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Aboriginal Heritage Survey Completed Opening Path To Maiden Drilling Program
Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to advise that it has completed an Aboriginal Heritage survey with the Yinggarda, Baiyungu & Thalanyji combined claimant group that speak for approximately 70% of the Augustus Minerals tenure of 3,600km2.
- Aboriginal Heritage Survey successfully completed with the Yinggarda, Baiyungu and Thalanyji combined claimant group.
- Key target areas of Minnie Springs, Copper Ridge, Nick’s Bore, Crawford, Crawford South and COO Creek are cleared for exploration activities to commence.
- Mobilisation of front-end loader for drill pad preparation on track for this week.
- Drilling to commence during the month of September.
- Further Aboriginal Heritage Surveys with additional claimant groups scheduled for October.
The areas surveyed cover the main mineralised portions of the 8km x 3km long Crawford prospect containing widespread Copper and Gold anomalism.
Figure 1. Location of Crawford copper-gold prospects intersecting the Ti Tree Shear and Money Intrusion.
The large 3km long Copper anomaly at Minnie Springs adjacent to the Minga Bar fault will also be prepared ready for drilling in the coming weeks.
Figure 2. The 3km long Minnie Springs Copper – Molybdenum - Gold anomaly.
The survey, which comprised both an archaeological field survey and ethnographic consultation with authoritative knowledge holders, assessed as having no Aboriginal artefacts or cultural heritage concerns, which ground disturbing drilling activities would impact.
Next Steps to include;
- Mobilisation of a front-end loader during the coming week will allow drill pad preparation activities to commence;
- A drilling contractor has been selected and will also mobilise during September;
- It is expected that all the prospects cleared for Heritage will be systematically drilled and analysed over the next several months of the drilling campaign;
- Field mapping and rock chip sampling for further target generation work continue with extensive on the ground activities being conducted in parallel to Heritage Surveys and drilling activities; and
- Further Heritage Surveys will be conducted during October as the Augustus Minerals tenure of 3,600km2 covers four (4) Aboriginal claimant groups with additionally prospects requiring clearing.
Andrew Reid, Managing Director
“Augustus Minerals would like to thank all the Traditional Owners who participated in the Heritage Surveys over the last several weeks. A big thank you to Tarn Wiley from the Gumala Aboriginal Corporation for her tireless work in organising, executing and participating in the survey.
Getting Heritage clearance is a huge step forward and a legal requirement before conducting any ground disturbing activities.
Augustus Minerals committed to drilling activities inside Q3 of 2023, and we are pleased to be able to get on the ground now and start drill testing our high priority targets over the coming months."
Click here for the full ASX Release
This article includes content from Augustus Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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Augustus Minerals
Diversification can be key to a profitable mining and exploration strategy. While there's no shortage of companies that have experienced great success by focusing on a single commodity, there's always an element of risk to that approach. There is always the risk that certain commodities will fall in price whilst others rise. Augustus Minerals, a newly listed exploration company on the ASX (AUG) is cognizant of this fact. An exploration company based in Western Australia, Augustus has acquired a 100-percent interest in a land package covering some 3,600 square kilometers in Western Australia's Upper Gascoyne region. Although traditionally known as a source of base metals, gold and uranium, the Gascoyne is rapidly emerging as a prime target for rare earths and lithium discoveries.
As an early mover to the region, Augustus’s vast landholding is highly prospective for lithium, rare earths, copper and gold. Its Ti-Tree project contains 85 kilometers of the Ti Tree and Mingabar shear zones, with extensive, untested, multi-element mineralization and surface anomalies.
The Gascoyne region is a large emerging critical mineral province with several deposits having been discovered in the last few years. These include multiple Ironstone REE discoveries by Dreadnought Resources (ASX:DRE), Hastings Technology's (ASX:HAS) Yangibana Ironstone REE project and Lanthanein Resources' (ASX:LNR) Lyons Ironstone REE project, as well as a large lithium discovery at Delta Lithium's (ASX:DLT) Yinnetharra location.
Directed by a highly experienced management team with extensive knowledge about mining and exploration in the Gascoyne, Augustus's exploration program will focus on more than 50 priority targets already identified by the company. These include potential lithium bearing pegmatites, REE-rich ironstones and shear/porphyry-hosted copper systems. Thus far, the company has completed multiple geophysical surveys and collected more than 15,000 soil samples.
