Drilling Comparisons ARU/EVGIf I remember correctly this was the News release that launched ARU into the spotlight. I believe it had followed a preliminary drill result. Much like the RSC-020 we just received. I thought it would be interesting to put the two together.
Hey it's slow around here tonight what can I say....
When they were taken over by Kinross there were about 120 million O/S. I think the price of gold was around $700 back then...but can't say for sure. Would welcome anyone with more information to make this comparison more accurate.
At the bottom is the takeout offer and valuation of ARU when Kinross offered.
Wolf
Aurelian Intersects 158.40 Metres Grading 25.21 g/t of Gold, 70.45 Metres Grading 9.15 g/t of Gold and 134.97 Metres Grading 5.61 g/t of Gold in Infill Drilling at FDN
12:09 EDT Tuesday, August 21, 2007
TORONTO, ONTARIO--(Marketwire - Aug. 21, 2007) - Aurelian Resources Inc. (TSX:ARU) today announced results from 10 additional drill holes from the buried epithermal gold-silver discovery at Fruta Del Norte (FDN) on its wholly-owned Condor Project in south-eastern Ecuador. These include 158.40 metres grading 25.21 g/t of gold ("Au") and 19.0 g/t of silver ("Ag") in infill hole CP-07-139 and 134.97 metres grading 5.61 g/t Au and 8.5 g/t Ag in drill hole CP-07-132, which has added significant mineralisation to section 9583400N. Also included was 70.45 metres grading 9.15 g/t Au and 26.0 g/t Ag in infill drill hole CP-07-134 on section 9583500N. At the eastern edge of the deposit on section 9582900N drill hole CP-07-129 assayed 236.50 metres grading 2.81 g/t Au and 10.2 g/t Ag.
"With the current resource definition drilling programme completed, our efforts to better define the northern and southern extents of FDN are now the priority for drilling at the deposit" says Patrick F.N. Anderson, Aurelian's President and CEO. "A drill rig is currently being mobilized to the Papaya target, 700-m north of FDN. This rig will drill a fence of holes across an area with anomalous copper-gold and gold-bearing float and outcrop. The Papaya target is interpreted to occur within the continuation of the Las Penas fault zone, the structure that hosts FDN. The NI 43-101 compliant mineral resource estimate is proceeding well, but will likely be delayed a number of weeks due to the late arrival of key assay data and additional work required to determine how best to incorporate some of the high grade assays in the FDN dataset".
Now EVG's
- Drill hole RSC-020 intersected 67.1 meters at 10.8 gpt Au, (220 ft at
0.315 oz/ton) including 36.6 meters at 16.8 gpt Au (120 ft at
0.492 oz/ton). The 36.6 meter interval also contains 12.2 meters at
39.3 gpt Au (40 ft at 1.147 oz/ton) and a single 1.5 meter
intersection of 155 gpt Au (5 ft at 4.526 oz/ton). The aggregate
composite inclusive of the halo gold mineralization is 185.5 meters
at 4.29 gpt Au (610 ft at 0.125 oz/ton).
- The drill results in RSC-020 represent a major extension of the North
Stock high grade gold mineralization at Rattlesnake. The collar of
RSC-020 is approximately 145 meters southwest of RSC-007 (131.1
meters at 2.84 gpt Au, (430 ft at 0.083 oz/ton)) and 210 meters
southwest of RSC-003 (146.3 meters at 2.92 gpt Au (480 ft at
0.085 oz/ton)), which were drilled in 2008. The known strike of the
high grade gold zone is 210 meters. Drilling is currently following
this zone along strike and down dip.
- Drilling in 2008 (15 core holes) indicated a body of mineralization
at North Stock approximately 450 meters along strike, 200 meters
wide, and with a depth of at least 550 meters. Over 40 percent of all
assays within this body were above cutoff (0.25 gpt Au). The average
grade of mineralized intersections above a cutoff of 0.25 gpt Au is
0.96 gpt Au (excluding drill holes RSC-17, RSC-18 and RSC-20).
- The drill results from drill holes RSC-017 and RSC-018 continue to
confirm the presence of an extensive zone of bulk tonnage halo gold
mineralization at North Stock which contains intervals of higher
grades. Drill holes RSC-017 intersected 137.2 meters at 0.87 gpt Au
(450 ft at 0.025 oz/ton) and RSC-018 intersected 48.8 meters at
0.99 gpt Au (160 ft at 0.029 oz/ton), 54.9 meters at 0.81 gpt Au
(180 ft at 0.024 oz/ton) and 120.4 meters at 0.61 gpt Au (395 ft at
0.018 oz/ton).
- Assays from drill hole RSC-016 in Antelope Basin, approximately 725
meters south of North Stock, also confirms long intervals of bulk
tonnage halo gold mineralization (61.5 meters at 0.40 gpt Au (202 ft
at 0.012 oz/ton), 79.2 meters at 0.85 gpt Au (260 ft at
0.025 oz/ton)).
- Geophysical survey results (CSAMT) strongly support a large body of
mineralization extending from North Stock for approximately one
kilometer to the south through Antelope Basin and further to South
Stock. Drilling in 2009 will test the continuity of mineralization
along this trend.
- Metallurgical studies are underway with initial results expected to
be released within the next two months, and an external scoping study
and preliminary resource estimate is pending for Q-1 in 2010.
- North Stock is one of at least ten known alkalic intrusive and
diatreme centers on the Evolving Gold property. Drilling in 2009 will
focus on the North Stock. Preliminary drilling will test Antelope
Basin and South Stock. Evolving Gold will complete mapping and
sampling over other promising targets this year. Evolving currently
holds 3,008 ha (7,433 acres) of federal lode claims and leases from
the State of Wyoming including recent additions to the land holdings
at Rattlesnake.
- The high grade results from RSC-020 will be confirmed by a program of
metallic screen fire assay.