Avenira (ASX:AEV) unlocks value at Jundee South Gold Project

by Scarlett S. Stock Market Analyst

Avenira Limited- (Sector: MINING)

Avenira Limited is a metals and mining company listed on the Australian Securities Exchange. It is primarily engaged in the exploration and development of Wonarah Phosphate Project located in the Northern Territory of Australia and the Baobab Phosphate Project in the Republic of Senegal, Africa.

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Avenira (ASX:AEV) unlocks value at Jundee South Gold Project

Avenira boasts of 720KM2 tenements in the prolific Yandal Greenstone Belt, with several major gold mines in the vicinity.
A recently concluded drilling campaign gave excellent intercept results, paving the way for further drilling campaigns on the project.
Avenira’s share price soared 12.5% Tuesday on the backdrop of the release of its corporate presentation.

WA-focussed gold explorer Avenira Limited (ASX:AEV) has shared its corporate presentation, outlining the major activities undertaken by Avenira to unlock the potential of the flagship, Jundee South Gold Project.

The Jundee South Gold Project is spread across an area of 720 square kilometres in the northern part of the well-established Yandal Greenstone Belt. Avenira has been holding the tenement permit since April 2020. Some of the major gold projects in the close vicinity of Jundee South includes the Northern Star Resources Limited’s (ASX:NST) Jundee (gold production of 7.8Moz of gold), Bronzewing (gold production of ~3Moz ), Ramone and Gaurdis, and Yandal Resources Limited’s (ASX:YRL) Flushing Meadows gold projects.

Latest Update: Avenira (ASX:AEV) acquires 2 Prospecting Licences at Jundee South

Jundee South and other major mines location (Image Source: Company update, 30 March 2021)

Avenira’s systematic exploration strategy at Jundee South

Avenira has adopted a modern approach for the geological interpretation of the substructure. The existing geological models were overly simple and could not be used to identify the controlling structures.

Avenira focussed on the re-interpretation of the aeromagnetic data and the drivers responsible for the gold mineralisation, which was observed in the neighbouring world-class gold mines. This led to the understanding of the complex geological model of the project, along with the associated lithologies and proximal intrusive activities.

Apart from analysing the historical RAB drill data, Avenira launched an aircore drilling program on the project to identify the gold targets.