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Augustus Minerals Limited (ASX: AUG) has executed a binding share purchase agreement (“SPA”) with MCA Nominees Pty Ltd (“MCA”) to acquire 100% of the issued capital in Music Well Gold Mines Pty Ltd (“MWGM”), an entity which holds the exploration licences comprising the Music Well Gold Project (“Project”). The Project is in the Eastern Goldfields region of Western Australia located 35km north of Leonora.
- Augustus Minerals Limited (ASX: AUG) (“Augustus” or the “Company”) is pleased to announce that is has executed a binding share purchase agreement to acquire 100% of the issued capital in Music Well Gold Mines Pty Ltd, which holds the exploration licenses and applications comprising the Music Well Gold Project located 35km north of Leonora in the Leonora / Laverton Greenstone Belt of Western Australia.
- The large contiguous tenement package covers an area of 1,345 sq km in a region that hosts gold endowment of >12Moz1 gold and >450kozpa gold production2 within 50km of the project.
Neighbouring operating mines include:
Northern Star3 (ASX:NST)
- Thunderbox Mine3 (4.2M oz Au Resources) 20km to the west
- Wonder Underground (0.9Moz Au Resources3) <1km west
Genesis Minerals4 (ASX:GMD)
- Hub Project (0.7 Moz Au Resources) adjoining Music Well Project
Vault Minerals5 (ASX:VAU)
- Darlot Gold Mine (1.9 Moz Au Resources) is located 12km north
- King of the Hills mine (4.1 Moz Au Resources) 20km to the south west
- Extensive geophysics, gravity, soil sampling and rock chipping have already been completed with data validation and target prioritization underway
- Potential for gold discoveries from the dedicated and focused Augustus exploration team over the next 2 years.
Andrew Ford, GM Exploration commented
“The acquisition of such a large prospective gold exploration package in close proximity to operating mines owned by Northern Star, Genesis and Vault Minerals with +12M oz of resources and over 450kozpa gold production2 is a significant coup for Augustus (Figure 1).
“With the gold price now exceeding A$4,000/oz it provides Augustus Shareholders with significant exposure to future discovery in one of the greatest gold provinces in the world”.
Background
Comprising ten granted exploration licences covering an area of approximately 1,052km2 and two exploration licences in application covering an area of 293km2. The total tenement package is 1,345 sq km making the Project one of the largest exploration packages in the region.
Augustus believes that adding a gold focussed exploration project of this size provides optionality and complements its copper/base-metals/uranium focus at the Ti Tree Shear project in the Gascoyne.
Music Well Project
The Project is located within the Murrin Murrin domain, Kurnalpi Terrane of the Yilgarn Craton in the Leonora / Laverton Greenstone Belt of Western Australia.
The Yilgarn is a globally significant mineralised province for gold, nickel and aluminium, and also hosts major deposits of other minerals such as copper, zinc and iron along with other resources such as tantalum, lithium, vanadium, uranium and rare earth elements (“REEs”).
Figure 1: Project location, regional gold Mineral Resources and working processing plants. See Table 1 for source data for Mineral Resources of Gold Deposits in the Leonora-Laverton District).
MWGM initiated the consolidation of tenements and commenced field work, on ground exploration and targeting studies from November 2019. In the resulting 5-year period from November 2019 to November 2024 the Company has consolidated a tenement package of 1,345 sq kms and has identified priority targets for follow up exploration work for Air Core, RC and Diamond Drilling.
These high priority targets have been identified by using MWGMs “Three – Schema Gold Prospectivity Model” which incorporates and utilises classical structural mapping techniques, geochemistry such as Ultra Fine + (UFF) soil sampling, rock chip sampling and advanced geophysics. This multi-disciplinary approach to exploration utilising high-resolution airborne magnetics, gravity and radiometric data, including (UFF) soil sampling over + 1,052sq kms also includes the reinterpretation of the solid geology, structure and deformation history of the region to inform local interpretation of the geological framework and identification of the targets completed over a 5-year period within the Project area.
