- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports

Quarterly Activities Report for the Quarter ended 31 December 2024
Metal Bank Limited (‘MBK’ or ‘the Company’) is pleased to outline below the activities for the Quarter ended 31 December 2024 (‘Quarter’).
Highlights
WA Livingstone Gold
- Strategic review of the Livingstone project continues with existing JORC resource optimization work currently underway
- Advanced gold project with defined gold resources and significant expansion potential at Kingsley extension and Livingstone North within trucking distance to existing processing facilities
- Multiple exploration targets1 defined by geochemical, alteration, structural, geophysical and drilling results over >40km of structural strike length
- Numerous high-quality gold targets not yet tested
Saudi Arabia
- CMC (MBK’s Saudi JV Company) awarded the Wadi Al Junah Project from the recent Saudi Government Exploration Licensing Round 6
- Wadi Al Junah is prospective for volcanogenic massive sulphide (VMS) copper-zinc-gold-silver mineralisation and shear zone gold-silver, with several untested priority targets
- Initial fieldwork conducted at Wadi Al Junah, with sampling results awaited
- MBK continues to assess new potential project areas in Saudi Arabia prospective for copper, gold and other critical minerals
- MBK continues discussions with third parties holding exploration licences regarding potential co-operation
- MBK’s Chair, Ines Scotland and Executive General Manager Jon Black attended the Future Minerals Forum in KSA
Jordan
- Exploration rights granted over Area 65, a bulk tonnage stratiform copper- oxide target, located northwest of the company’s Malaqa project
- Exploration rights now held over Area 47, a newly recognized 4km² intrusive system in Southern Jordan anomalous for Mo-Cu-Pb-Zn in recent stream sediments; the Company’s Malaqa project; and Area 65
- MBK continued to advance its three-project strategy in Jordan aimed at systematically progressing all three projects (Malaqa, Area 47 and Area 65) to drilling status at the same time, to provide cost effective scale for a drilling program
Millennium Co-Cu-Au Qld
- Thick, high grade intersections returned from graphite analysis of previous Cu-Co-Au drilling samples including2:
- 56m @ 18.29% graphite from 66m (MI22RD01)
- 20m @ 14.05% graphite from 64m (MI22RD02)
- 49m @ 12.97% graphite from surface, and 14m @ 18.88% graphite from 64m (MI22RD06)
- Significant intersections within and adjacent to the pit model for the existing 2012 JORC Inferred Resource of 8.4Mt @ 0.09% Co, 0.29% Cu and 0.12g/t Au for a 1.23% CuEq3
- Further metallurgical and drilling work in planning, to unlock additional value to commence following the wet season
Corporate
- Entitlement Offer seeking to raise up to $1.56 million closed fully subscribed with significant support from existing shareholders and new institutional and professional investors
- MBK’s Annual General Meeting held in November 2024, with all resolutions carried
Metal Bank Executive Chair, Ines Scotland, commented:
“During the Quarter we have made significant advances at all of our projects.
In Western Australia, we are continuing our strategic and resource review on our Livingstone Gold Project. This is a valuable project, supported by a very robust gold market, and we are focused on unlocking the value.
We have progressed our three-tier strategy in Saudi: our JV Company with our former partner for the Jabal Sayid Project has been awarded the Wadi Al Junah project following the Round 6 Auctions; our geologists have reviewed available data, conducted field work and assays are awaited; and we have also furthered discussions with industry participants who hold granted licences regarding potential co-operation.
We have now secured exploration rights over two areas in addition to our original Malaqa project in Jordan and we are in discussions with a local company regarding a JV on the projects to offset our time and funding requirements.
In Queensland, graphite analysis of previous drilling samples at our Millennium project returned thick, high grade intersections, which will be followed up with further drilling and metallurgical testing aimed at adding further value to this project”.
Click here to view the Quarterly Cash Flow Report
Click here for the full ASX Release
This article includes content from Metal Bank Limited, 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.
Application for quotation of securities - AUE
Sarama Corporate Presentation - February 2025
AI Defines 18 New Gold Targets at Music Well
SensOre consultants have applied artificial intelligence (AI), machine learning (ML) and other processing techniques using both public and proprietary datasets over the Music Well Project.
