Gold and Precious Metals

Augustus Minerals strikes high-grade copper and precious metals at Ti-Tree project

Augustus Minerals (ASX: AUG) has obtained high-grade copper hits of up to 35% in rock chips collected recently at the Ti-Tree project in the Gascoyne Region of Western Australia.

The new rock chip samples, recently collected as part of an ongoing regional targeting program, also include 236 grams per tonne (g/t) silver, 10.1g/t gold and 5,000 parts per million molybdenum.

The samples were collected across a number of prospects within Augustus’ 3,600 square kilometre holding at Ti-Tree.

‘Untapped potential’

“These rock chips continue to highlight the untapped potential of the Ti-Tree Project to host significant precious and base metal mineralisation,” general manager of exploration Andrew Ford said.

“Mapping and sampling continue over both existing prospects and in virgin areas with exciting results.”

“Meanwhile, preparations are underway for the diamond drilling to test the deeper potential at Minnie Springs molybdenum-copper (Mo-Cu) porphyry.”

Work continues

The Augustus Minerals geology team collected 231 samples in June and continues to cover the ground at Ti-Tree.

The assays have now been returned for these samples, unveiling encouraging results from existing prospects as well as defining new prospects which have had no previously documented exploration.

Soil sampling continues along the strike of major structural trends hosting existing prospects.

Multi-metal mineralisation

Mr Ford said Ti-Tree has the potential to host significant precious and base metal mineralisation.

Drilling to test deeper potential at Minnie Springs is planned for Q3 2024 with assistance from a government co-funded drilling grant of up to $110,000.

The co-funded grant under the WA government’s Exploration Incentive Scheme is for two 700m diamond drill holes at the Minnie Springs prospect.

Exploration target

Minnie Springs hosts porphyry-related Mo-Cu mineralisation previously drilled and defined by Catalyst Metals (ASX: CYL).

A molybdenum exploration target of between 12Mt and 84Mt has been defined for the historic drilling area.

The first of the planned holes will test the potential high-grade zone beneath the existing molybdenum mineralisation; the second, deeper within the phyllic alteration zone.

Planning is also progressing for a versatile time domain electromagnetic max survey to be conducted in August over a number of zinc-lead-silver, uranium and copper-nickel-platinum group targets.

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