Mr. David Reading reports
NDABLAMA FINAL DRILL RESULTS HIGHLIGHT GOOD GRADES
Aureus Mining Inc. has released results from the remaining 49 holes of the phase four drilling program at the Ndablama gold project. These results follow those announced on Jan. 17, April 7 and July 10, 2014. The phase four drilling program included a total of approximately 19,000 metres of reverse circulation (RC) and diamond drilling. The RC drilling targeted the infill areas between diamond holes previously drilled, with the new diamond holes testing for downdip and strike extensions to the current mineralized system. Ndablama is located within the northern block of the company's 100-per-cent-owned, Bea Mountain mining licence in Liberia, 40 kilometres northeast of Aureus's flagship New Liberty gold project.
Highlights
Results are presented for the final 24 diamond drill holes (4,101 metres) from the phase four drilling program at Ndablama. Drilling was undertaken to test the downdip and strike extensions to the 2013 inferred mineral resource of 451,000 ounces at 2.1 grams per tonne (g/t) gold (Au), released on the November, 2013.
Intercepts include:
- Three g/t over 28 metres from 139 metres;
- Three g/t over 22 metres from 98 metres;
- 2.8 g/t over 24 metres from 88 metres;
- 3.3 g/t over 18 metres from 123 metres;
- 2.3 g/t over 24 metres from 95 metres.
All drill holes have intersected the mineralized system and confirm the shallow westerly dip varying between 30 and 10 degrees.
Phase four diamond drilling results confirm continuity of the mineralized system downdip for an additional 300 metres beyond the limits of the initial maiden resource, more than doubling the downdip extent of the mineralized system. Intercepts commence from 90 metres below surface to a maximum of 240 metres below the surface. The mineralized zone was extended southward by an additional 100 metres and remains open northward.
The results announced today also include the remaining 25 RC drill holes (3,480 metres) carried out as infill holes in advance of upgrading the current inferred resource. Intercepts include:
- 6.2 g/t over 45 metres from 85 metres;
- 2.9 g/t over 23 metres from surface;
- 2.5 g/t over 21 metres from 38 metres;
- 2.4 g/t over 22 metres from 71 metres;
- 2.2 g/t over 16 metres from 103 metres;
- 2.3 g/t over 11 metres from 185 metres.
The infill RC drilling results confirm mineralization continuity within the already defined orebody. This program was designed to close the drill spacing down to 50 metres.
Following receipt of the phase four results, the company is to commence a new National Instrument 43-101 resource estimate for Ndablama, due for completion in fourth quarter 2014.
Further metallurgical studies are currently being conducted on the Ndablama deposit. These studies follow initial work conducted in 2013 which highlighted 70-per-cent gravity recovery and 94-per-cent leach recovery for fresh ore (see press release of Dec. 10, 2013).
Ndablama forms part of a five-kilometre-long pressure shadow corridor. Exploration work has confirmed that gold mineralization is associated with a shallow, westerly dipping shear zone which can be followed at surface for five kilometres. To date only Ndablama and Leopard Rock have been drill tested. Exploration conducted on Ndablama Far North and Leopard Rock South returned encouraging trench and rock results and these targets are ready to be drill tested.
Toward the northeast the pressure shadow corridor connects to the Yambesei shear zone which is highlighted by continuous soil anomalies extending over eight kilometres. This steep-dipping shear zone straddles along the northern edge of the Ndablama granitoid. Reconnaissance work along this shear corridor has outlined four gold targets for follow-up drill programs.
Commenting on the latest Ndablama drilling results, David Reading, president and chief executive officer of Aureus Mining, said: "The phase four drilling program continues to return excellent results. We believe that the Ndablama target is part of a new goldfield which can be traced for over 13 kilometres around a granite body and to date only 15 per cent of this area has been drill tested. The company now looks forward to developing an upgraded resource during the next quarter."
Ndablama background
The Ndablama gold target is located within the Northern block of the company's 457-square-kilometre, 100-per-cent-owned, Bea Mountain mining licence in Liberia, and is situated approximately 40 kilometres northeast of Aureus's flagship New Liberty gold project. To date a total of 115 diamond drill holes covering 21,322 metres, 39 RC infill holes totalling 5,828 metres and 63 trenches for 3,967 metres have been completed at the Ndablama gold target. Ndablama locates within a five-kilometre gold-bearing pressure shadow zone which is defined by a shallow, westerly dipping shear zone locating near the contact between granite and greenstone rocks. Geological mapping and trenching have now been undertaken over the whole pressure shadow zone.
Gold mineralization is located within a sheared package of intercalated ultramafic and mafic rocks which are enveloped by a gneissic sequence and overly a granite batholith. The mineralization has a shallow westerly dip of 30 degrees or less and strikes to the north. It has been drill investigated to a maximal vertical depth of 240 metres below surface. It remains open along strike and downdip. The phase four diamond drill program that started in November, 2013, was completed in early August, 2014, for a total of 61 holes totalling 13,000 metres. The results for the remaining 24 holes (NDD092 to NDD115) are presented in the associated table.
