Rare Earth (REE) Ironstone Exploration Targets Identified At Ti-Tree Project

Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to advise that its early ongoing assessment of the Ti-Tree project has yielded positive results in the identification of potential ironstones that could host rare earths in several locations totalling more than 15kms of strike length.

Highlights

• >10kms of ironstone potential identified through mapping of geophysics and satellite imagery that could host rare earth elements (REE).
• Elevated radiometric thorium signatures over the mapped ironstones display a strong correlation, similar to the Hastings Technology Metals Yangibana project and Dreadnought Resources Yin project Mineral Resources immediately to the north of Augustus tenements.
• Ironstones in the Gascoyne often host very high concentrations of the two most sought after rare earth elements, Neodymium and Praseodymium, widely used in the manufacture of permanent magnets.

Augustus to date has identified at least 25 possible rare earth ironstone targets from airborne radiometric geophysics, which measures radioactive emissions from the earth’s surface (Figure 2).

Several high quality target areas have been the focus of attention at the prospects Cabbage Tree, and Macs Well, where strong thorium (Th) radiometric and iron oxide signatures exist coupled with possible identification of ironstones through satellite imagery show at least 10kms of possible ironstone formation outcropping at surface (Figure 1).

Figure 1. Macs Well and Cabbage Well REE targets, Aerial Photo (top), Thorium (Th) radiometric anomalies (middle) and SENTINEL-2 high-resolution, multi-spectral imaging (bottom) of Iron oxides.

Figure 2. Distribution of Th radiometrics anomalies showing possible REE ironstone occurrences.

Andrew Reid, Managing Director

“This initial assessment of the rare earth potential on the Augustus tenure highlights the discovery potential for the ground. This multi-layered data combination is a strong indication that ironstones which could host rare earth elements may be present within the Augustus tenure, similar in nature to existing deposits at Dreadnought and Hastings immediately to the north of the Augustus ground.

Ironstones are particularly abundant in the Gascoyne region and the ones that host rare earths are super elevated in concentrations of the two most important rare earth elements Neodymium and Praseodymium used in permanent magnets for EV’s and wind turbines.

Augustus has completed a highly successful IPO in which the Company raised $10m and we are now moving quickly to get on the ground for field checking of these exploration targets.”

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