The geological studies, completed with the assistance of a group of technical specialists, including Southern Geoscience, Fathom Geophysics, Tower Geoscience, Geobase Australia, Daishat Geodictic Gravity Surveyors, Walter Witt Experience and GeoSpy Australia utilising high-resolution airborne magnetics, gravity and radiometric data.
The principal target types include gold in shear zones within granitoids and greenstones (analogous to the nearby Wonder Deeps Gold Mine (Northern Star) and intrusion-related gold systems potentially analogous to King of the Hills and Darlot Centenary mines located southwest and north of the Music Well Gold Project respectively. The Music Well Gold Project is considered to be prospective for gold, base metals and also for lithium, tantalum and REE, which will also be investigated.
The tenement area is characterised by a strongly deformed stratigraphy and intrusions and contains numerous predominantly west-northwest anastomosing subparallel shear zones providing links potentially to Wonder Deeps and Thunderbox gold mines (Northern Star) located to the west of the project area; and the Hub (Redcliffe) gold deposit located to the east (Genesis).
In addition, a series of north-northwest and north-northeast structures trend through the project area and structures of a similar orientation host many of the gold deposits in the Leonora / Laverton area.
There are numerous operating gold mines in the district including the Darlot Gold Mine (~12 km to the north), the King of the Hills Mine (~20 km to the west), the Leonora Gold Camp (~30km to the southwest), and the Thunderbox Gold Mine (~20 km to the west) (Figure 2).
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.
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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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Vast Land Package for Critical and Precious Metals Exploration in Australia
Pacgold: Advancing the Alice River Gold Project in Northern Queensland with Tier 1 Discovery Potential
Pacgold (ASX:PGO) is an Australian gold exploration company advancing the high-potential Alice River Gold Project in Northern Queensland. Led by a technically driven and experienced team with proven success across exploration, resource development, and capital markets, Pacgold is applying a systematic, discovery-focused approach to unlock the project’s value.
The company holds a dominant 377 sq km land package, including eight mining leases, along the highly prospective Alice River Fault Zone (ARFZ) — a major structural corridor interpreted to host an intrusion-related gold system analogous to globally significant deposits such as Fort Knox (USA) and Hemi (WA).
The Alice River Gold Project is a large-scale, greenstone-hosted gold system located in Northern Queensland, centered along the regionally significant Alice River Fault Zone (ARFZ). The project covers 377 sq km of contiguous tenure, including eight granted mining leases.
Pacgold controls over 30 km of strike length along the ARFZ — a major crustal-scale structure that has only recently been the focus of systematic exploration using modern techniques, offering significant untapped discovery potential.
Company Highlights
- District-scale Discovery Potential: Pacgold controls more than 377 sq km of tenure and more than 30 km of strike length across the Alice River Fault Zone (ARFZ), a fertile, underexplored structural corridor in Northern Queensland.
- Maiden Resource: In May 2025, the company published a 474,000 oz gold mineral resource estimate (MRE), covering just five percent of the total strike, confirming high-grade mineralization and strong potential for expansion.
- Aggressive Exploration Strategy: More than 10,000 metres of RC drilling campaign is underway, complemented by air-core and diamond programs, aimed at growing the Central Zone resource and testing multiple regional targets.
- Attractive Valuation Entry: With a market capitalization of just ~AU$10 million and an EV of AU$8.5 million (as of Q1 2025), Pacgold provides a low-cost entry into a potentially Tier 1 gold system.
- Experienced Leadership: The board includes proven mine developers and discovery geologists with prior success at Chalice, AngloGold Ashanti, BHP and Sibanye-Stillwater.
