What Risks Does Vein Variability Pose to Aguia’s Santa Barbara Gold Project?

• Seven diamond drill holes completed with assays for five
• High-grade gold and silver intersections confirmed below current workings
• Visible gold observed in drill core
• Mineralised veins remain open along strike and at depth
• Ongoing drilling to guide underground development over 800m strike

Exploration Breakthrough at Santa Barbara

Aguia Resources Limited has delivered a significant update on its Santa Barbara gold project in Colombia, revealing encouraging results from its maiden diamond drilling campaign. The company has completed seven drill holes, with assays available for five, confirming the presence of high-grade gold and silver mineralisation approximately 50 metres below the current underground workings.

The drilling intersected well-developed mineralised veins consistent with the geological model, demonstrating continuity of the targeted vein system. Notably, one drill hole returned an impressive 25.43 grams per tonne (g/t) gold and 78.3 g/t silver over a narrow 0.6-metre interval, while visible gold was observed in the core, underscoring the quality of the mineralisation.

Structural Controls and Mineralisation Characteristics

The Santa Barbara deposit is characterised by structurally controlled mesothermal gold veins with an epithermal overprint, hosted within biotitic and amphibolitic migmatites and gneisses. The drilling confirmed that mineralisation is associated with brittle-ductile shear zones and quartz-carbonate veining, with veins varying in thickness due to structural dilation and compression zones.

Drill holes consistently intersected the down-dip projection of the vein system, with mineralisation remaining open both along strike and at depth. This suggests significant potential to expand the known mineralised footprint, which currently extends over an 800-metre strike length targeted for underground development.

Channel Sampling Corroborates High Grades

Complementing the drilling results, channel samples collected from underground development works have confirmed robust high-grade gold values over continuous vein sections. Several assays exceeded 30 g/t gold, with some samples surpassing 85 g/t, reinforcing the potential economic significance of the deposit.

Executive Chairman Warwick Grigor emphasised the importance of the depth continuity of the veins, noting that while individual assay grades vary due to vein pinch and swell, the overall structural continuity supports the project’s growth potential. The ongoing drilling program, which includes 18 additional holes, is expected to provide a steady flow of results to further define the mineralisation.

Looking Ahead

With assay results pending for the latest drill holes and underground development progressing, Aguia Resources is well positioned to advance the Santa Barbara project towards a more comprehensive resource definition. The confirmation of high-grade mineralisation continuity below existing workings is a critical milestone that could underpin future mine planning and development.

As the company continues to unlock the potential of its Colombian gold assets, investors and analysts will be watching closely for further assay updates and exploration milestones that could reshape the project’s valuation and strategic outlook.

Bottom Line?

Santa Barbara’s confirmed high-grade veins below current workings mark a pivotal step toward unlocking its full potential.

Questions in the middle?

• How will upcoming assay results from the remaining drill holes impact resource estimates?
• What is the timeline for underground development to access the newly confirmed mineralisation?
• Could the structural complexity and vein variability affect future mining and processing plans?