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Augustus Minerals Limited (ASX: AUG; Augustus or the Company) is pleased to announce the commencement of the previously announced airborne Versatile Time Domain Electromagnetic (VTEM) Max survey over three areas within the 3,600km2 Ti-Tree Project in the Gascoyne Region. The survey should be finished this week with final data expected within four to six weeks.
- The VTEM Max survey over Cu-Ni-PGE, Broken Hill Style and Uranium targets has commenced.
- The survey is covering:
- The Money Intrusion, prospective for Cu-Ni-PGE mineralisation.
- Copper Ridge and Nick’s Bore over anomalous Copper Drilling results.
- The Coo Creek prospect where drilling by Augustus in 2023 identified strongly anomalous Zn-Pb-Ag mineralisation of possible Broken Hill Style massive sulphide.
- The Munaballya Well area which shows potential for economic uranium mineralisation.
- The surveys will help to advance the untapped potential of the Ti-Tree project to host economic mineralisation of multiple commodities.
VTEM
UTS Geophysics is conducting the helicopter borne VTEM Max survey comprising 646-line km over three separate survey areas. The system is excellent for locating discrete conductive anomalies as well as mapping lateral and vertical variations in resistivity which helps map structure, alteration and rock type. The system also collects magnetic data through a caesium magnetometer.
Figure 1 Prospects and VTEM Survey areas
Money Intrusion
The Money Intrusion, which has proven potential to host Ni-Cu-Co-PGE (platinum group elements), is part of the regional Mundine Well Dolerite Suite, a regionally extensive dolerite (strike length >80km). Mapping, aeromagnetics and multi-spectral imagery show that the Money Intrusion within the Ti-Tree Project covers a strike length greater than 16km, reaching widths >600m in the north (Figure 2).
The VTEM Max system will look to identify conductive anomalies which may reflect concentrations of massive to semi-massive sulphide along the thicker parts of the Money Intrusion within AUG tenure.
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