1km Long Copper Zone Grading up to 3% Discovered at Ti-Tree

Augustus Minerals Limited (ASX: AUG; Augustus or the Company) is pleased to announce the latest rock chip assays from the Companies Ti-Tree project.

Augustus Minerals has received new assays from ongoing field work and rock chip sampling programs conducted on the new Nero prospect at the Ti-Tree Project.

• High grade copper rock chips assaying up to 3.1% and up to 11g/t silver have been identified from field work over a strike length of 1.1km.
• The copper and silver mineralisation is hosted within malachite bearing quartz veins in dolerite and granite along a northeast trending zone of faults.

Mapping and field work is continuing to identify suitable drilling platforms for future programs to be conducted.

Figure 1 Prospects and VTEM Survey areas

New Nero Prospect

Mapping along structures 3.7km along strike northeast of Claudius (6.6% Cu, 86ppm Ag1) (Figure 1) has identified a new mineralised zone associated with quartz veining, malachite (secondary copper carbonate mineral) and iron oxide after weathered sulphide minerals.

Figure 2 Location of the new Nero Prospect in relation to the tenement geology and Claudius and Nero prospects

The new “Nero” zone, defined by 24 rock chips, has a strike length of 1.1km with copper grades up to 3.1% and silver grade up to 11g/t (figure 2).

The mineralised zone is comprised of multiple gossanous quartz veins which cut both the Moorarie Supersuite granites and later Mundine Well Dolerite dykes in a north to northeasterly direction (Figures 2 and 3). Often the quartz veins, which are up to 5m wide strike almost north-south, oblique to the northeasterly strike of the shear/fault zone. The mineralised veins are within the dolerite in the south of the prospect but trend to the east into the surrounding granite towards the north.

Copper was elevated over the entire length of the structural zone with 17 of the 24 samples assaying >0.1% Cu, and five samples >1% Cu with a maximum of 3.1% Cu from sample WA001357 (Figure 4). Along with elevated Cu assays, Nero contains silver to 11g/t and elevated levels of gold (0.10g/t Au in WA001336) (Table 1 and Table 2).

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