11:40 AM EST, 12/09/2024 (MT Newswires) -- (Updates shares.)

Aura Minerals ( ORAAF ) reported overnight Sunday "encouraging" exploration and drilling results from its projects in Brazil.

At the Pe Quente project, the company said drilling confirmed historical high-grade gold intercepts. Highlights include 0.96 grams per tonne (g/t) gold over 132.00 meters, including 4.05 g/t gold over 3.00 meters and 4.00 g/t gold over 2.00 meters.

Aura said its drilling campaign at the Paiol deposit within the Almas mine confirmed the high-grade ore body's continuity at depth, supporting potential underground mining and adding ounces to the inferred resources below the current pit. Results include 1.40 g/t gold over 101.1 meters, including 4.20 g/t gold over 26.65 meters and 11.20 g/t gold over 7.00 meters.

At the Aura Carajas property, Aura said its inaugural drilling campaign between 2023 and 2024 confirmed multiple zones of mineralization, extending the strike to eight kilometers. Results include 0.95% copper over 11.0 meters, including 1.23% copper over 7.0 meters.

"Today's results once again underscore the success of our exploration strategy," chief executive Rodrigo Barbosa said. "The scale and grades we are uncovering across all three projects highlight the transformative potential of these initiatives, strengthening our capacity to achieve substantial reserve and resource growth in the coming years while maintaining a balanced exposure to both gold and copper."

Aura shares were last seen up $0.48 to $17.68 on the Toronto Stock Exchange.

Price: 17.69, Change: +0.49, Percent Change: +2.85