Auroch nears completion of third hole drilling in Land of the Giants
Crucially, the hole is now in the VSC (volcanic sedimentary complex) target sequence and has intersected sulphide-rich horizons with strong deformation, similar to the documented geological characteristics of Neves Corvo and other major VMS (volcanic massive sulphide) deposits within the Iberian Pyrite Belt (IBP).
The IBP is one of the world’s most significant mining districts, and is renowned for its poly-metallic (copper and zinc dominant) VMS deposits. It’s home to over 80 known deposits and resources totalling more than 1,700 million tons of mineralised ore.
The region has also been branded the Land of the Giants by AOU CEO Dr. Andrew Tunks, hosting three super-giant (Rio Tinto, Neves Corvo and Aljustrel) and ten giant deposits.
AOU’s Alcoutim project is located immediately along strike of Lundin Mining’s super-giant Neves Corvo deposit.
Although AOU is in its early stages of development and investors should seek professional financial advice if considering this stock for their portfolio.
The geology intersected in from ALFP003 strongly indicates the prospectivity of the current target. There is a significant correlation with the previous results from Billiton’s historic AC-1 hole, which is precisely what the company has been aiming for here.
Hole 3 is collared close to the historic Billiton (1986) AC-1 hole, which was abandoned at 1,063 metres in sulphide-rich black shales due to rig limitations, interpreted to be the strike extension of the host rock to mineralisation at Neves Corvo, which Auroch is targeting.
Drilling to date of Hole 3 has identified two major shear/fault zones at 531.50-533.70 metres and 556.75- 570.60 metres.
AOU expects to complete Hole 3 next week, with progress slightly delayed due to the Portuguese summer holiday. Full results from this promising drill hole will be reported shortly thereafter.
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
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.
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.