AMG At lows. Self financing.
19 July 2018
ASX MARKET RELEASE (ASX: AMG)
Additional High-Grade Cobalt, Copper and Gold Identified at
the Burra Project, South Australia
HIGHLIGHTS
§ High-grade Cobalt up to 3,570 ppm (0.357 % Co - BUPR0043) identified
in rock chip samples from reconnaissance field work at the Cobalt
Copper, and Gold Burra Project, South Australia.
§ Rock chip analysis also returned high grade Gold (6.9 g/t Au) and Copper
(25 % Cu).
§ Historic drilling focused on Copper mineralization with no historic
assaying for Cobalt and limited assaying for Gold.
§ Existing Princess Royal JORC 2004 Inferred Mineral Resource1 estimate
of 216,586 te @ 0.96% Cu totalling 2,083 te of contained Copper does
not include Cobalt and Gold values (ASX: PNX 19 September 2017).
§ Cobalt up to 6,920 ppm was also identified in recently found rock chip
samples, 30 km to the north along the same strongly mineralised
northwest structural corridor (ASX: AMG 7th May 2018).
§ Highlights the potential for further new Cobalt discoveries within
Ausmex’s controlled 7,010 sq. Kms of tenure along a 30 km corridor of
the underexplored, highly prospective Burra Cobalt-Copper-Gold
Project.
§ A maiden RC drilling program to target high-grade Cobalt is planned to
commence in August. Drilling approvals are in place and awaiting drilling
contractor mobilisation.
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