INITIAL SCOUT DRILLING AT BIG RANCH IDENTIFIES PERVASIVE SYSTEM OF SULPHIDE MINERALISATION

Highlights:

  • First pass scout drilling at Big Ranch defines a large system of sulphide mineralisation
  • High-grade samples intersected over thin intervals
  • Next stage of exploration being developed to continue vectoring program using data gathered to date
  • Três Estradas permitting process in final stages with community consultation in Lavras do Sul set for March 20, 2019

TORONTO, Canada, March 6, 2019 Aguia Resources Limited (ASX: AGR, TSXV: AGRL) (“Aguia” or the “Company”) is pleased to report on results from its recent 2,224 metre diamond drilling program at the Big Ranch copper prospect in southern Brazil.

As previously announced, the Company discovered a new zone of copper mineralisation on 23 tenements across 34,000 hectares on ground staked within the Rio Grande Copper Belt, in the State of Rio Grande do Sul, Brazil (Figure 1).

The Big Ranch target is located along the northern edge of the Caçapava Granite and consists of a 6 km-long zone that hosts significant copper and gold in soils anomalies. Anomalous trends of zinc and lead have also been mapped. These soil anomalies were followed-up using a combination of ground geophysical exploration methods, including Induced Polarization (IP) with gradient and dipole-dipole arrays, magnetics and radiometric surveys. By analyzing the data gathered from the ground geophysics, in combination with mapping, rock chip sampling and trench results, Aguia’s technical team identified a number of promising locations for exploratory drill holes.