Rio Grande Copper Belt

Rio Grande Copper Belt

Highlights

  • Aguia has staked 52 tenements and acquired 8 for a total of 86,187 hectares within the prolific Rio Grande Copper Belt
  • Recent acquisition of Primavera Poject claims, including Andrade copper occurrence
  • Mineralization is hosted in a 100km long x 60km wide belt with historical production from Iron Oxide Copper Gold (IOCG) deposits
  • Geological environment is highly prospective and includes the past producing Camaqua copper mine and a new Zn-Pb project currently being licensed by Nexa Resources (Votorantim Group)

Regional geological map of the Rio Grande Copper Belt, highlighting the distribution of Aguia’s Claims with Canhada target to the southwest of the belt and the Big Ranch Target to the northwest.

 

Andrade Copper Project

  • Option agreement signed to acquire Primavera Project claims, including Andrade copper occurrence from Referencial Geologia
  • Returned interval of 28.77 metres grading 1.83% copper from 63.63 metres with a higher grade zone of 19.39 metres grading 2.55% copper from 63.63 metres including:
    • 4.35 metres grading 3.57% copper from 65.80 metres
    • 2.25 metres grading 5.40% copper from 76.50 metres
  • Total Inferred Mineral Resource 10.8 million tonnes with average grade of 0.567% Cu and 2.56 g/t Ag including:
    • Open pit-constrained inferred resource of 1.3 million tonnes of oxidized material from surface grading 0.43% Cu
    • 8.8 million tonnes of sulphide-bearing material grading 0.51% Cu
    • 675,000 tonnes of sulphide-bearing material amenable for underground mining grading 1.42% Cu
  • Intend to add to Maiden Mineral Resource with more drilling
  • Have identified at least four panels over an 8km strike

 

Mineralised intercepts at Andrade

Mineralisation occurs along the contact between metavolcanics rocks at the footwall and younger sedimentary rocks on the hanging wall, defining a prospective trend of some 3.8 km between Andrade and Primavera.

Andrade Cross Sections

Andrade drill holes AND-19-001 and AND-19-002

Andrade drill hole AND-19-003

 

Regional geological map of the Rio Grande Copper Belt, highlighting the distribution of Aguia’s Claims with Canhada target to the southwest of the belt and the Big Ranch Target to the northwest.

Big Ranch

  • Located along northern edge of Caçapava Granite – the target is characterized by significant copper-and-gold-in-soils anomalies as well as anomalous zinc and lead
  • 2,224 metre diamond drilling identified 6km x 2km zone of mineralisation including zinc, copper and precious metals
  • Mineralisation encountered in 7 of 11 holes drilled – high grade samples intersected over thin intervals
  • Next stage of exploration to continue vectoring using data gathered; identify and rank structural and chemical trap zones that favour concentration of sulfide mineralisation

The Big Ranch target is located along the northern edge of the Caçapava Granite and consists of an 6-km-long by 2-km-wide alteration zone where multiple zinc and copper showings have been identified including multiple outcrops of gossans within a mineralised and alteration aureole along the northern margin of the intrusion . Further mapping and rock sampling along this zone has identified multiple gossan occurrences that define a corridor extending at least 3 km in length along the northern margin of the granite. Wide spaced reconnaissance soil lines returned a continuous copper anomaly in excess of 6 km in length and up to 2 km wide. Aguia is now completing detailed soil sampling lines to follow up on the gold-rich gossan occurrences and a ground geophysical survey to identify detailed drilling targets within these broad geochemical anomalies.

Canhada

  • Located 20km south of Lavras do Sul, where Aguia has its field office
  • 9km long x 3km wide structurally controlled trend, within which a 2km x 1km copper-in-soil anomaly with multiple copper occurrences identified in bedrock (remains open to the northeast)
  • Soil sampling underway to be followed up by ground geophysics and scout drilling
  • High grade copper mineralisation identified in outcrops

The Canhada target is located 20 km south of the City of Lavras do Sul, where Aguia has its field office, and consists of a 9-km-long by 3-km wide structurally-controlled trend within which a 2km x 1km airborne potassium anomaly (which remains open to the northeast) has been identified with an extensive coincident copper-in-soils anomaly in an area where multiple copper occurrences have been identified in bedrock by Aguia geologists. Mineralisation occurs as stockworks, veins and disseminated sulphides within the alteration zone. The potassium and associated hematite alteration is a characteristic of IOCG mineralised systems. The host sequence includes andesitic volcanic and pyroclastic rocks that have undergone intense hydrothermal alteration including albitization, cloritization, carbonate alteration and hematite alteration. Copper minerals are associated with potassic and hematitice alteration and include chalcopyrite, bornite, digenite and chalcocite, as well as malachite when weathered, typical of IOCG affinity mineralising systems. Soil sampling along this target will continue and in advance of a systematic exploration program that will include a ground induced polarization (“IP”) survey followed by a scout reverse circulation drilling campaign.

Copper in soil geochemical grid of the Canhada Target

Example of copper mineralisation at surface on the Canhada Target. Hydrothermally altered volcanic rock with malachite filling fractures in stockwork pattern.