Welcome to the latest update from Augustus Minerals Limited!
We are excited to share the latest developments regarding the Minnie Springs High Grade Cu-Mo Porphyry Targeting project. The Company has been hard at work, and we have some promising updates to share with our investors and stakeholders.
Update on Geological Modelling
Augustus Minerals is thrilled to announce the progress made in the geological modelling of mineralisation and alteration mapping at the Minnie Springs Copper (Cu)-Molybdenum (Mo) project in the Gascoyne Region. Recent RC drilling and reprocessing of historic IP survey data have provided valuable insights into the project.
- Re-processing of historic Induced Polarisation (IP) geophysics has highlighted the potential for near-surface extensions to existing Mo mineralisation at the Minnie Springs Cu-Mo porphyry project.
- Potential has been identified for higher-grade Cu and Mo zones at depth below the “tilted” porphyry model.
- Cu mineralised quartz veins drilled in the 2024 RC program may indicate remobilization from higher-grade zones at depth, influenced by shearing related to the regional Minga Bar fault system.
- Previous drilling results have shown mineralisation, geology, and alteration halo consistent with the zoning of a large porphyry copper/molybdenum system.
- Two holes with EIS funding are planned to test for higher-grade zones at depth.
Statements from Andrew Ford, GM Exploration
Andrew Ford, GM Exploration at Augustus Minerals, stated, “Modelling of the Minnie Springs system has highlighted potential extensions to existing near-surface Mo-rich zones, as well as the potential for higher-grade Cu-Mo zones at depth.”
Minnie Springs Project Details
The Minnie Springs project hosts porphyry-related Cu-Mo mineralisation previously drilled by Equatorial Mining and Catalyst Metals. A molybdenum Exploration Target has been defined for the historic drilling area, indicating significant potential for molybdenum deposits.
Further details regarding the project, including exploration target size estimates and drilling results, can be found in the updated announcement from Augustus Minerals.
Geophysics Updates
Southern Geoscience Consultants (SGC) conducted a reprocessing of two IP Surveys from 1997, highlighting elevated chargeability over the Mo-rich zone. The chargeability anomaly over the Mo mineralisation reflects a combination of disseminated pyrite and molybdenite observed in historic drilling.
For more detailed information and visual aids, including tables and figures, please refer to the full ASX Release linked below.
Disclaimer
This article contains information from Augustus Minerals and is published on Investing News Australia for informational purposes. It is important to conduct proper due diligence before making any investment decisions based on the information provided here.
Click here for the full ASX Release: ASX Release