Aguia Resources Ltd. on March 18 outlined a maiden inferred JORC-compliant resource estimate for the Andrade copper deposit, part of the Primavera project in Brazil, of 10.8 million tonnes grading 0.56% copper and 2.56 g/t silver.
Contained metal was estimated at 132.5 million pounds of copper and 891,000 ounces of silver.
The maiden estimate is based on results from 38 historical diamond drillholes between 2009 and 2010 and a due diligence drilling campaign carried out from January to February.
The company will conduct future drilling programs to expand the resource estimate.
The Australia- and Canada-listed explorer secured an option to acquire the Primavera project from Referencial Geologia Ltda.