AMECA is a gold exploration company. The company was drawn to 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.
Analysis of AMECA's initial drilling indicated the presence of gold. In fact, XRF testing revealed an average gold concentration of 7 g/tonne. XRF (X-ray fluorescence) is a non-destructive analytical technique used to determine the elemental composition of materials including gold and platinum
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.
Comparison of Results from Aquaragia Digestion with Fire Assay Testing
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.