- Augustus Minerals (ASX:AUG) uncovers copper sulphide mineralisation through RC drilling at its Minnie Springs prospect in WA
- The drill program is targeting high-grade zones of near-surface copper anomalies which lie within a 3km by 1km long copper anomaly, adjacent to the Minga Bar fault
- The mineralisation lies in multiple holes, travels 139 metres downhole, and is similar to quartz veining within a strongly propylitic altered and sheared monzogranite
- Augustus intends to use the knowledge gathered from its current drill program to inform its next strategy for exploration at Minne Springs
- AUG shares are up 3.23 per cent, trading at 16 cents at 10:45 am AEDT
Augustus Minerals (ASX:AUG) has intercepted copper sulphide zones in multiple reverse circulation (RC) holes through drilling at its Minnie Springs prospect in Western Australia.
The company’s drill program is targeting high-grade zones of near-surface copper anomalies, which lie within a 3km by 1km long copper anomaly, adjacent to the Minga Bar fault.
Mineralisation was observed in multiple holes and travels as deep as 139 metres downhole. The mineralisation is similar to quartz veining within a strongly propylitic altered and sheared monzogranite.
The types of sulphide intersected range from pyrite to chalcopyrite, chalcocite, and covellite. AUG Managing Director Andrew Reid said the project was now “vindicated” by the discovery of visible mineralisation.
“Mineralisation is spatially associated with intense silicification, quartz veins and potassic alteration, interpreted to be part of a porphyry-related hydrothermal system,” he said.
“These first drill holes into a previously untested three kilometre by one-kilometre Cu-Au anomaly represent the start of the discovery of a potentially new geological system which has received little modern-day exploration.”
The company intends to use the knowledge gathered from its current drill program to inform its next strategy for exploration at Minnie Springs.
AUG shares were up 3.23 per cent, trading at 16 cents at 10:45 am AEDT.