Two joint-venture partners — American Resource (NASDAQ) and a subsidiary of BHP Minerals — encountered copper mineralization in two drill holes on their Agua Rica project in Argentina.
The drilling tested several geochemical anomalies in a previously untested area. One intersection includes an 80-metre interval grading 1.37% copper, 0.56 grams gold per tonne and 0.036% molybdenum.
The surface area of the new zone is estimated at 600 by 400 metres, and the joint venture has more than doubled its holdings at Agua Rica to about 12,500 hectares.
Drilling is testing the new zone, as well as other targets. Assay results from the two holes are as follows:
Hole Interval Width Copper Gold Molybdenum
(m) (m) (%) (g/tonne) (%)
AR-7 6- 164 158 0.03 0.58 0.023
164- 188 24 1.00 0.40 0.040
188- 272 82 0.59 0.42 0.048
272- 398 116 0.78 0.16 0.065
398- 500 102 0.64 0.08 0.064
AR-8 3- 90 87 0.02 0.69 0.029
90- 170 80 1.37 0.56 0.036
170- 198 28 0.54 0.44 0.015
198- 239 41 0.16 0.17 0.002
239- 425 186 0.05 0.13 0.002
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