Australian Mines (ASX:AUZ) will use a EM survey to better understand the bedrock geology at its Marymia copper-gold-nickel project in Western Australia.
Most importantly the project is strategically located along strike (55 kilometres northeast) from Sandfire Resources’ (ASX:SFR) world class DeGrussa Copper-Gold Mine.
The survey will target the Jenkin Fault, which is thought to control the mineralisation at DeGrussa.
The survey is scheduled to take four weeks to complete with the final interpreted data being received by the company in late August.
Anomalies will be drill tested in the September quarter.
Considering the modest market cap. of just $3 million for AUZ, the company is highly leveraged to any exploration success.
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Mkt cap ! $25.36M | |||
| Open | High | Low | Value | Volume |
| 1.3¢ | 1.6¢ | 1.2¢ | $1.806M | 130.2M |
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