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February 26, 2024

Maiden Drilling Program at Ti-Tree Completed

Maiden Drilling Program at Ti-Tree Completed

Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to advise of the completion of its maiden drilling campaign at its 100% owned Ti-Tree project in the Gascoyne region of Western Australia.

  • 9,086m drilled in 78 holes across six project areas
  • Campaign designed to test extensive surface mineralisation identified through soil sampling and rock chip analysis
  • Visual observations of copper sulphide mineralisation in quartz veining in multiple holes at depth
  • Assays are due back progressively over the coming weeks.
  • Exploration and drilling activities to re-commence in Q1 2024

The drilling campaign included 78 holes totalling 9,086m of Reverse Circulation (RC) drilling. The program consisted of discovery drilling only and was designed to confirm historical results and to test near surface mineralisation at depth and along strike, with drilling having been limited to approximately 70m vertical depth.

Holes in the Crawfords, Nic’s Bore and Copper Ridge areas also intersected some visible disseminated mineralisation within quartz veins in the form of pyrite, malachite and chalcopyrite and assay are awaited.

Andrew Reid, Managing Director

“Our maiden drilling campaign following the IPO in May 2023 is now completed and has been a great success. The campaign was designed to test for mineralisation both at near surface and at depth and resulted in visually identifying mineralisation/veining in the majority of drill holes at our Minnie Springs copper-molybdenum-gold project.

Minnie Springs could represent a sizeable porphyry hosted copper deposit with the next step to be the completion of drilling in the remaining 50% of the copper-in-soil anomaly yet to be tested during the next drilling campaign in Q1 2024.”

Figure 1. Location map showing prospects drilled to date, Minnie Springs, Copper Ridge,Nick’s Bore, Crawford and Crawford South and COO Creek.

Table 1. List of RC holes completed by prospect location.

Figure 2. Minnie Springs soil sampling, rock chip and drilling location map showing location of the x-section A – A’.

Figure 3. Hole MSRC012 – showing visual pyrite – chalcopyrite – chalcocite – covellite mineralisation in zones from 127 – 139m downhole at the Minnie Springs prospect1.

The second northern-most line at Minnie Springs (Figure 2. MSRC 010 – 012) intersected multiple zones of copper sulphide mineralisation1 co-incident with chlorite-epidote alteration in hole MSRC012, which is characteristic of propylitic alteration commonly seen in in porphyry copper-molybdenum-gold deposits.

Click here for the full ASX Release

This article includes content from Augustus Minerals, 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.

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