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Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to advise that the results of the first reconnaissance field survey for a number of targets have been received.
Highlights
- Results from initial field trip confirms prospectivity of the Ti-Tree Shear project
- Copper - Multiple rock chip samples from 0.6% - 2.2% Cu from Crawford area extend known outcropping mineralisation along Copper Ridge by 117% to 1,300m of strike length
- TREO & Molybdenum - Crawford South returned elevated grades of 2,077ppm TREO & 1,786ppm Mo
- TREO - Bentley ironstone prospect returned grades up to 1,283ppm TREO from rock chips
- Scandium – Mac’s Well returned highly anomalous grades of 104ppm Sc in ironstone
- Numerous high-level targets identified for further exploration efforts
- Aboriginal Heritage survey work commencing today
- RC drill program to commence immediately post Heritage survey clearance, testing anomalies across the tenement package
Outcropping mineralisation from several key prospect areas were mapped and collected. The information received from the surface sampling is being used to develop and guide the drilling programs which are being planned currently.
The unique array of commodities and mineralisation seen along the Ti-Tree Shear is reflected in the results received to date from only the first on-the-ground field trip.
Augustus sampled mostly at prospects where there has been zero previous modern exploration conducted, with some sampling across the Crawford area which is highly elevated in surface copper and gold anomalism (Figure 1).
Andrew Reid, Managing Director
“Augustus has moved quickly to develop it’s on the ground exploration plan. These first results add further weight to our initial thoughts on a range of the best targets and prospects that Augustus plans to drill over the coming months.
Our base metals targets are shaping up quite nicely now and are likely to be the first to be drilled once the Heritage surveys are completed. The rare earths assays show real promise and will be subjected to more evaluation in the field this week.
Our priority currently is completing Aboriginal Heritage surveys and commencing drilling.”
Figure 1. Location Map of Prospects sampled.
Copper-Gold
The Crawford area is an 8km x 3km zone highly anomalous in copper and gold. Within this area there are four (4) distinct zones which have been mapped and sampled to date.
The flagship prospect at Crawford is Copper Ridge (Figure 2) was previously mapped and sampled over approximately 1600m of outcrop. New sampling has increased this strike length by 700m to 1,300m in total (Figure 3). Copper Ridge will be one of the first prospects to be Heritage surveyed and drilled.
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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.
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.
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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.
