AMECA Mining was established in Sri Lanka after identifying the Seruwila copper-magnetite deposit as having a high potential for gold.
Sri Lanka has a history of gold production in both ancient times (Acaravittigama) and during British rule (Ramboda). However, no new commercial reserve was known to exist and Sri Lanka's Geological Survey & Mines Bureau (http://www.gsmb.gov.lk) initially dismissed the possibility of a large gold deposit anywhere in the country.
Core Sample from Phase 1 drilling
Core Sample from Phase 2 drilling
Fire assays conducted on the BGRM's core samples clearly demonstrate the gold concentrations increasing as they approached AMECA's claim - with the highest reading coming from a sample taken approximately 500 metres from the southern boundary.
Given the geology, it is believed that higher concentrations (perhaps veins) lie at a deeper level. This is the current focus of AMECA's drilling program – which will reach a depth of 200 metres.
AMECA expects to report the fire assay results by August/September 2020.
- DELAYED TO 2021 due to COVID-19.