
November 08, 2022
Copper producer Austral Resources Australia Ltd (ASX:AR1) (“Austral” or the “Company”) is pleased to announce its planned development and exploration program for the remainder of calendar 2022 (CY22) and the 1st half of calendar 2023 (H1CY23).
Key highlights:
- Drilling of prioritised phase 1 Anthill 2.0 copper oxide exploration targets within the existing ML are currently in progress.
- Drilling of phase 1 McLeod Hill and Lady Annie copper oxide exploration targets scheduled to be completed in 2022, both targets on existing ML’s.
- Copper Oxide Targets in 2023 include the Drifter trend where recent surface rock chip samples assayed at 16.05% Cu, highly prospective known targets adjacent to the Anthill open pit mine and targets within the Glencore JV.
- Copper Sulphide targets in 2023 include Lady Colleen where Austral continues to define a high- grade zone, Enterprise where Austral reported a Maiden Mineral Resource, Flying Horse, Lady Annie, Investigator and Neptune.
- Flying Horse and Lady Annie have existing Mineral Resource estimates. In 2023 Austral will explore for additional high-grade oxide and sulphide copper mineralisation, including lower-tonnage higher-grade zones within the sulphide mineralisation.
- Austral continues leveraging off the material existing legacy datasets to accelerate the exploration to discovery pipeline.
- $10m budgeted for exploration over 2023 and JV discussion continue with multiple parties.
Austral’s Exploration Strategy Progressed
As previously reported, Austral has committed to an annual exploration and development budget of $10M1.
Austral’s current total JORC compliant Mineral Resource Estimate of 60Mt @ 0.7%Cu, hosts 420,000t of contained copper2. Within this headline number, mineralisation by type is approximately 50% sulphide, 25% transitional and 25% oxide. Austral is constantly reviewing this resource inventory, with the dual aims of expanding and commercialising it.
The Company’s key exploration activities continue to be:
- Extend mine life beyond the current four years at Anthill by discovering additional copper oxide ore;
- The focus in 2022 and 2023 are targets on existing mining leases and/or within 50km of the Mt Kelly SX-EW plant
- Increase the current JORC compliant Mineral Resource estimate of 420kt of contained copper
- Monetise Austral’s current JORC compliant sulphide Mineral Resources of 210kt of contained
- copper
- Explore for primary copper and base metal sulphide mineralisation within the Company’s vast 2,100km2 of exploration tenure.
CY22 copper oxide exploration has systematically progressed
Lady Annie has an existing JORC Compliant resource of 12.2Mt @ 0.76% Cu at a 0.3% Cu cut-off2. Phase 1 exploration drilling is targeting geophysical targets (Figure 1). Exploration program details:
- Lady Treska - geophysical VTEM anomaly occurs with a coincidental gravity anomaly offset 100m to the west. This feature is comparable with the adjacent Lady Annie VTEM anomaly
- Big Nose - the largest geophysical gravity anomaly on ML displays a coincidental spatial distribution of high amplitude gravity with anomalous Cu in soils >500ppm
- Planned drilling in 2022 of prioritised 13 holes for 1,450m. All CHC & CCA in place. Access and drill pads are being developed.
Click here for the full ASX Release
This article includes content from Austral Resources, 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.
AR1:AU
The Conversation (0)
24 March
5 Best-performing Copper Stocks on the TSX in 2026
Copper stocks are being supported by an increasingly constrained supply environment in 2026.Structural demand drivers, including electrification, digital infrastructure and industrial expansion are underpinning long-term growth, particularly in emerging markets. On the supply side, however,... Keep Reading...
24 March
Top 5 Junior Copper Stocks on the TSXV in 2026
Junior copper stocks are seeing significant support from the copper supply and demand story in 2026 as companies look to make the next big discovery of the red metal.Copper prices soared at the start of the year amid an increasingly tight supply situation. The expectation is that copper demand... Keep Reading...
24 March
Infographic: Copper Market Facing Pressure as AI Demand Accelerates
The buildout of artificial intelligence (AI) infrastructure is running on a timeline the copper industry cannot match, sharpening concerns over whether supply can keep up with demand.Data compiled by MiningVisuals shows that a new AI data center typically reaches operation in 18 to 23 months,... Keep Reading...
20 March
Top 5 Canadian Mining Stocks This Week: Getty Copper Gains 167 Percent
Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian news impacting the resource sector.On Monday (March 16), Statistics Canada released consumer price index data for February. The report... Keep Reading...
18 March
ECC Ventures 5 Corp. enters Definitive Agreement with Bayrock Resources for Qualifying Transaction
ECC Ventures 5 Corp. (the "Company" or "ECC5") (TSX-V: ECCV.P), a capital pool company listed on the TSX Venture Exchange Inc. (the "Exchange"), further to its press release of November 12, 2025, is pleased to announce that it has entered into a bid implementation agreement dated March 9, 2026... Keep Reading...
18 March
Top 5 ASX Copper Stocks in 2026
Copper prices have been elevated since the second half of 2025 amid growing supply and demand concerns, with the metal hitting new highs on the COMEX and London Metal Exchange (LME) in late January. These concerns stem from increasing demand for copper from urbanisation, the energy transition... Keep Reading...
Latest News
Interactive Chart
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00





