Copper-Silver-Molybdenum Intersected in Drill Program at Ti-Tree

Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to announce promising results from its maiden drill program at its Ti-Tree Project in the Gascoyne Region of Western Australia.

Highlights

 
• 78 RC holes for 9,086m completed, drilled across 6 project localities
• First drilling at Minnie Springs has intersected mineralisation, geology and alteration consistent with the zones of a porphyry copper system
• Strong results received from the first 22 holes drilled into the Minnie Springs copper project, including intercepts of:
  • MSRC012: 18m @ 0.52% CuEq (0.37% Cu and 9.7 g/t Ag) from 94m downhole, and;
  • 16m @ 0.69% CuEq (0.38% Cu and 19.4g/t Ag) from 121m downhole
  • MSRC022: 7m @ 0.19% Cu from 87m downhole
  • MSRC011: 7m at 0.12% Cu from 21m downhole
• MSRC012 mineralisation contained significant base metal and silver including:
  • 5m @ 27.6 g/t Ag, 0.25% Pb and 0.15% Zn with 148 ppm Mo from 107m, and
  • 14m @ 21.5 g/t Ag, 0.18% Pb and 0.1% Zn with 274ppm Mo from 122m
• Copper mineralization at Minnie Springs comprising disseminated and quartz vein hosted chalcopyrite in moderate to strongly epidote-chlorite (propylitic) altered host rocks
  • Copper Ridge CRRC008 returned:
    • 4m @ 0.91% Cu from 13m
    • Including 2m at 1.67% Cu
• 2024 drilling at Minnie Springs to include further RC and DDH drilling to commence in Q1 or early Q2 2024

The primary focus of this drill program was to target significant mineralised zones defined by surface exploration completed across the 6 prospect areas of Minnie Springs, COO Creek, Nick’s Bore, Copper Ridge, Crawford and Crawford South (Figure 1).

Figure 1. Location map showing prospects drilled to date: Minnie Springs, Copper Ridge, Nick’s Bore, Crawford Bore, Crawford South and COO Creek.

Andrew Reid, Managing Director

“Drilling at Minnie Springs has defined Cu-Ag-Mo mineralisation in several areas after having only tested the southern half of the 3km long Cu-Mo-Ag anomaly. These good thicknesses of Cu and Mo now strongly validate the concept of Minnie having the potential to be large porphyry Cu system in a zone adjacent to the Minga Bar fault.

“The strength of the mineral alteration zones at Minnie Springs warrants further drilling in 2024. We will drill the northern portion of the copper anomaly as well as drill several deep diamond holes to get a better understanding of the orientation of the extensive sheeted quartz veins which host the best parts of the Cu-Mo-Ag mineralisation.

“We are looking forward to getting on the ground to re-commence drilling in 2024”.

Assay Results for Minnie Springs

This drilling has been highly successful, with hole MSRC012 encountering two zones of mineralisation averaging 0.37 and 0.38% copper with significant silver and molybdenum over intervals of 18m and 16m respectively (Table 1, 3, figures 2 and 3).

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