"This latest round of results confirms the grades we reported from the first four drill holes at FDN in April," stated CEO Patrick Anderson. "The hit ratio at this early stage in the drilling program on a new and blind target is exceptional."
In a press release this morning, Aurelian reported an intercept of 204.8 metres of gold averaging 8.4 grams per tonne (g/t) at the Fruta Del Norte (FDN) epithermal gold-silver discovery, part of the Condor project. This included 79.10 metres of 16.15 g/t gold.
In April, two of those first four holes returned significant grade intercepting 237.25 metres of 4.14 g/t gold and 60.25 metres of 3.42 g/t gold before that drill hole "had to be abandoned for technical reasons," said Anderson.
Today's results represent the ongoing drill program designed to test the geometry, continuity and grade of the buried epithermal gold-silver discovery at the FDN, according to the company.
The FDN target is interpreted as a low to intermediate sulphidation epithermal gold-silver system. Veins up to 6.05 metres (down hole length) have been intersected, the company said.
Anderson said Aurelian has traced the system over approximately 300 metres of strike length and it remains open to the north, south and west.
"The results show that the system is strengthening to the north and west," he added.
The recent drilling indicates the basin floor is relatively flat, sloping gently to the west before being dropped to an unknown depth by a steep westerly dipping, north-south fault, according to the release.
The company is seeking further drill rigs to add to the program at FDN and to continue exploration within the Condor Project properties, which consist of 38 mining concessions totaling approximately 95,000 hectares.
Share Price Activity
Just before midday, stock in the junior miner jumped C$4.96, or 70.55%, to hit $11.99 with more than 600,000 shares traded on the TSX Venture Exchange.
The current share price is trading at C$11.60.