Aviva Corporation Limited - Initial Base Metal Mineral Resource Bumbo Project West Kenya
AVIVA CORPORATION LIMITED - INITIAL BASE METAL MINERAL RESOURCE BUMBO PROJECT WEST KENYA
Aviva Corporation Ltd (ASX:AVA, BSE:AVIVA) ("Aviva" or "the Company") is pleased to announce it has recently completed a maiden resource on the Bumbo Base Metal Deposit in West Kenya.
"The initial resource has exceeded our expectations in terms of tonnes and grade," said Mr Lindsay Reed, CEO of Aviva. "To delineate a resource within eight months of the commencement of drilling is a credit to our exploration team."
Aviva will combine the knowledge gained from drilling Bumbo and selected VTEM anomalies with the geophysical and geochemical signatures of those targets to plan the extension of its base metals drilling, soil sampling and geophysical surveys, with a view to expanding the base metals inventory in West Kenya.
Bumbo is a polymetallic deposit with Cu, Zn, Au and Ag as the primary metals. The mineralisation is characterised by a central layer of massive sulphides with adjacent more disseminated and inter-layered sulphides. The mineralisation is broadly conformable with the host metamorphosed sedimentary lithologies and has been likened to a vulcanogenic massive sulphide (VMS) style of mineralisation with significant hydrothermal overprint. The deposit is subdivided into two main lenses, each striking approximately east-west and dipping steeply to the north.
Highlights
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Bumbo Deposit estimated to contain an inferred mineral resource of 1.68Mt grading 4% Cu Equivalent – 1.8% Cu, 0.7g/t Au, 36.8g/t Ag and 5.4% Zn
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Modelling of peripheral gold mineralisation at Bumbo identified an exploration target of 450,000 to 700,000 tonnes grading between 1g/t and 1.5g/t Au
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Encouraging results from early VTEM anomaly drilling in the Bumbo base metals precinct including – 69m @ 0.6%Zn, 0.15% Cu and 4.2g/t Ag at VTEM
Independent Expert for the Resource
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.
The Optiro letter detailing the work completed in the calculation of the Mineral Resource estimate is appended to this announcement.