Company Highlights
- Augustus Minerals is an Australian exploration company focused on the highly-prospective Gascoyne region of Western Australia.
- The company has 100 percent ownership of a land package covering 3,600 square kilometers.
- Augustus has identified multiple high-priority lithium, rare earth and copper targets throughout its project, with strong mineralization intersected at multiple locations across multiple commodities.
- Augustus's leadership team has the benefit of significant local knowledge regarding exploration of the Gascoyne province.
Key Asset
Ti Tree Project
Situated in the Shire of Upper Gascoyne and the Shire of Carnarvon, the Ti Tree project displays significant exploration potential for a number of different mineralised styles as well as possibly, multi-commodity discoveries. Spanning a contiguous 3,600 square kilometers, it also has the distinction of being one of the largest properties in the region. Augustus Minerals maintains 100 percent ownership over Ti-Tree, which intersects along the shear of the same name.
The company has identified several high-priority drilling targets along the Ti-Tree and Mingabar structures ready for reverse circulation, diamond or air core drilling.
Highlights:
- Emerging Geological Province: The Gascoyne region displays highly prospective geology and has been the site of multiple rare earth and lithium discoveries in recent years, but has experienced limited historic exploration — making it a prime opportunity for Augustus Minerals.
- Multiple Commodities: Augustus has identified more than 50 significant lithium, rare earth and copper targets. Many of these high-quality targets are ready for drilling.
- Size and Speed: The Ti Tree Project consists of a single coherent block of tenements covering 3,600 square kilometers with 85 kilometers of strike along the Ti-Tree Shear. As an early mover in the region, Augustus was able to gain a considerable advantage in securing this project, into which it has thus far invested $5 million.
- Fertile Geology: Augustus's investment displays the same geology as multiple highly successful neighboring discoveries.
- Mineralization: Current mineral resource targets include:
- 27 rare earth targets across 65 kilometers of strike. All targets display strong thorium radiometric signatures.
- Multiple mafic intrusions with copper-nickel-PGE (platinum group elements) mineralization. The copper resource is both shear-hosted and porphyry-related.
- Elevated lithium stream samples over 10 kilometers of strike length. The target area displays the same geological host rock as the Yinnetharra lithium discovery.
- A narrow, shear vein-hosted gold occurrence with anomalous mineralization displayed in several surrounding areas. The area, known as the Bassit Bore, outcrops at the surface, where visible gold is readily identifiable in hand specimens. Samples collected over 600 meters returned very high gold values.
Management Team
Andrew Ford – General Manager, Exploration
Andrew’s career spans 35 years of exploration and mine development experience in multiple commodities for both majors, including Homestake and Barrick Gold, and junior ASX-listed companies. He has led technical teams throughout Australia, Africa, USA, Europe and Asia, including leading the geology team at the Bawdwin base metals project in Myanmar through the DFS process.
In his most recent role Andrew has led the geology team at Hastings Technology Metals with a focus on resource growth and exploration at the Yangibana Rare Earths Project, where Mineral Resources have now grown to 29.93Mt of TREO.
Brian Rodan - Executive Chairman
Brian Rodan is a fellow of the Australian Institute of Mining and Metallurgy with 45 years’ experience. Previously, he was the managing director and owner of Australian Contract Mining (ACM), a mid-tier mining contracting company that successfully completed $1.5 billion worth of work over a 20-year period.
For 15 years, Rodan held various roles with Eltin Limited (including general manager between 1993 and 1996 and executive director between 1996 and 1999), Australia’s largest full service ASX-listed contract mining company with an annual turnover of $850 million. He was a founding director of Dacian Gold (2013) and Desert Metals (2020) and became the largest shareholder upon listing both companies on the ASX.
Rodan is currently executive chairman of Siren Gold and Iceni Gold Limited, and is currently the largest shareholder in both companies as well as Augustus Minerals.
Graeme Smith - Non-Executive Director
Graeme Smith is an experienced resources sector chief financial officer, company secretary and corporate executive who has worked with mining and exploration companies with operations in Australia (Croesus Mining NL, Genesis Minerals Limited, Jabiru Metals Limited, Breaker Resources NL, Pluton Resources Limited) and overseas (Tanga Resources Limited, Ikwezi Mining Limited) for the past 30 years.
He is the principal of Wembley Corporate Services, which provides company secretarial, CFO and corporate governance services to public companies.
