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Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to advise that it has locked in dates to conduct an Aboriginal Heritage survey with the Yinggarda, Baiyungu & Thalanyji combined claimant group that speak for approximately 70% of the Augustus tenure of 3,600km2.
Highlights
- Aboriginal Heritage surveys to commence early August
- Aboriginal Heritage survey will cover drill targets for copper, rare earths and lithium
- Heritage survey is with the largest Traditional Owner combined group (Yinggarda, Baiyungu & Thalanyji) which represents approximately 70% of the tenement package
- Field staff employed, exploration camp already established on site
- Drilling to commence immediately post final approvals
This first survey will concentrate on key prospect areas:
- Copper - Crawford Bore, Nicks Bore, Copper Ridge and Minnie Springs;
- Rare Earths – Mac’s Well; and
- Lithium – Birthday Well.
It is expected that the survey will be conducted during the 2nd and 3rd week of August, which upon receiving all final clearances will allow drilling activities to commence soon after.
Andrew Reid, Managing Director
“This Aboriginal Heritage survey is the last milestone required to be completed prior to drilling activities commencing. The prospects to be surveyed are the main target areas generated across the tenement package and will be sufficient to complete drilling activities for the remainder of the 2023 drill season. We look forward to getting on the ground and start drilling in the coming weeks.”
Figure 1. Tenement location map and mineral prospects overlain with the Yinggarda, Baiyungu & Thalanyji claimant boundary
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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.
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