Augustus Minerals

New High-Grade 35% Copper and 10g/t Gold Rock Chips at Ti-Tree

Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to announce the results of rock chips collected recently at the 3,600 sq km Ti-Tree Project in the Gascoyne Region.


Augustus Minerals has received the following assays from new rock chip samples recently collected as part of an ongoing regional targeting program:

  • 35% copper and 236 g/t silver from rock chip assays at Tiberius prospect.
  • 32% copper, 3.26 g/t gold and 129 g/t silver from rock chips from the South Snowy prospect.
  • 10.1g/t gold from rock chips from the Justinian prospect.
  • 53.1 g/t silver and 5,000ppm molybdenum from rock chips from the Claudius prospect.
  • 537ppm molybdenum and 47 g/t silver from rock chips from Minnie SE prospect, 1.4km SE of the existing Minnie Springs Mo-Cu porphyry drilling area.

Mapping and field work is continuing around these prospects as well new targets identified from a combination of geology, geophysics and multi-spectral image analysis.

Andrew Ford, GM Exploration

“These rock chips continue to highlight the untapped potential of the Ti-Tree Project to host significant precious and base metal mineralisation. Mapping and sampling continue over both existing prospects and in virgin areas with exciting results.

Meanwhile, preparations are underway for the diamond drilling to test the deeper potential at Minnie Springs Mo-Cu porphyry. Dilling is planned for Q3 2024 with assistance from the co funded EIS drilling grant as announced 2nd of May 2024”.

Rock Chip sampling

The Augustus Minerals geology team continues to cover the ground at Ti-Tree, with 231 samples collected in June. Assays have now been returned for these samples with encouraging results from existing prospects, as well as the definition of new prospects which have had no previously documented exploration (Figure 1). Meanwhile, soil sampling continues along strike of major structural trends hosting existing prospects2.

Highly anomalous rock chip results are listed in Table 1 and more comprehensive sample details are attached at the end of this announcement in Table 3, 4, 5 and 6.

Figure 1 Prospects with new anomalous rock chip assays draped on GSWA 500K geology.

Table 1 Rock chip assays for major elements (>0.1g/t Au, or 1g/t Ag, or 0.5% Cu)

South Snowy

South Snowy is a large area centred 8km NE of Minnie Springs Cu-Mo deposit and covers an area of structural complexity related to the major Minga Bar Fault System which runs from southeast to northwest through granitic rocks of the Moorarie Supersuite. The area is also cut by late NE trending dolerite dykes and quartz veins. Thirty-five samples have been collected in this area, with several samples returning elevated gold, silver and copper. A major NW trending fault defined by shearing, quartz veining and iron oxides after sulphide returned elevated gold in 5 samples, with a maximum of 3.26g/t Au in sample REE0012 (Figure 2). Sample WA001026, from northwest trending veining adjacent to a dolerite located 5km north of the major fault, returned high grade silver (129g/t Ag) and copper (32%) as well as anomalous gold (0.38g/t Au) (Figure 3). Nearby sample WA001028, also related to veining proximal to a dolerite dyke assayed 5.0g/t Ag and 1.14% Cu. Pathfinder elements include Bi and Te.


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.

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