Auroch commences hole three as it targets the Neves Corvo trend

By Trevor Hoey. Published at Aug 14, 2017, in Small Caps

Having completed its phase 1 drilling campaign at its Alcoutim copper zinc project located in Portugal, Auroch Minerals (ASX:AOU) commenced the third hole on August 8.

Management was encouraged by the fact that the second hole intersected targeted stratigraphy Volcanic Sedimentary Complex (VSC) at 830 metres.

Results released since then have provided further confidence with Chief Executive Doctor Andrew Tunks saying on Monday, “Initial results in from hole ALFP002 (the second hole) confirmed significant magnetic similarities with that of Foupana magnetic anomaly, which the company believes is a strong indication of the prospectivity of the ground we are currently exploring”.

Commenting on the current drilling of the third hole, Tunks said, “Drilling of hole 3 has commenced, and with the data gathered from old BHP Billiton drilling and our own data acquisition from drilling we look forward to continued positive results.”

The third hole, ALFP003 is collared close to historic hole AC-1 (drilled by Billiton in 1986) which was abandoned at just over 1000 metres in sulphide rich black shales, interpreted
to be equivalent to the host rock mineralisation at Neves Corvo (Figure 1).

Ex-Billiton staff confirmed in a recent meeting that the hole was abandoned due to the inability of the rig to drill any further. The drill core containing sulphide rich black shales from AC-1 has either been entirely sampled or lost.

Hole 3 will test several hundred metres along strike from the AC-1 drill intersection into the Neves Corvo position (sulphidic black shales), as well as continuing deeper to test for additional mineralised horizons, similar to other deposits on the Iberian Pyrite Belt.

The following map highlights the significance of the current drilling campaign in terms of targeting the Neves Corvo trend.

Alcoutim copper zinc project

From a share price perspective, AOU received strong support after announcing that it had intersected targeted stratigraphy with its shares increasing approximately 17% from 14.5 cents to 17 cents.

Of course, share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice.

This level was maintained until Friday of last week when a sell-off in the S&P/ASX 200 Materials index tended to have a broad-based effect on most mining stocks.

AOU closed at 15 cents on Friday, and has traded at that level on Monday morning, perhaps creating a buying opportunity.

View Our Investment Portfolios

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!