DRILL RESULTS
Borehole ID From (m) To (m) Length (m) Au (g/t)
NDD092 126 130 4 1.0
NDD093 178 184 6 0.6
NDD094 35 43 8 0.7
and 52 54 2 1.1
NDD095A 140 143 3 0.8
and 154 158 4 1.1
NDD096 94 111 17 1.2
incl. 97 107 10 1.9
NDD097 59 70 11 1.0
NDD098 114 125 11 0.8
incl. 114 118 4 1.2
and 132 134 2 1.5
NDD099 94 101 7 1.0
and 110 115 5 1.9
NDD100 138 142 4 1.1
and 186 191 5 1.0
NDD101 130 143 13 1.0
and 151 153 2 2.4
NDD102 54 120 66 1.2
incl. 56 60 4 2.0
incl. 95 119 24 2.3
NDD103 98 141 43 1.7
incl. 123 141 18 3.3
NDD105 121 126 5 0.8
and 136 139 3 1.0
and 154 158 4 1.1
and 166 168 2 1.2
NDD106 78 113 35 1.2
incl. 80 86 6 2.4
incl. 105 113 8 2.0
and 154 155 1 4.9
NDD107 31 34 3 1.2
and 64 77 13 1.0
and 93 100 7 2.6
NDD108 79 102 23 1.0
incl. 79 81 2 8.8
incl. 100 102 2 2.4
NDD109 88 134 46 1.7
incl. 88 112 24 2.8
NDD110 98 120 22 3.0
NDD111 53 74 21 0.5
incl. 56 58 2 1.0
incl. 66 69 3 1.0
NDD112 39.3 46.8 7.5 0.7
and 57 61 4 0.7
NDD113 94 97 3 1.4
and 121 124 3 1.1
NDD114 139 167 28 3.0
NDD115 113 116 3 0.7
and 143 148 5 0.8
NDD104: abandoned hole.
Drilling has shown that mineralization is associated with phlogopite, silica, chlorite alteration and disseminated pyrrhotite. Detailed examination of cores consistently shows the presence of coarse gold. Initial metallurgical testwork results which were announced on Dec. 10, 2013, returned an average of plus-70-per-cent gravity recovery from the fresh ore, which will have a positive impact on the plant design.
Of the 24 diamond drill holes reported in this release, 15 holes tested the downdip continuation of the orebody. These drill holes returned good mineralization within the main part of the orebody. The maiden inferred resource of 451,000 at 2.1 g/t, as reported on Nov. 11, 2013, was based on only 250 metres of downdip mineralization, while the phase four diamond holes have extended it by an additional 300 metres. The current maximal vertical depth that the mineralized zone has been intercepted is now 240 metres below surface. Two holes (NDDH092 and 93) tested the immediate northern extension of Ndablama and confirmed further mineralization continuity. Three holes (NDD111 to 113) testing the southern extension extended the mineralization by an additional 100 m toward Leopard Rock. The results of the remaining 25 holes of the infill RC program are presented in the associated table.
DRILL RESULTS
Borehole ID From (m) To (m) Length (m) Au (g/t)
NDRC015 170 202 32 1.0
incl. 185 196 11 2.3
NDRC016 170 198 28 1.1
incl. 183 192 9 2.9
NDRC017 163 176 13 1.0
and 192 198 6 2.5
NDRC018 135 138 3 1.5
and 166 169 3 1.3
NDRC019 114 123 9 0.6
and 148 155 7 0.6
NDRC020 93 140 47 0.7
incl. 98 105 7 1.2
incl. 110 115 5 1.0
incl. 126 133 7 1.6
NDRC021 85 98 13 0.9
NDRC022 88 110 22 0.8
incl. 100 109 9 1.0
NDRC023 52 126 74 1.3
incl. 71 93 22 2.4
incl. 98 106 8 2.1
incl. 119 122 3 2.8
NDRC024 32 93 61 1.3
incl. 38 59 21 2.5
incl. 73 80 7 2.2
NDRC025 81 93 12 0.6
and 102 119 17 1.2
and 138 143 5 1.6
NDRC026 87 119 32 1.3
incl. 103 119 16 2.2
NDRC029 0 23 23 2.9
incl. 0 8 8 7.3
NDRC030 5 17 12 0.8
incl. 5 9 4 1.3
incl. 13 16 3 1.0
NDRC032 45 65 20 1.1
incl. 45 50 5 2.5
and 94 101 7 1.1
NDRC033 85 130 45 6.2
incl. 111 127 16 15.5
NDRC034 5 22 17 1.5
incl. 5 11 6 2.0
incl. 17 22 5 2.4
NDRC035 5 9 4 1.7
NDRC036 8 13 5 0.9
NDRC037 65 67 2 1.1
and 70 72 2 1.5
and 75 81 6 1.2
NDRC038 55 71 16 1.3
and 86 100 14 0.5
NDRC039 100 107 7 1.2
NDRC027: abandoned hole due to ground conditions.