Smith is a fellow of the Australian Society of Certified Practising Accountants, the Institute of Chartered Secretaries and Administrators, and the Governance Institute of Australia. He is currently the company secretary for Alto Metals, Avenira, Renegade Exploration and Enterprise Metals, and was a director of ASX-listed Anglo Australian Resources.
Darren Holden - Non-Executive Director
Dr. Darren Holden is a geologist with 28 years of industry experience in mineral exploration and exploration technologies. He has worked in North America, the Pacific and Australia, where he has been involved in discovery-stage copper, gold, silver, molybdenum and platinum group elements deposits. He specializes in regional to local scale targeting using the integration of geology, geophysics and geochemistry.
Holden is a past vice-president of Geoinformatics/Fractal Geoscience and a former CEO of a publicly listed gold explorer. He currently runs exploration advisory business GeoSpy, and is a co-founder of successful private project generation businesses Marlee Minerals and Odette Geoscience. He is also currently a director Aurumin (ASX:AUN) and chair of OD6 Metals (ASX:OD6), as well as several private companies.
Holden holds a BSc (hons) first class (geology) from The University of Western Australia and a PhD (history) from The University of Notre Dame Australia. He is a fellow of the Australasian Institute of Mining and Metallurgy and a member of the Geological Society of Australia.
Investor Presentation Fiery Creek Georgetown
FIERY CREEK COPPER PROSPECT
- Georgetown Project Queensland
- Fiery Creek Copper Prospect
- 29 square kilometre Yataga Granitoid Intrusive Complex
- Identified as potential massive scale constrained copper porphyry system
- Targeting millions of tonnes of contained copper in “pencil porphyry style” Cadia type system
- 1,000 mines, prospects, mineral occurrences in Georgetown District
- 3 exploration permits covering 850km2
- Significant historical gold production, very little systematic modern exploration
- Gold, lithium, silver, lead, zinc, copper, tin, tantalum, niobium, uranium, fluorine and molybdenite
- 8 potential scale prospects gold, copper, silver lead identified to date
- 23% copper, 14 ounces silver (460 g/t)* from rock samples in quartz breccia hosted veins at Fiery Creek
- Hosted within the massive Yataga Granitoid Complex
- 1600m x 750m outcropping copper veining up to 2m wide
- Interpreted shallow constrained, scale porphyry copper system
- Veining has extensive secondary copper mineralisation at surface
- Multi element assays point to possibility of a significant copper polymetallic system
- Pathfinder element anomalism widespread
- 2 geochemistry surveys completed by EMU
Click here for the full ASX Release
This article includes content from EMU NL, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
EIS Grant for Minnie Springs Copper Porphyry Drilling
Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to advise the grant of a co-funded EIS drilling grant of up to $110,000 for the Minnie Springs Cu-Mo project in the Gascoyne Region. Augustus thanks the State Government and DEMIRS for supporting exploration in Western Australia with these grants.
- Augustus Minerals has been granted a co-funded drilling grant of up to $110,000 for 2 x 700m deep diamond drill holes under the WA Government’s Exploration Incentive Scheme (EIS) for the Minnie Springs prospect.
- The deeper diamond drill program is designed to test and to provide a 550m deep, 1km wide geological/geochemical/structural cross-section through the large 3km long by 1km wide copper moly porphyry system, linking the Mo mineralised leucogranite to the extensive Cu in soil anomaly to the northeast.
- Previous RC drilling at Minnie Springs intersected mineralisation, geology and alteration halo consistent with the zoning of a large porphyry copper / moly system.
Andrew Ford, GM Exploration
“The Company is pleased to receive an EIS grant to complete deeper drilling at the Minnie Springs Copper Molybdenum Project. The resultant data will enable mapping of the lithology and alteration to a depth of 550m and potentially intersect, or provide vectors to, higher grade Mo-Cu mineralisation using a Mo-Cu porphyry geological model”.
Minnie Springs
Minnie Springs hosts porphyry related copper molybdenum mineralisation previously drilled and defined by Catalyst Metals. A molybdenum Exploration target has been defined for the historicdrillingareacomprisedofbetween12-84Mtasoutlinedbelow (Table 1 and Figure 1, 2.)1.
Table 1. Exploration target size estimate for Minnie Springs Molybdenum depositNote: Based on ~300 ppm cut-off at 100% recovery.
