The Conversation (0)
Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to advise that a maiden reverse circulation (RC) drilling program has commenced at its Ti-Tree Project in the Gascoyne region of Western Australia, targeting copper-gold, molybdenum and rare earths.
- Substantial exploration program, that includes reverse circulation (RC) drilling, has commenced at the Ti-Tree Project in the Gascoyne Region of WA
- Exploration program at Ti-Tree is designed to test high-priority targets identified by Augustus
- Program is designed to test prospects with no or minimal historical drilling
- Key target areas include Minnie Springs, Copper Ridge, Nick’s Bore, Crawford, Crawford South and Coo Creek which have had recent target refinement
- Drilling will continue for several months
The Ti-Tree project overlies 85kms of the Ti-Tree Shear that is known to host a significant number of mineral occurrences in the region. The project area also contains >20kms of strike of the Money Intrusion, where Dreadnought Resources (ASX:DRE) has recently discovered significant Ni-Cu-PGE mineralisation1.
Figure 1. Location of Crawford copper-gold prospects intersecting the Ti Tree Shear and Money Intrusion
The ~10,000m program, forms part of a substantial initial project assessment across a number of key targets and marks the first-ever drilling to be undertaken at depth on many of these prospects and will include;
- Testing the surface expressions and extensions of known mineralisation at the Crawford, Crawford South, Copper Ridge and Nic’s Bore prospects within the 8km x 3km area of copper – gold – rare earths mineralisation (Figure 2.)2;
- Testing the 3km x 1km long copper-gold surface anomaly at Minnie Springs (Figure 3.);
- Targeting extensions to known molybdenum mineralisation previously drilled and defined by Catalysts Metals at Minnie Springs where results have defined an exploration target of 12 - 84Mt (Table 1 and Figure 3.)3.
Table 1. Exploration target size estimate for Minnie Springs Molybdenum deposit
Note: Based on ~300 ppm cut-off at 100% recovery. Results included;
- 60 m grading at 640 ppm Mo (0.107% MoS2) from 10 m (MRC 10) with 0.30 g/t Re;
- and 0.02% Cu, which included 26 m grading at 1,022 ppm Mo (0.170% MoS2) from 20 m with 0.51 g/t Re and 0.03% Cu;
- 18 m grading at 910 ppm Mo (0.152% MoS2) from 32 m (MRC 8) with 0.42 g/t Re and 0.04% Cu;
- 14 m grading at 1,082 ppm Mo (0.180% MoS2) from 20 m (MRC 7) with 0.31g/t Re and 0.07% Cu.
- Targets with potential for new discoveries based on historical geochemical anomalies, rock chips and geological mapping activities. Positive results returned from the drilling will be systematically followed up.
Andrew Reid, Managing Director
“Commencement of our first drill program is a significant milestone for Augustus and has the potential to transform the asset for us. The region is target-rich and offers many opportunities to discover near surface mineralisation.
We look forward to sharing the first results during the December Quarter.”
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.
AUG:AU
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
Click here for the full ASX Release
This article includes content from Alice Queen 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.
