick Grigor highlighted the potential for the project to evolve from a small profitable underground mine into a substantial high-grade gold resource. He referenced the Lassonde Curve, suggesting Aguia may be entering a phase of maximum share price appreciation as exploration results unfold.
Meanwhile, metallurgical testing is underway using the company’s 30 tonnes per day pilot processing plant, focusing on improving gold recoveries through conventional milling and cyanide leaching. These tests will be critical to confirming the economic viability of the resource once assay results are received.
Aguia’s Santa Barbara project is part of a broader portfolio that includes phosphate and copper assets in Brazil and Colombia, positioning the company well for diversified growth in the mining sector.
Bottom Line?
As Aguia accelerates drilling and awaits assay results, the Santa Barbara project could soon redefine its value proposition for investors.
Questions in the middle?
- What will the pending assay results reveal about gold grades and continuity?
- Can Aguia secure financing to deploy the second drill rig and maintain drilling momentum?
- How will metallurgical test outcomes impact the projected recoveries and mine economics?
