Aguia Resources discovers Cota copper prospect in underexplored southern Brazil
Aguia Resources now has 11 copper targets to follow up along Brazil’s Rio Grande copper belt, along with its Andrade copper project.
Brazilian-focused explorer Aguia Resources (ASX: AGR) has unearthed high-grade copper during an initial scout sampling program at the Cota prospect – bringing the company’s total targets in the country’s southern-most region to 11.
Copper exploration along Brazil’s Rio Grande copper belt identified Cota, which is 35km away from Aguia’s Andrade copper project.
Initial rock samples from Cota have returned up to 3.72% copper.
Aguia managing director Dr Fernando Tallarico said Cota brings all the company’s copper targets to 11, plus the Andrade project.
He said the discovery of Cota reinforces the “great potential” of the Rio Grande copper belt to host further discoveries.
“Although focused on advancing our copper pre-feasibility banking study for our Andrade copper project, we continue to advance our exploration program.”
Rio Grande copper belt
Aguia is carrying out exploration on tenements it acquired in late 2020 that lie across the Rio Grande Copper Belt.
Cota is the fourth target to be discovered since the tenements were acquired. The new prospect is 15km from previously identified Seival and Lagoa Parada targets.
According to Aguia, the Rio Grande has more than 100 copper occurrence registered in the Brazilian Geological Survey database.
The occurrences are hosted in a variety of volcanic and sedimentary rock types that have undergone hydrothermal alteration to develop veins, stringers, and sulphides that are usually associated with copper minerals and minor contents of silver and/or gold.
Proximity to historical copper mine
Rio Grande hosts the historical Camaqua copper mine, which was mined to depletion across the Uraguai and Sao Luiz orebodies.
This mine was operated between 1901 and 1996 and is 40km southeast of Andrade.
During its life, about 22.5 million tonnes of ore was mined grading 0.76% copper to produce 171,396t of copper metal.
It also generated 4.5t gold and 38t silver.
Mining was carried out via an open pit and underground.
Aguia noted that following the mine’s closure, it is the only company to undertake any major copper exploration across Brazil’s southern-most region.
The company’s land position in the Rio Grande belt now spans 1,550 square kilometres.