AVIVA CORPORATION LIMITED - 2011 ANNUAL REPORT TO SHAREHOLDERS
Aviva Corporation has released it's annual report for the year ended 30 June 2011.
It has been a busy and productive year in respect to the majority of their projects, while other projects were more challenging.
In September 2011, the Group announced a maiden resource for the Bumbo Base Metal Deposit in West Kenya. Bumbo is a polymetallic deposit with Cu, Zn, Au and Ag as the primary metals. The exploration history is reasonably extensive, with several phases of activity which have focussed largely on gold mineralisation and regional targets. Following completion of Aviva's recent exploration programme at the Bumbo prospect, Bumbo now has 44 diamond drill (DD) holes intersecting the zone of mineralisation. The resulting Mineral Resource estimates (Table 1) for the massive and disseminated sulphide domains have been assigned an Inferred Mineral Resource category according to the guidelines of the JORC Code (2004).1
Table 1 The Bumbo Mineral Resource statement as at 31 August 2011 using a 0.7% copper equivalent cut-off grade.
- Category Volume Tonnes Cu Equivalent Cu Au Ag Zn
- (Mm3) (Mt) (%) (%) (ppm) (ppm) (%)
- Inferred Mineral Resource 0.53 1.68 4.0 1.8 0.7 36.8 5.4
Importantly the peripheral gold mineralisation has been modelled, and is noted herein as an exploration target. An exploration target for the peripheral gold mineralisation has grades ranging from 1 g/t to 1.50 g/t for tonnages ranging from 450,000 to 700,000. It is possible that the gold mineralisation may contain other economic metals of interest, particularly silver.
Since the end of the financial year no other matters or circumstances have occurred that have or may significantly affect the operations or the state of affairs of the Consolidated Entity in subsequent financial years.
Bumbo Mineral Resource Estimate
The information in this report which relates to Mineral Resources is based upon information compiled by Ian Glacken, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Ian Glacken is an employee of Optiro Pty Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Ian Glacken consents to the inclusion in the report of a summary based upon his information in the form and context in which it appears.
For further information please see the entire 2011 Annual Report released by Aviva Corporation: HERE