- Augustus Minerals (ASX:AUG) makes significant progress in its exploration efforts at the company’s acreage in WA’s Gascoyne during the December 2023 quarter
- The company wrapped up a significant drilling program at its Peak Bore locality
- Augustus also wrapped up its maiden reverse circulation drilling program at Ti-Tree
- The drilling effort comprised 78 holes for a total of 9086 metres
- Augustus Minerals maintains a cash position of $5.75 million at the quarter’s end
- AUG shares last traded at 12.5 cents
Augustus Minerals (ASX:AUG) has made significant progress in its exploration efforts at the company’s acreage in WA’s Gascoyne during the December 2023 quarter.
During the quarter, the company wrapped up a significant drilling program at its Peak Bore locality, intersecting copper oxide and sulphide rock chips, following the discovery of a large lithium anomaly.
Not only that, Augustus concluded its maiden reverse circulation drilling program at Ti-Tree.
The program was aimed at testing six priority targets where soil and/or rock chip anomalies had been generated.
The drilling effort comprised 78 holes for a total of 9086 metres. It spanned across Minnie Spings, CCO Creek, Copper Ridge, Crawford Bore, Crawford South and Nick’s Bore.
MSRC012 at Minnie Springs intersected multiple blebby to disseminated copper sulphide zones from 82 to 139 metres downhole.
The company has announced that assays from the drilling are expected in the first quarter of this year.
As of the end of the quarter, Augustus maintains a cash position of $5.75 million.
For more details on Augustus’ exploration plans for 2024, click here.
AUG shares last traded at 12.5 cents.