Aguia Resources (ASX:AGR) has identified a new prospective copper target, called Cota, in the Rio Grande Copper Belt in Brazil.
Examined by Aguia, initial rock scout sampling has returned a maximum of 3.72% copper for the Cota target situated 35km from Rio Grande's Andrade Copper Project.
The company says this brings its portfolio in the Belt to 11 copper targets and one copper deposit, with is the Andrade copper project, which has a Indicated Copper Resource of 22.6 Mt at 0.43% copper, and 2.11g/t silver.
Shares of Aguia Resources closed up 9% today.