Augustus Minerals

Minnie Springs High Grade Cu-Mo Porphyry Targeting

Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to provide an update on geological modelling of mineralisation and alteration mapping following recent RC drilling and reprocessing of historic IP survey data for the Minnie Springs Copper (Cu)-Molybdenum (Mo) project in the Gascoyne Region.
  • Augustus Minerals has conducted re-processing of historic Induced Polarisation (IP) geophysics at the Minnie Springs Cu-Mo porphyry project which highlights the potential for near surface extensions to existing Mo mineralisation.
  • Potential identified for higher grade Cu and Mo zones at depth below “tilted” porphyry model.
  • Cu mineralised quartz veins drilled by Augustus in the 2024 RC program over the eastern part of the prospect may be “smoke” remobilized from higher grade zones at depth by shearing related to the regional Minga Bar fault system.
  • Previous drilling at Minnie Springs intersected mineralisation, geology and alteration halo consistent with the zoning of a large porphyry copper / molybdenum system.
  • Two holes with EIS funding planned to test for the higher-grade zones at depth.

Andrew Ford, GM Exploration

“Modelling of the Minnie Springs system in an integrated manner by incorporating recent drilling, alteration mapping and geophysics has highlighted both potential extensions to existing near surface Mo rich zones, as well as the potential for higher grade Cu-Mo zones at depth”.

Minnie Springs

Minnie Springs hosts porphyry related Cu-Mo mineralisation that was previously drilled by Equatorial Mining and Catalyst Metals. A molybdenum Exploration Target has previously been defined by SRK Consulting for the historic drilling area comprised of between 12 - 84Mt as outlined below (Table 1 and Figure 2)1. Clarifying Statement: The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

Table 1. Exploration target size estimate for Minnie Springs Molybdenum depositNote: Based on ~300 ppm Mo cut-off at 100% recovery.

The recently completed 3,070m RC drilling program that infilled around hole MSRC012 drilled last year (18m @ 0.37% Cu and 9.7 g/t Ag from 94m downhole, and 16m @ 0.38% Cu and 19.4g/t Ag from 121m downhole2) and tested the northern half of the 2km long copper-in soil anomaly continued to extend the footprint of Cu anomalism. Assays from this program >0.1% Cu are Listed in Table 2 below; collar details are listed in Table 3.

The RC drilling has confirmed strong Cu anomalism within quartz veins over a strike length of greater than 3km beneath the strong Cu-in-soils anomaly (Figure 2). The association of the copper with the quartz veins with moderate to low levels of pyrite (no chargeability IP response) suggest structural remobilisation from a deeper copper source. Shearing within the Cu zone increases significantly as it approaches the major northwest trending Minga Bar Fault system; this is supported by a marked increase in water intersected within the RC drilling within the easternmost holes.

As discussed above, the Mo rich core of the system is located southwest of the Cu anomaly which implies that the system is tilted to the east, exposing the Mo rich zone which is usually seen deeper within the porphyry than the Cu zone.

Geophysics

Southern Geoscience Consultants (SGC) reprocessed the two IP Surveys conducted by Equatorial Minerals in 1997. A gradient array survey was conducted over both the Mo and Cu zones, highlighting elevated chargeability over the Mo rich zone, with no significant chargeability over the Cu-in-soil anomaly to the east. The chargeability anomaly over the Mo mineralisation appears to be reflecting a combination of disseminated pyrite and molybdenite observed in the historic drilling (Figure 3).


Click here for the full ASX Release

This article includes content from Augustus Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

AUG:AU
Augustus Minerals

Augustus Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Augustus Minerals

Augustus Minerals


Keep reading...Show less
IMARC

Registration Opens for the Inaugural Mining, Metals and the Circular Economy Conference

Early bird delegate passes are now on sale for the inaugural Mining, Metals and the Circular Economy conference, scheduled to take place at the ICC Sydney on 29 & 30 October 2024.

The launch of this event is timely, as circularity in the mining and metals industry is important for reaching net-zero goals and global decarbonisation, while also addressing the rising demand for minerals required for future technologies and other vital materials.

Organised by Beacon Events, the Mining, Metals and the Circular Economy conference will be co-located with the International Mining and Resources Conference (IMARC), providing attendees with unprecedented access to industry experts and thought leaders in the mining sector, fostering a dynamic exchange of innovative ideas and best practices. What sets this conference apart is that it is the world’s first and only event to explore the global context of process and product circularity throughout the mining industry’s value chain.

Keep reading...Show less
Aldoro Resources

Latest Kameelburg Assays Up To 10.38% Nb2o5 and 9.89% TREO

Aldoro Resources Ltd (“Aldoro”, “The Company”) (ASX: ARN) is pleased to provide an update on the large-scale geological mapping campaign at the Kameelburg Carbonatite Project, targeting priority areas across the southern and eastern margins of the large carbonatite plug.

Keep reading...Show less
Firetail Resources

Firetail Resources

Keep reading...Show less
Aura Energy

Aura Increases Tiris’ Mineral Resources by 55% to 91.3 Mlbs U3O8

Resource growth adds confidence in future expansion and scale opportunities

Aura Energy Limited (ASX: AEE, AIM: AURA) (“Aura” or “the Company”) is pleased to provide an update on the Mineral Resource Estimate (“MRE”) for the Tiris Uranium Project (“Tiris” or the “Project”) in Mauritania.

Keep reading...Show less
  Rimfire Pacific Mining Limited

Latest Assays Demonstrate Significant Increase in Murga Scandium Grades

Rimfire Pacific Mining (ASX: RIM, “Rimfire” or “the Company”) is pleased to advise that re-assaying of aircore drill samples from the Murga Scandium Prospect has demonstrated a significant increase in scandium grade for the prospect, which is located on Rimfire’s Fifield Project 70kms NW of Parkes NSW (Figure 1).

Keep reading...Show less
Redstone Resources

Investor Presentation - West Musgrave Copper Project

Redstone Resources Limited (ASX: RDS) (Redstone or the Company) is pleased to present its investor presentation.

Keep reading...Show less
Augustus Minerals

Augustus Minerals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×