Australian Mines Uncovers Record Gold Intercept at Boa Vista – What’s Next?
Australian Mines Limited has reported its strongest gold drill intercept to date at the Boa Vista Gold Project in Brazil, extending mineralisation both along strike and down dip. These results highlight the potential for a large-scale bulk-tonnage gold system.
- Record drill intercept of 195.3 aggregate gram-metres at Boa Vista
- Mineralisation extended ~100m down dip and along strike
- Six of eleven 2025 drill hole assays received, five pending
- Historic inferred resource of ~336,000 oz gold at VG1 prospect
- Follow-up drilling underway to test further extensions
Record-Breaking Intercept at Boa Vista
Australian Mines Limited (ASX:AUZ) has unveiled assay results from three additional diamond drill holes at its Boa Vista Gold Project in Brazil, revealing the strongest gold intercept recorded at the site to date. The standout hole, VGADD0010, returned an impressive 195.3 aggregate gram-metres, a metric combining grade and intercept length, and notably ended in mineralisation at a depth of 303.6 metres, indicating the deposit remains open at depth.
Extending the Mineralised Envelope
The drilling campaign has successfully extended the known mineralisation approximately 100 metres down dip and along strike, suggesting a potentially large bulk-tonnage gold system. VGADD0010 delivered three significant broad intersections, including a high-grade 4 metres at 18.57 grams per tonne (g/t) gold. Other holes, VGADD0006 and VGADD0005, confirmed extensions to the northwest and down dip, respectively, with mineralisation starting from surface in VGADD0006 and evidence of possible parallel mineralised zones in VGADD0005.
Context and Historical Significance
The Boa Vista project’s VG1 prospect hosts a historic inferred resource estimated at approximately 336,000 ounces of gold, based on a foreign resource estimate compliant with NI 43-101 standards. The prospect remains open along strike and at depth, with previous drilling returning multiple high-grade intercepts. Australian Mines’ recent drilling results reinforce the continuity of mineralisation and the potential to expand the resource significantly.
Ongoing Exploration and Future Plans
Assays have now been received for six of the eleven drill holes completed in the 2025 program, with five results still pending. Drilling has recommenced to test further strike extensions to the northwest. The company plans to integrate these new results into its geological models, update mineralisation wireframes, and prioritise follow-up drilling to further define the resource and explore additional extensions.
Broader Project Updates
Alongside Boa Vista, Australian Mines provided a brief update on its Flemington Scandium Project in New South Wales, Australia, noting that assay results from recent drilling are pending and that an updated scoping study led by SRK is nearing completion.
Bottom Line?
With record intercepts and ongoing drilling, Australian Mines is poised to redefine the scale of gold mineralisation at Boa Vista, but key assay results remain awaited.
Questions in the middle?
- Will the pending assay results confirm further extensions or reveal new high-grade zones?
- How will the updated geological models impact the resource estimate and project economics?
- What are the timelines and strategies for advancing Boa Vista towards resource definition and potential development?
