Further High-Grade Gold to 50g/t Au at Music Well

Augustus Minerals (ASX: AUG; Augustus or the Company) is pleased to announce the results of rock chips collected during a field trip to the Clifton East prospect within the Companies Music Well project.

Assays have been received from rock chips collected in December 2024 at the Clifton East Prospect.

• 21 rock chips were collected at Clifton East, assays include:
  • 50.3g/t Au, 45g/t Ag (ARK000064),
  • 9.73g/t Au, 1g/t Ag (ARK000066),
  • 8.95g/t Au, 0.12g/t Ag (ARK000076),
  • 4.57g/t Au, 3g/t Ag (ARK000074),
  • 1.67g/t Au, 0.1g/t Ag (ARK000123).
• The new rock chips support the previous rock chips which included¹:
  • 20.1g/t Au (110657),
  • 7.86g/t Au (110658),
  • 7.86g/t Au (FSMWR085),
  • 1.71g/t Au (FSMWR139).
• The rock chips have defined a 500m long east-northeast trend of gold anomalism that is coincident with a linear zone of demagnetization within the host granitoids.
• Several rock chips were collected during the field trip from other areas with a high of 3.59g/t Au (ARK000108) from the Bulls Head target.
• Next Steps at Clifton East:
  • Geological mapping and sampling have re-commenced, and AC/RC drilling is being planned.
  • An artificial intelligence/machine learning (AI) enhanced targeting study is in progress. Results of this study are expected in Q1 2025.

Andrew Ford, GM Exploration

“The new rock chips from the Clifton East prospect, combined with the recent assays from St Patrick’s Well and other regional targets continue to illustrate the potential of this under- explored portion of the Leonora-Laverton District. The Augustus geology team returned to site on the 20th of January to continue the mapping and sampling program.”

Figure 1: Regional Tenement Packages and Gold Projects

Background

Augustus Minerals Limited (ASX: AUG) holds the exploration licenses and applications comprising the Music Well Gold Project (“Project”) located 35km north of Leonora in the Leonora/Laverton Greenstone Belt of Western Australia.

Comprising ten granted exploration licences covering an area of 1,345km², making the Project one of the largest exploration packages in the region (Figures 1 and 2).

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