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Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to advise that a 3,400m reverse circulation (RC) drill program has commenced at the Ti-Tree Project, ~200kms east of Carnarvon in Western Australia. The program is designed to complete the first pass drill coverage of the 3.5km long soil copper anomaly located 300m northeast of the defined molybdenum mineralisation / exploration target estimate (Figure 1).
- 3,400m RC drill program has commenced at the Minnie Springs Cu-Mo-Ag porphyry prospect, with deeper diamond drilling planned for June.
- The drilling will follow-up on the 2023 program where MSRC0121 intersected:
- 18m @ 0.52% CuEq (0.37% Cu and 9.7 g/t Ag) from 94m downhole, and;
- 16m @ 0.69% CuEq (0.38% Cu and 19.4g/t Ag) from 121m downhole
- The drilling will also target the northern 2km of the strong copper-in-soil anomaly that has now had Heritage Clearance.
- A deeper diamond drilling program is planned for June to test the undrilled area between the molybdenum mineralisation and the 3.5km long copper-in-soil trend.
Andrew Ford, GM Exploration
“The 2023 program intersected one of the strongest copper intervals in this region to date. Combined with the extensive surface anomalism and the large nearby Minnie Springs Molybdenum Porphyry, we affirm our belief of the potential of a substantial mineral system at this project. Drilling will be conducted north, south and at depth of MSRC012 to further define extensions of the Minnie Springs copper discovery intersected last year. This program will also give us a first look at the northern half of the 2km long high-level copper anomaly.”
The deeper diamond program scheduled for June will provide drill coverage between the molybdenum mineralised core intrusion and the large copper-in-soil anomaly.
Figure 1. Minnie Springs existing and planned RC Drilling over gridded copper in soil geochemistry (blue shades are l< 40ppm Cu, red colours are > 90ppm Cu in soils). Historic drilling has defined the molybdenum rich zone. Copper grades shown as bar graphs.
In parallel with the drilling, the extensive soil sampling program that commenced in late February (Figure 2) continues with initial results expected from Moogooree and Howells Gap in the next few weeks.
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AUG:AU
High grade Massive Sulphide Intercepts Confirmed at Oval
HIGHLIGHTS:
- OVD027 confirms the continution of high grade massive sulphide from OVD0211 with an intercept of 6.1 metres of 4.16% Cu, 3.51% Ni, 0.G3g/t E3, and 0.13% Co from G8.2 metres encountered between broader high grade zones of:
- A dense disseminated intercept - 26.2 metres of 0.44% Cu, 0.52% Ni, 0.12g/t E3, and 0.03% Co from 72.0 metres and
- A net textured intercept - 15.3 metres of 1.15% Cu, 0.79% Ni, 0.35g/t E3, and 0.04% Co from 104.3 metres;
- A high grade broad intersection is confirmed at the central part of the Oval area by OVD026. It includes a massive sulphide intercept in hole OVD026 of 1.8 metres of 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co from 105.0 metres within broader mineralisation of:
- 19.8 metres of 1.23% Cu, 0.98% Ni, 0.36g/t E3, and 0.05% Co from 91.2 metres.
OVD026 is located 100 metres northwest of the previously announced 8.8 metres of massive sulphide identified in drillhole OVD021.
On completion of the Phase 2 exploration work and receipt of all assays, Managing Director Gan-Ochir Zunduisuren, commented:“The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area, given Oval is a greenfields discovery.
The 2025 exploration program will focus on obtaining information on the size/metal content potential of the Oval Cu-Ni-PGE mineral system as well as targeting the possible deeper magmatic sources at Oval. Broader exploration is also planned at potential extensions of Oval and nearby look-a-like prospects. We look forward to updating shareholders on progress, with drilling expected to commence in around 8 weeks”.
Summary of Phase 2 exploration drilling at Oval Cu-Ni-PGE project
The Company’s recent drilling work has predominantly focused on finding high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. The multiple intercepts of massive sulphide mineralisation with different ratios of metal contents throughout the Oval gabbroic intrusion is highly encouraging for the presence of one or more deeper sources of high grade mineralisation in the opinion of ABM.
Figure 1. Plan view of drillhole locations on high resolution magnetics map (RTP)
Drillhole OVD02c
Drillhole OVD026 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD007_L2_B (reinterpretation of OVD007_L2_A2 by Southern Geoscience Consultants), which exhibits a conductance of 1,000 siemens. The drilling intersected a total of 1G.8 metres of mineralisation with 1.23% Cu, 0.G8% Ni, 0.36g/t E3, and 0.05% Co from G1.2 metres including;
- 4.8 metres of @ 0.45% Cu, 0.43% of Ni, 0.14g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 91.2 metres,
- 6.6 metres of @ 1.56% Cu, 0.G0% Ni, 0.50g/t E3, and 0.04% Co of net textured mineralisation from G6.0 metres,
- 2.4 metres of @ 1.52% Cu, 1.3G% Ni, 0.43g/t E3, and 0.07% Co of semi massive sulphide mineralisation from 102.6 metres,
- 1.8 metres of @ 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co of massive sulphide mineralisation from 105.0 metres, and
- 4.2 metres of @ 0.57% Cu, 0.45% of Ni, 0.21g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 106.9 metres (Table 1 provides a detailed breakdown of mineralisation intervals).
OVD026 is located in the Oval area, which is approximately 100 metres northwest of the previous intersection identified in drillhole OVD0213. This intercept may represent an extension of the known massive sulphide mineralisation in the Oval area and highlights the potential for further expansion of massive sulphide zones within the broader prospect area (Figures 1 and 3).
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This article includes content from Asian Battery Metals PLC, 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.
