- Augustus Minerals (ASX:AUG) has wound up drilling at its Ti Tree project in Western Australia
- This was the company’s maiden run
- Mineralisation found covers silver, copper, and molybdenum
- Further drilling on-site is slated for early Q2 of 2024 at the latest
- Shares last traded at 9.4 cents
Augustus Minerals (ASX:AUG) has wrapped up its maiden drill run at Ti Tree, highlighting what the assay results show.
Those results point towards a not-too-usual mix of mineral prospects – rigs intersected copper, silver, and molybdenum.
No less than 78 holes were sunk with RC drill rigs across six localities comprising AUG’s overall landholding.
Minnie springs of interest
Mineralisation was hit at Minnie Springs with the first 22 drill holes sunk at that prospective copper target hitting what it meant to.
Notably, silver grades were higher than copper.
With that said, copper mineralisation at Minnie was housed inside promising geology – disseminated and quartz-hosted chalcopyrite, a well-understood host rock for copper broadly.
More drilling at Minnie will kick off no later than early Q2 of CY2024 with both RC and diamond rigs to investigate further that lead. The company also hit copper intersections at the Copper Ridge asset.
Management comment
“Drilling at Minnie Springs has defined Cu-Ag-Mo mineralisation in several areas after having only tested the southern half of the 3km long Cu-Mo-Ag anomaly,” AUG Managing Director Andrew Reid said.
“The strength of the mineral alteration zones at Minnie Springs warrants further drilling in 2024.
“These good thicknesses of Cu and Mo now strongly validate the concept of Minnie having the potential to be large porphyry Cu system in a zone adjacent to the Minga Bar fault.”
Shares last traded at 9.4 cents.
