Auspex, Vestor size up Feitais massive sulphide

Partners Auspex Minerals (APJ-V) and International Vestor Resources (IVS-V) have released initial results from their surface drill program on the Feitais deposit in Aljustrel, Portugal.

To date, four holes have been completed. Massive sulphide intersections were hit in three of the holes. The first hole was deflected away from the plunging sulphide deposit and did not intersect it. Assays for the third and fourth holes have yet to be released.

The second hole, FS600-A, was designed to test a relatively undrilled area of the deposit. The hole hit 95 metres of massive sulphides followed by 33 metres of stockwork mineralization. Assay results from the massive sulphide portion returned 50.6 metres (true width) grading 0.3% copper, 1.5% lead and 5.5% zinc, as well as 60 grams silver and 0.9 gram gold per tonne, starting at a depth of 350.2 metres down-hole.

Included in this hole were three higher-grade intercepts. The first started at a down-hole depth of 350.2 metres and intersected 31.8 metres (true width 25.8 metres) averaging 0.2% copper, 2% lead, 7% zinc, 72.1 grams silver and 0.8 gram gold. The second intercept started at 394.2 metres down-hole and hit 5 metres (true width 4 metres) grading 0.5% copper, 2.6% lead, 10.3% zinc, 86.7 grams silver and 1.2 grams gold. The third started at a depth of 408 metres down-hole and intersected 4.6 metres (true width 3.8 metres) grading 0.4% copper, 1.3% lead, 6.3% zinc, 41.8 grams silver and 1.6 grams gold.

A 43.6-metre (true width) copper-rich zone was intersected at a depth of 424 metres down-hole. The zone was intersected in the lower portion of the massive sulphide body and continued into the footwall stockwork zone. Average grades ran 1.8% copper, 0.2% lead, 0.9% zinc, 14.7 grams silver and 0.4 gram gold. The intercept included a 9.7-metre interval (true width) grading 3% copper, 0.1% lead, 1% zinc, 21.1 grams silver and 1.2 grams gold starting at a depth of 466.2 metres down-hole.

The overall hole assayed 103.7 metres (true width) grading 0.9% copper, 0.9% lead, 3.3% zinc, 37.3 grams silver and 0.7 gram gold starting at a depth of 350.2 metres down-hole.

The deposit still remains open down- and up-plunge.

Auspex and International Vestor have budgeted $1.8 million this year on a program that will involve 6,000 metres of surface core drilling, metallurgical testing and environmental base-line data collection, as well as engineering studies on the deposits and mill facilities.

SRK Canada will conduct a feasibility study, while Rescan Engineering, Knight Piesold and Hallam Knight Piesold will be responsible for mill design modifications, surface hydrology and geotechnical and environmental studies, respectively.

Auspex and International Vestor each hold 37.5% of the Aljustrel mining concession. The Portugese state mining company Empresa de Desenvolvimento Minerio (EDM) holds the remaining interest through its majority-owned local operating company, Pirities Alentejanas.