- Cutting edge AI/ML algorithms targeting areas with minimal outcrop or under cover.
- Integration of geological, geochemical and geophysical data sets into the AI process to define digital mineralisation fingerprints and generate AI-enhanced gold discovery predictions.
- The AI SensOre study concluded that “Application of ML algorithms were found to model +1m oz Au potential with a high degree of predictability, and a total of 18 targets were identified within the Music Well project”:
- Target 1 has the highest priority and is in the central north of the project with a strike length of 8km.
- Target 1 trends NNW parallel to the general geological fabric as well as being intersected by several WNW trending cross structures.
- Target 2 is located 4km east of the Wonder Deeps mine of Northern Star and is adjacent to a parallel WNW trending structure hosting Vault Minerals Great Western mine.
- Target 2 is 1.4km in strike and 800m wide.
- No historic drilling has been recorded at any of the target areas, highlighting the underexplored nature of the Music Well project.
- Next Steps
- Geological mapping and sampling over these new targets are scheduled for the next two weeks to gain further insight into the new targets.
- Results from the January rock chip sampling program are expected shortly.
Andrew Ford, GM Exploration
“The work by SensOre has focussed our attention from areas of outcrop, toward regional targets which are obscured in many cases by thin cover and sheetwash. By applying groundbreaking technologies such as artificial intelligence has enabled the rapid prioritization of multiple targets. The definition of targets reflecting a specific geophysical and geochemical response which also focuses on key mineralised structural trends provides encouragement as to the robust nature of the targeting process”.
Figure1: 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.
Music Well comprises ten exploration licences covering an area of 1,345km2, making the Project one of the largest exploration packages in the region (Figures 1 and 2).
The outstanding gold endowment of the Leonora-Laverton District of >28M ounces3 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).
AI Enhanced Gold Exploration
The Company commenced a gold targeting exercise with SensOre_X Pty Ltd (SensOre) in November 2024, using their Artificial Intelligence (AI) and Machine Learning (ML) technologies to allow predictive analytics to generate targets for discovery of gold systems at the Music Well project.
SensOre is an industry leading technology services provider of AI/ML applications to the minerals exploration and mining industry. SensOre’s technologies have been developed over many years and involve the application of new computer assisted statistical approaches and ML techniques across the mineral cycle to provide the next generation of exploration discoveries. SensOre aims to become the top global minerals targeting company through deployment of big data, AI/ML technologies and geoscience expertise.
The Company committed to this new technological approach to gold exploration at Music Well to reinforce the existing generative exploration undertaken by the Company and deliver new “out of the box” targets for gold mineralisation over the project area, which has minimal historic exploration and limited outcrop.
In addition, the Company has inherited a large and impressive database of geological, geochemical, and geophysical information since acquiring Music Well Gold Mines Pty Ltd in late 2024. Having a variety of good quality datasets is considered a key attribute for the application of the AI/ML technology to accelerate the discovery process. The data layers used in the AI/ML processing include results from 2,478 Ultra fine fraction soil samples, 18,042 soil samples and 155 rock chip samples, in addition to detailed aeromagnetic and gravity data.
The Music Well project is contained within an area of influence (AOI) where a “data cube” was constructed covering the four 100k scale regional map sheets containing 80m x 80m cells. This data cube contains 1,440,000 cells x 1,618 variables where the AI/ML technology was applied.
Figure 2: SensOre geophysical predictions identifying multiple intrusion types and an area of probable mafic/ultramafic rocks in the SE of the project
The application of the machine learning approach applied by SensOre to the database of geochemical, geological and geophysical information compiled over the Company’s AOI has demonstrated the highly gold prospective nature of the Music Well project. Application of the machine learning algorithms modelled the probability of gold systems within the AOI and more specifically the Music Well project. This required 107 variables for discrimination that were applied to the 80m by 80m cells within the AOI.
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.
Proposed issue of securities - AAU
Latest News
Latest Press Releases
Related News
TOP STOCKS
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.