AUG 4.26% 4.5¢ augustus minerals limited

Ann: High Grade Copper Rock Chips to 18% at Ti-Tree, page-19

  1. 30,352 Posts.
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    I would think they are relying on the government's geophysics information for starters, given that they just got a government grant to diamond drill Minnie Springs and presumably there was consultation about the location and direction of the drill sites. Government does not waste money these days particularly with mining they want results but also I can see them making available their latest geo information to the holder of the tenements. Why wouldn't they? They want the grant to work for them. It's not a gift.

    Although Minnie Springs is labelled an Mo target, the underlying intention is to determine the extent of the Cu Mo etc as part of a much bigger system and tie in this with the surface sampling on the ground to the NW, which is connected to the mineralisation that DRE has, the 'Money intrusion' in green on Fig 4 of the ann.
    This is how I interpret the ann which gives information on the grant and pretty much sets out what I'm saying here.

    They would not have shading in the maps for no reason, that has to be based on magnetic resonance mapping. I don't think they are so much 'pivoting to Cu' they clearly have Cu in their sights here, it's just that they could be attempting at this point to delineate the limits of Cu mineralisation. So you go to where you think the edge traces might be IMO. But also look at the schematic cross section of the Cu porphyry (denoted as Cp but it's clearly copper see the legend) in fig 3. So they may be trying to skewer that in an impressive width because they may think they have found a source. Assays from the previous drilling for Cu are due any day now, and the thing to note with that, they would no doubt have hand held devices that would give them visual readings. But sticking to the JORC they have not mentioned this.

    It's just that these guys are not big on communication. It's always the same with early days exploration with a very few people wearing a lot of hats.
    They don't even seem to have a discernible CEO. Fine by me if they have the geo smarts and the connections to pull this off. It's also clear they have a can-do guy with Brian Roden as Chairman who knows about infrastructure and putting a mine together because they are fresh out of proximate rail and other infrastructure electricity, etc. (an aside made by Tony Rovira at Diggers and Dealers a few years ago now, to the MD of DRE, who he was following, which I thought was a bit unnecessary but all's fair in mining conferences).

    The Chairman's role is very much about long term vision and co-ordination. Many forget this distinction with CEOs. Just from the photos DRE look like no bs sort of people. Their Anns are not fluff you have to read every word carefully and let it sink in. IMO.

    FWIW I held AZS from early days until yesterday and the main thing is to have experts running the show. Add patience and a highly prospective area or more.

    Taking a closer look at AUG because I can tell you that many times people wrote off AZS but I never did because I respect expertise. I can't tell you the number of times posters would accuse me of being Mrs Rovira or similar.
    Because I like to be fair.
    Never mind.

    The rest is history.

    (Feel free to correct me on anything. I'm here for robust discussion so don't hold back).

 
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