Aguia Resources Limited (ASX:AGR) Reports Progress at Santa Barbara Gold Project
Project Development Updates
Aguia Resources Limited (ASX: AGR) announced significant progress at its 100%-owned Santa Barbara Gold Project in Colombia. Underground development on the Mariana and Santa Barbara mineralised vein systems commenced in early December, with operations advancing smoothly. The commissioning of the processing plant continues, with development mineralisation already being fed into the facility.
Upcoming Processing Milestones
Preparations are underway for the first carbon strip, leading to an anticipated gold pour. The installation and commissioning of new thickener and agitator tanks are set to begin this month, alongside the delivery of a new Merrill Crowe precipitation system. These improvements aim to enhance the processing capacity to 50 tonnes per day (tpd) from the current minimum target of 30 tpd.
Strategic Focus on Gold Exploration
Warwick Grigor, Executive Chairman, remarked, “Installation of additional capital items will both improve the reliability of the processing plant and enable capacity expansion over the next few months.” The company is planning to commence drilling by the end of this quarter to explore and define the broader dimensions of the mineralised system.
Operational Achievements
A total of 25 tonnes of mineralised exploration material has been extracted and delivered to the pilot processing plant, with additional waste material also removed. The first mine stope is expected to be completed by the end of January 2025, with ongoing project development and exploration activities anticipated to provide continuous updates in the upcoming weeks.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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