NDRC028: NSR
NDRC031: not reported due to poor recovery from the
oxide mineralized zone.
The results of the final 25 infill holes confirm the continuity of mineralization within the already defined orebody. This program undertaken between May and July, 2014, was designed to close the drill spacing down to 50 metres from Ndablama's central portion in prevision of upgrading the resource confidence in early fourth quarter 2014. The bulk of the infill holes targeted a 400-metre north-south strike length by a 350-metre downdip length (maximal depth is 150 metres). The infill program is now complete for a total of 39 holes and approximately 5,828 metres. Now that all the results for the phase four drilling program are received, the company is undertaking a new NI 43-101 resource estimate for Ndablama, due for completion in fourth quarter 2014. Metallurgical studies are currently been conducted on the Ndablama deposit following initial studies undertaken in 2013 which highlighted 70-per-cent gravity recovery and 94-per-cent leach recovery for fresh ore (see press release of Dec. 10, 2013).
Ndablama is situated within a five-kilometre pressure shadow corridor and is an area of extensive artisanal gold activity.
The Ndablama gold project is part of a 13-kilometre mineralized corridor, of which five kilometres is represented by a shallow shear pressure shadow zone and the eight other forms part of a steeper shear system, referred as to the Yambesei shear zone. The Ndablama gold project locates within the five-kilometre pressure shadow zone which is characterized by a mineralized structural zone which dips shallowly to the west and occurs close to the altered and sheared geological contact between metavolcanic rocks (ultramafic and mafic units) and the Ndablama granitoid. The pressure shadow zone extends from Ndablama North to Leopard Rock South and covers a distance of five kilometres. It is associated with extensive bedrock and alluvial artisanal gold mining. To date only 40 per cent of the pressure shadow zone has been drill tested.
Extensive geological mapping has now completed over the whole pressure shadow zone. At Leopard Rock South where a 400-metre-long mineralized zone was previously defined through trenching (press release of July 10, 2014), new soil anomalies resulting from additional infill soil sampling have extended the mineralization trace for an additional 200 m toward the southwest. This is further confirmed by rock sample results returning grades up to 1.9 g/t Au. The previously reported trench results from Leopard Rock South include eight metres at 1.2 g/t, 10 metres at 1.3 g/t, 11 metres at 1.6 g/t and seven metres at 2.3 g/t. At Ndablama Far North, the best trench results that have been previously reported include 14 m at 1.1 g/t and seven m at 1.8 g/t. Within the pressure shadow zone, Leopard Rock South and Ndablama Far North now represent targets ready to be drill tested while the remaining of the mineralization system needs further follow-up work.
Within the Yambesei shear zone regolith mapping shows that a number of soil anomalies remain untested. A pitting program undertaken in the Gondoja-Welinkua area has led to the discovery of two new mineralized zones. The first zone extends over 600 m and runs parallel to the Gondoja existing mineralized zone. It is controlled by a northeast structure developed between amphibolites and ultramafics. The second zone is located at Welinkua and strikes over more than 300 m along a contact between amphibolites and a granitoid. Pits in both locations returned grades up to 1.6 g/t. The pitting program will continue testing other soil anomalies along the corridor while existing targets will be reviewed and be subject to follow-up work. Gondoja target is currently the most advanced target with historic best trench and drill results having returned respectively seven m at 13.1 g/t and 30 m at 3.9 g/t. Best trench results at Gbalidee and Koinja are, respectively, 22 m at 3.4 g/t and six m at 2.2 g/t. The existing targets and potentially new targets will be prioritized for next phases of reconnaissance drilling.
Sampling and QA/QC (quality assurance/quality control)
Drill core is split on-site and RC samples are split at the rig with a three-tier splitter. Samples are despatched under custody to the SGS Laboratory in in Monrovia and Tarkwa (Ghana). All samples collected by Aureus are analyzed using aqua regia digestion and 50-gram fire assay analysis with an atomic absorption finish. Assays with grades above five g/t are systematically assayed with a gravimetric finish. Assay quality control protocols include the submission of commercial certified reference standards, blanks, field duplicates, pulp duplicates and umpire control samples. Standards are inserted into the sample stream at a frequency of one in 10. All other quality control samples are submitted at a frequency of one in 20. Assay quality control samples are reviewed on a monthly basis. Aureus also submits samples for screened fire assay analysis.
Qualified persons
The company's qualified person for exploration results is David Reading, who holds an MSc in economic geology from University of Waterloo, Canada, and is a fellow of the Institute of Materials, Minerals and Mining. Mr. Reading is the president and chief executive officer of Aureus Mining and consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears and confirms that this information is accurate and not false or misleading.
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