Drilling Hits Copper Sulphide Zones at Minnie Springs

Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to advise that RC drilling at the Minnie Springs Cu-Au-Mo prospect has intersected zones of copper sulphide mineralisation.

• Copper sulphide zones intercepted in multiple RC holes
• MSRC012 – intersected multiple blebby to disseminated copper sulphide zones from 82m – 139m downhole
• RC Drilling continues at Minnie Springs with activities to be completed over the next several weeks
• Assay results due by late December

Copper sulphide mineralisation has been intersected in several drill holes and shows a strong correlation to quartz veining within a strongly propylitic altered and sheared monzogranite.

The primary target for drilling is the 3km x 1km long copper anomaly (Figure 4.)

Figure 1. Hole MSRC012 – showing visual pyrite - chalcopyrite – chalcocite – covellite mineralisation in zones from 127 – 139m downhole.

Figure 2. Hole MSRC012 – showing black RC piles containing copper sulphides.

Andrew Reid, Managing Director

“Minnie Springs is part of the very active drill program we commenced back in September. We were always excited by what we saw on the ground at Minnie Springs which is now vindicated by the multiple zones of visible copper mineralisation in the drill chips.

Mineralisation is spatially associated with intense silicification, quartz veins and potassic alteration, interpreted to be the part of a porphyry-related hydrothermal system.

These first drill holes into a previously untested 3km x 1km Cu-Au anomaly represent the start of the discovery of a potentially new geological system which has received little modern-day exploration.

Information gathered from this program of drilling will give us vital insight and assist in the planning of the next stages of exploration at Minnie Springs.”

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