This Pacgold profile is part of a paid investor education campaign.*
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High-Grade Gold Discovery in First 8 Mile Drill Hole
- First RC hole at 8 Mile discovers high-grade gold and ends in mineralisation
- 8 Mile gold mineralisation extends 75m north of tenement boundary
The 8 Mile target is located within the Gidji JV Project (“Gidji” or “the Project”), approximately 15 kilometres north of Kalgoorlie and surrounded by multiple gold mining and processing operations, including Northern Star Resources Limited’s (“NST”) Kalgoorlie gold operations (Figure 1).
The 8 Mile Target is located immediately adjacent to NST’s “8-Mile Dam” gold deposit which, according to the most recent publicly available data, contains an estimated 7Mt @ 1.4g/t Au for 313,977 ounces1.
A limited number of fast-tracked results from the first RC hole, GJRC029, show a wide zone of gold mineralisation with a similar tenor to 8 Mile Dam (18m @ 0.94g/t Au from 480m including 1m @ 6.04g/t Au), approximately 75m north of the tenement boundary, and ended in mineralisation (3m @ 0.52g/t Au).
The Company is awaiting assay results from the remainder of the hole which are expected in 2-3 weeks.
Miramar’s Executive Chairman, Mr Allan Kelly, said the Company was excited to see gold mineralisation continuing onto Miramar’s ground for a significant distance.
“This is the first time we have discovered significant gold mineralisation on our side of the fence, even though the drill hole didn’t end up exactly where we planned it to. The flip side of this is that we have extended the strike of gold mineralisation for over 100m on to our tenements,” he said.
“We’ve also demonstrated a relationship between the IP anomalism and gold mineralisation, which makes the other IP anomalies we have outlined at Gidji even more prospective,” he said.
Figure 1. The Gidji JV Project and 8-Mile Dam in relation to Kalgoorlie and surrounding deposits.
GJRC029 aimed to test an Induced Polarisation (IP) anomaly on the tenement boundary interpreted to represent the sulphide-rich gold mineralisation seen at the neighbouring 8 Mile Dam Deposit.
GJRC029 was collared approximately 10m north of the tenement boundary and mirrored MPGD008, a diamond hole drilled down-dip approximately 40m south of the tenement boundary by KCGM in 2013 and which intersected significant gold mineralisation related to the 8 Mile mafic unit.
Unfortunately, GJRC029 deviated significantly from the planned azimuth and, as a result, by the time the hole was terminated at the target depth of 504m, the drill trace ended up approximately 75m north of the tenement boundary (Figure 2). Despite this, the hole intersected a thick section of the steep westerly- dipping and highly altered 8 Mile mafic unit with widespread sulphide mineralisation, including disseminated magnetite and coarse-grained arsenopyrite, pyrrhotite and chalcopyrite, similar to the 8 Mile Dam Deposit (Figure 3).
Based on visual logging of RC drill chips, handheld portable XRF results and magnetic susceptibility measurements, samples from the bottom 56m of the hole were sent for priority analysis by fire assay at Bureau Veritas in Kalgoorlie.
The results from these initial samples confirm the relationship between the gold mineralisation and sulphides, and a relationship between the best gold mineralisation and coincident magnetic anomalism and elevated Arsenic as measured by handheld portable XRF. The first results also confirm that the IP anomaly is associated with potentially significant gold mineralisation, whilst the significant deviation of GJRC029 away from the planned target increases the potential strike length of gold mineralisation on Miramar’s ground.
Significant results are listed in Table 1, with assay results from the remainder of the hole expected in coming weeks.
The initial RC drilling programme, which also tested two other IP targets, is nearing completion and results will be reported once received and compiled.
Once all assays are received, the Company will plan further RC and/or diamond drill holes including to test the dip and strike extent of the mineralisation intersected in GJRC029.
The Company advises that the WA Department of Mines, Petroleum and Exploration (DMPE) has extended the main Gidji JV tenement, E26/214, for a further five years, and will now expire in March 2030.
Click here for the full ASX Release
This article includes content from Miramar Resources 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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