Justinian Cu-Au Prospect Extended Over 3km with 5.3g/t Au and Cu to 16%

Augustus Minerals (ASX: AUG; Augustus or the Company) is pleased to announce the latest soil sampling and follow-up rock chip results from the Company’s Ti-Tree project. Review of soil sampling data from the program started earlier in the year has identified several new targets (Justinian) and/or extensions to existing prospects (Crawford in the west of the project area) and possible extensions to Coo Creek.

Augustus Minerals has received new assays from ongoing soil sampling and rock chip sampling programs conducted on the Justinian prospect and adjacent areas at the Ti- Tree Project, in Western Australia

• High grade rock chips assaying up to 16% copper and up to 5.32g/t gold have been identified from field work over a 3.3 x 1.1km area
• The copper and gold identified in rock chips supports the anomalous soil sampling results from the recent regional survey.
• The soil and rock chip results define areas of Cu and Au anomalism related to splays of the Ti-Tree Shear wrapping around the Crawford Granite.
• Other anomalous soils have identified areas for further mapping and rock chip sampling north and west of Crawford Bore, and west of Coo Creek Broken Hill Style target.
• Elevated copper and lead in soils identified on a NE trending shear at Howell’s Gap
• Strong base metal anomalism over the Moogooree carbonate hosted Zn-Pb target.

Mapping and field work is continuing to increase the definition and tenor of anomalies to drill targets for future programs.

The soil samples, sieved in the field to pass -80#, were scanned by Portable Spectral Services (PSS) at their West Perth office under controlled conditions. In the western Ti-Tree area, above background levels of Cu, Pb and Zn were returned which defined adjacent or frequently coincident trends (Figure 2). Figure 3 shows Cu-in-soils and copper in rock chips. The validity of the soil anomalies was validated by some overlap between historic sampling using traditional wet assay methods and the new pXRF data.

Gold-in-soils was determined by 50g Fire Assay at Intertek’s Perth laboratory.

Figure 1 Prospects and VTEM Survey areas

Table 1 Significant Rock Chips Justinian (>0.1% Cu, 0.1g/t Au or 0.1% Pb).

Justinian Prospect

Review of soil sampling data from the regional soil program has identified several new targets and/or extensions to existing prospects.

Previous rock chip sampling1 identified gold to 10.1g/t at Justinian (Figures 1 and 2). Further rock chips within the soil anomaly have returned assays to 5.32g/t Au (WA001301) and 16% Cu (WA001310) (Table 1).

Justinian also shows anomalous levels of lead and zinc (Figure 2).

The mineralisation is dominantly hosted within the Leake Springs Metamorphics, a complex package of pelitic schist and fine-grained often garnet rich psammite.

Figures 3 and 4 show Au and Cu respectively in soil (pXRF results) and rock chips (four acid digest or aqua regia digest) at the Justinian prospect. The validity of the soil anomalies was validated by some overlap between historic sampling using traditional wet assay methods and the new pXRF data.

The Justinian prospect has been extended to cover a 3.2km x 1.1km area containing several distinct soil anomalies which appear to be coincident with diffracted splays of the Ti-Tree Shear around the Crawford Granite intrusions. It is possible that the diffraction around the more rigid granite bodies is causing dilation where the Ti-Tree Shear splays penetrate the host Leake Springs Metamorphics.

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