ANDRADE COPPER PROJECT
Located in Rio Grande do Sul, the southernmost state of Brazil, Aguia’s Andrade Copper Project (Andrade) is a low capital expenditure (CAPEX) and lower operating expenditure (OPEX) metallic copper project that provides Aguia with a core copper project and fast track route into production. Aguia is aiming to have Andrade in production by Q4 2024.
PROJECT HIGHLIGHTS
18.03 MILLION TONNES
Indicated mineral resource of 18.03 million tonnes
JORC COMPLIANT
JORC Compliant
0.41% CU & 1.87 G/T AG
Average grade of 0.41% Cu and 1.87 g/t Ag
EXPANSION POTENTIAL
Resource upgrade with additional drilling
LICENSING
Simplified environmental licensing
HIGH SALES PRICE
Attractive sale price (A$10,900 per tonne)
MARCH 2020
DRILLING RESULTS
During March 2020, a diamond drilling program was completed that confirmed north and south extensions of the high-grade copper zone within the existing Andrade Mineral Resource area. Other than intercepting mineralisation, these results were encouraging as they further proved Aguia’s 3D modelling of a plunging high-grade zone to remain valid and correct.
Initial metallurgical test work is currently being undertaken to investigate the behaviour of the copper mineralisation to see if it is amenable to leaching. If so, there is confidence that Andrade could be a relatively low CAPEX, fast start-up copper sulphate heap leaching operation.