The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The planned diamond drilling will complement the recently completed 3,200m RC drilling program that infilled around hole MSRC012 (18m @ 0.37% Cu and 9.7 g/t Ag from 94m downhole, and 16m @ 0.38% Cu and 19.4g/t Ag from 121m downhole2) and tested the northern half of the 2km long copper-in soil anomaly. Assays from this program are expected to become available over the next month.
The limited exploration in the region, highlighted by 95% of the Ti-Tree project having no previous exploration, demonstrates the prospectivity of this underexplored mineral province.
Click here for the full ASX Release
This article includes content from Augustus Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Quarterly Activity Report 31 March 2024
EMU NL (ASX: EMU) (“EMU” or “the Company”) is pleased to report on its activities for the quarter ending 31 March 2024.
Figure 1. Fiery Creek Copper Prospect/Yataga Granodiorite summarizing rock (brown diamonds) and termite mound sample results (black crosses)
Continuing with its primary exploration focus on the Georgetown project in the latter half of 2023, EMU received assay results during the quarter from its second, in field reconnaissance work. The geochemical sampling programme covered the Fiery Creek high grade copper vein swarm and the Snake Creek prospects with significant element results returned from the Fiery Creek Copper (elevated Cu-Au-Ag-Bi-In-Pb-Sb-Te) and Snake Creek (elevated Pb-Ag-Au-Sb).
Whilst the survey was cut short due to inclement weather, EMU was encouraged by the significant success reflected in the assays results. The results from mineralogical studies confirmed EMU’s interpretation of an indicative, scale Copper-Porphyry system at the Fiery Creek prospect and was a highlight of the survey with new information building on the scale and potential of the prospect1.
Assay results returned included:
- Fiery Creek rock assay results up to 23.5% Cu, 0.27ppm Au, 460ppm Ag, 1.9% Bi, 89ppm In, 2.7% Pb, 667ppm Sb, 1470ppm Zn2.
- evidence of strong potential for the presence of critical and strategic minerals (Cu, Bi, In), with precious and base metals.
- evidence of alteration mineralogy, mineralisation geochemistry and areal extent of the Fiery Creek quartz-Cu-Bi vein swarm strongly suggesting a previously unrecognised subjacent porphyry Cu-Mo system.
- Yataga Granitoid Complex termite mound and coincident rock chip sampling returned several anomalous polymetallic zones for follow up.
- Snake Creek Prospect assays returned 0.20ppm Au, 390ppm Ag, 22.4% Pb, 464ppm Sb1.
Significant results were returned from the Fiery Creek Copper prospect with elevated Cu-Au- Ag-Bi-In-Pb-Sb-Te and from the Snake Creek prospect with elevated Pb-Ag-Au-Sb.
The elevated pathfinder element results and a macro-petrology assessment3 of rock samples completed by Mr Nigel Maund, Consulting Economic Geologist, from the previously unexplored Fiery Creek Prospect, point to the discovery of a porphyry copper system.
The sampling program assessed a number of high-priority prospects within the Georgetown Project tenements utilising termite mound and outcrop rock chip geochemistry. A total of 46 rock chip and 489 termite mound samples were collected across eight prospects.
Click here for the full ASX Release
This article includes content from EMU NL, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Quarterly Report for the Period Ending 31 March 2024
Redstone Resources Limited (ASX: RDS) (Redstone or the Company) is pleased to provide its quarterly report for the period ending 31 March 2024 (the Quarter).
HIGHLIGHTS
WEST MUSGRAVE COPPER PROJECT (100% RDS) – WEST MUSGRAVE, WESTERN AUSTRALIA
- Redstone currently planning work programs to advance its copper exploration strategy at its 100% owned West Musgrave Project in WA
- Foundation set for growth ‐ existing copper resource base at West Musgrave:
- Tollu copper vein deposit with a resource of 3.8 million tonnes at 1% Cu, containing 38,000 tonnes of copper (ASX announcement of 15 June 2016).
- Significant drilling intersections of high‐grade Cu mineralisation at the Chatsworth and Forio Prospects within Tollu (dating back to 2017) are yet to be included in the existing JORC 2012 resource estimate.
- Significant and consistent high‐grade copper results at depth and to the surface at Tollu:
- Most recent drilling at Chatsworth intersected 11m at 1.2% Cu from only 29m downhole (TLC205), extending the previously intersected high‐grade copper lens a further 20m towards the surface.
