RC Drill Program Commenced at Ti-Tree Project

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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