Monday, 22nd September 2008 (337 views)

Aura Minerals has released results from a "very successful" drilling campaign at its Arapiraca project in north-east Brazil.

Additional exploration has been conducted into the Caboclo target, which was identified in the 1990s by a different company.

Over 80 per cent of holes drilled in the new programme encountered mineralisation.

Significant results included 0.06 g/t Au across 28.35 metres, 21 g/t Au across 20.59 metres and 0.14 g/t Au across 20.22 metres.

President and chief executive in office Patrick Downey remarked: "This follow-up drilling to the historical Vale drilling has both expanded the ongoing Caboclo targets and has intercepted completely new 'blind' targets."

He added that the site showed great potential for open-pit resources.

Meanwhile, Colossus Minerals has revealed that Patrick Anderson will join its board of directors after David D'Onofrio stepped down to pursue other interests.

It is hoped Mr Anderson's experience can contribute to the success of its numerous operations in Brazil.

 

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