18 October 2016

The Company Announcements Office Australian Securities Exchange Limited Exploration and Resource Drilling Update Key Points
  • Resource infill drill hole APD1326 intersected 49.7m @ 2.0g/t gold from 54m within the transition zone
  • Metallurgical drill hole APDM0002 intersected 21m @ 2.2g/t gold from 76m also within the transition zone
  • Exploration drill hole APRD1325, located 300m north of the Aphrodite resource, intersected 23m @ 1.3g/t gold from 329m, and is suggesting that mineralisation is increasing in thickness with depth
  • Strategic drill hole intersections within the February 2016 Entech optimised open pit outline are either greater than or in line with the modelled resource grade of 1.6g/t gold.
  • Total metres of drilling completed to date 3234.9m

Aphrodite Gold Limited ("Aphrodite" or "the company") wishes to provide a further update to their Pre-feasibility drill program. The board and management are greatly encouraged by the results to date. The drilling program continues to achieve core recovery > 95% thus providing reliable samples for assay and metallurgical testwork with particular emphasis on the oxide and transition zones of mineralisation. Previous metallurgical testwork indicated that acceptable metallurgical recoveries could be achieved by conventional CIL/CIP processing of the oxide/transition zone mineralisation.

1 Exploration Drilling

Exploration drill hole APRD1325 intersected 23m @ 1.3g/t gold from 329m confirming the results from SCRC387D drilled in 1999, extending the mineralisation at depth by 30 metres and suggesting that the mineralisation is increasing in thickness with depth.(Figure 1)

The above intersection included higher grade zones of 5m @ 3.6g/t gold from 329 and 2m @4.5 g/t gold from 413m.

The sulphide associated gold mineralisation is hosted by highly altered Black Flag Group sediments at the contact with the mafic volcanic to the west. The alteration zone within the Black Flag group extends for 300m above the contact.

Figure 1- APRD1325 Cross Section 2 Resource Drilling

The focus of the resource drilling is on the oxide and transition zones within the modelled resource and February 2016 Entech optimised open pit. Some drill holes are extending into the gold bearing primary sulphide mineralisation to provide confirmation of earlier reverse circulation drilling results.

Significant transition zone mineralisation was intersected in APD1326 of 49.7m @ 2.2 g/t gold from 54m including 10m @ 4.2 g/t gold from 61m and 5.2m @ 6.6 g/t gold from 98.5m. See figure 2.

The exploration, resource infill and metallurgical drill hole intersections received to date are summarised in table 1.

Figure 2- APD1326 Cross Section Metallurgical Drilling

Three metallurgical drill holes have been completed to date and intersected the oxide/transition and primary sulphide mineralisation zones as expected. The results for APDM0001 and APDM0002 are shown in Table 1.

Drill hole APDM0002, intersected within the transition zone 21m @ 2.2g/t gold from 76m including 2m from 4.9 g/t gold from 76m and 6.3m @ 5.1 g/t gold from 85.7m. See figure 3. Figure 3- APDM0002 Cross section 4

Aphrodite Gold Limited published this content on 18 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 18 October 2016 00:03:01 UTC.

Original documenthttp://clients.weblink.com.au/clients/aphroditegold/article.asp?asx=AQQ&view=6794701

Public permalinkhttp://www.publicnow.com/view/6225D319A74BE2CC6E9F614ED0614E50B0F07013