The drill-indicated resource outlined by Ambrex Mining (AMBX-C) at the Aripuana property in the northwestern portion of Brazil’s Mato Grosso state now stands at 2 million tonnes grading 10.7% zinc, 2% lead and 87.5 grams silver per tonne, with a potential size of 10 million tonnes.
The grades represent a gross metal value of US$160 per tonne, and Ambrex has calculated that the net smelter return (NSR) would be US$70 per tonne.
The company is earning a 49% interest in the property from Ourominas Minerals (OMI-T), and the work is partly bankrolled by
St. Genevieve Resources (SGV-T), which is earning 21%.
The resource that has been defined, known as the Valley deposit, has a strike length of 225 metres and has been drill-Tested to a depth of 300 metres.
Ambrex’s interpretation of its magnetic and induced-polarization surveys indicates a minimum depth extent of 600 metres. Geophysical anomalies and zones of metal enrichment in residual soils extend along a strike length of 3.1 km.
Along that strike length, another mineralized zone has been drilled on the North Ridge, where one hole intersected 5% copper and 1.6 grams gold per tonne. Copper grades typically have been in the 1% range, accompanied by lead and zinc values as well as gold concentrations of 1-2 grams per tonne.
More geophysical results are being compiled and interpreted, and drilling will be carried out along strike to the east, and at depth.
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