High Grade Gold Rock Chips to 30g/t 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 St Patrick’s Well prospect within the recently acquired Music Well project.

Assays have been received from rock chips collected in December 2024 at the St Patrick’s Well Prospect.

• 10 rock chips were collected at St Patrick’s Well, with all samples of vein quartz assaying greater than 0.9g/t Au, including:
• 30.4g/t Au (ARK000063),
• 20.4g/t Au (ARK000061),
• 4.1g/t Au (ARK000059),
• 2.8g/t Au (ARK000071).
• The new rock chips support the previous rock chips which included1:
  • 25.1g/t Au (IMCA000013
  • 20.5g/t Au (SP2104088)
  • 14.4g/t Au (FSMWR090)
  • 7.86g/t Au (FSMWR085)
  • 6.21g/t Au (SP2104089)
• Review of the historic wide spaced RAB/Aircore drilling (WAMEX Report a060944)1 within and to the west of St Patrick’s Well prospect shows gold anomalism extending for 3km, parallel to the mineralised structural trends from Wonder and Celtic mines in the west.
• Next Steps at St Patrick’s Well:
  • Geological mapping and AC/RC drilling.
  • An artificial intelligence/machine learning (AI) enhanced targeting study is in progress. Results of this study are expected in Q1 2025.

“The exciting results from the Augustus geology team’s first visit to the St Patrick’s Well prospect have not only confirmed the validity of previous data collected by MWGM but also defined several new promising vein trends.

“Defining structures related to gold mineralisation on adjacent tenure within similar granitic rocks that also relate to mineralisation within Augustus tenure significantly improves the prospectivity of this underexplored project.

St Patrick’s Well is just one of several priority targets defined at Music Well that will be followed-up with on-ground exploration and drilling”.

Background

Augustus Minerals Limited (ASX: AUG) holds one of the largest exploration packages in the region covering an area of 1,345km² comprising the Music Well Gold Project (“Project”) located 35km north of Leonora in the Leonora / Laverton Greenstone Belt of Western Australia (Figures 1 and 2).

Figure 1: Regional Tenement Packages and Gold Projects

The outstanding gold endowment of the Leonora-Laverton District is illustrated by the numerous operating gold mines including the Darlot Gold Mine (~12km to the north), the King of the Hills Mine (~20km to the west), the Leonora Gold Camp (~30km to the southwest), and the Thunderbox Gold Mine (~20km to the west).

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