- Together with prior drilling, TLC205 also confirmed the targeted high‐grade Cu lens at Chatsworth has the following encouraging characteristics:
- Up to 26m thick (downhole) and has a consistent Cu grade over 1% Cu;
- Extends over 140m vertical from TLC205 to its deepest intersection to date in TLC188;
- A consistent high average grade of over 1% in numerous holes; and
- Remains open at depth
- Historical Cu intersections at Chatsworth include mineralisation that continues from the surface to the maximum vein intersection depth at over 424m (downhole), where grades of 3.73% Cu over 10m, including 5m at 5.3% Cu from 427m (downhole), still continue and are not closed out
- Drilling at the Forio Prospect, which included the highest grade intersection ever recorded at Tollu, being 1m at 18.5% Cu from 18m downhole (TLC203) within an intersection of 8m at 4.1% Cu from 13m downhole, extend Forio’s high grade Cu mineralisation zone at Forio to a 60m strike length (north and south) of continuous high grade copper.
- The high grade Forio Cu Zone extends all the way to the surface with lenses of Cu mineralisation up to 34m thick (downhole) with average grades always over 1% Cu (34m at 1.04% Cu from 15m downhole in TLC181)
- Nearby to major BHP deposit: Tollu copper deposit is located 40km east of BHP’s world‐class Nebo‐ Babel Ni‐Cu‐Co‐PGE deposit ‐ estimated to have a resource of 390 million tonnes grading 0.33% copper and 0.30% nickel, for 1.2 million tonnes of contained nickel metal and 1.3 million tonnes of contained copper metal
- Redstone has been successfully awarded a $220,000 drilling grant from the DMIRS under the Round 29 Exploration Incentive Scheme (EIS) – grant will co‐fund a single deep drill hole of approximately 1,000m at the Chatsworth Prospect at Tollu
Click here for the full ASX Release
This article includes content from Redstone Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Metals Australia Quarterly Activities Report - to 31 March 2024
Metals Australia Limited (ASX: MLS) (“Metals Australia”, the “Company” or “MLS”) is pleased to report its activities for the quarter ended 31 March 2024 (“Quarter”):
Highlights
- Highly experienced Mining Executive, Paul Ferguson commenced employment with the Company, as Chief Executive Officer on January 22nd, 20241. Paul’s commencement has enabled the Company to significantly advance planning and preparation for the exploration, metallurgical test work programs and design studies required to move its flagship Lac Rainy high-grade graphite project towards development. Contract awards for key programs and studies are imminent and will be announced during May.
- The Company completed a $3.5M AUD2(before costs) capital raise to support funding of its planned exploration programs in Quebec, Canada. The raise was completed at a 40% premium to the prevailing stock price and utilised the Canadian Federal Governments exploration tax incentive program (Flow Through Shares). This program is provided by the Canadian Government to help stimulate mineral exploration investment by providing increased tax incentives to investors who support companies exploring for critical minerals. The Company has subsequently noted announcements in the April 16th Canadian Federal Govt budget of changes likely to negatively impact these investor incentives from June 25th. Having completed the capital raise, the Company has ensured it has sufficient funding to achieve its exploration and development objectives.
- Company representatives, including its CEO, hosted an investor booth at PDAC3(Prospectors & Developers Association of Canada) Mining convention in Toronto March 3rd to 6th. The convention was hugely successful with significant contacts and connections established, who have expressed their interest in our project. Connections made include government representatives, fund managers, investors and a wide range of technical services and engineering companies covering all aspects of the study programs required to advance the companies projects. This helped raise the profile of our Company’s flagship Lac Rainy project, along with our other Quebec based projects. Follow up meetings with the government and supportive, Quebec based, exploration and project investment funds has further enhanced our profile in Canada.
- The Company held strategic planning workshops in Australia and Canada to review the extensive portfolio of high-quality exploration tenements held by the group. Strategic plans and priorities were developed for each project and plans are advancing to progress further exploration and metallurgical test programs. The Company is also investigating additional exploration or project opportunities where they add scale or accelerated pathways to development. The balance of the financial year will see further announcements, outlining plans.
Click here for the full ASX Release
This article includes content from Metals Australia, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Basin Energy Mining Exploration Entity or Oil and Gas Exploration Entity Quarterly Cash Flow Report
Basin Energy (ASX:BSN) is pleased to announced its mining exploration entity or oil and gas exploration entity quarterly cash flow report.
Click here for the full ASX Release
This article includes content from Basin Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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