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Additional Information

Market:	ASX
Sector:	Gold Mining
EPIC:	AQQ
Latest Price:	0.05 (0.00%)
52-week High:	0.12
52-week Low:	0.05
Market Cap:	9.81M

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Aphrodite Gold Full Aphrodite Gold profile here

Aphrodite Gold (ASX: AQQ) aims to develop its flagship Aphrodite Gold Project, located 65 kilometres north of Kalgoorlie in Western Australia through to production. The Aphrodite Gold Project hosts a JORC Resource of 10.06 million tonnes averaging 3.19g/t gold for 1,033,000 ounces.

A Scoping Study on the project is due for completion in February 2012. A Feasibility Study will follow in 2012 with production targeted within 2 years.

Aphrodite Gold: A$3.8m in funds received to progress one million gold ounce project

Thursday, February 23, 2012 by John Phillips

Aphrodite Gold (ASX: AQQ) recently launched a capital raising program comprising of a 1:2 non-renounceable Share Entitlement Issue, which has been fully subscribed.

The outcome is 71.8 million shares will be issued at $0.053, raising A$3.8 million, which will boost oration, appraisal and development activities at the company's plus one million gold ounce Aphrodite Gold Project near Kalgoorlie.

Investors will be aware that during 2011 Aphrodite discovered some very promising gold intersections, which included the stunning 77 metres at 4.07 grams per tonne (g/t) gold from 139 metres, which included 13 metres at 11.06g/t gold at the Alpha lode.

The importance of the Alpha lode is that forms the eastern portion of the current Aphrodite gold resource area, with the current 1.03 million ounce total gold resource contained within the Alpha and Phi Lodes at the project.

Gold intersections were frequent for Aphrodite during 2011, with other highlights from the June quarter including 31 metres at 7.83g/t gold from 182 metres, including 10 metres at 18.80g/t gold.

The significance of the 2011 data is that drilling confirmed the presence of multiple, wide zones of gold mineralisation within the Alpha structure and within potentially open pit mine depths.

Updated JORC within weeks

Where the story becomes even more interesting for Aphrodite, is that the company is set to deliver a revised JORC Resource at the end of the March quarter 2012.

This update will include all of the 2011 drilling data, plus the entire 2010 program conducted by Aphrodite, plus additional information from previous tenement owners. Highlighting just how much information will be added to the estimate, there was close to 16,000 metres in 87 holes drilled across the Alpha and Phi Lodes during 2011.

The current full resource is; 10.06 million tonnes at 3.19g/t gold for 1.03 million ounces. This is comprised of an Indicated 3.67 million tonnes at 3.83g/t gold for 451,000 ounces and an Inferred 6.39 million tonnes at 2.83g/t gold for 582,000 ounces.

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