Proactiveinvestors Australia

Augur Resources’ partner Goodrich strikes copper gold in its first hole drilled at Yeoval

Mon, 17 Sep 2012 13:20:00 +1000

Augur Resources (ASX: AUK) joint venture partner Goodrich Resources (ASX: GRX) has intersected copper-gold mineralisation in its first drill hole at the Yeoval deposit in New South Wales, with results indicating the potential for a significant copper-gold orebody.

The hole was drilled to extend the eastern of two mineralised zones, delivering an intercept of 44.5 metres at 0.46% copper, 0.5 grams per tonne (g/t) gold, including 6.1 metres at 1.28% copper, 1.33g/t gold and 19.1 metres at 0.6% copper and 0.66g/t gold.

Yeoval is strategically located in the same region that hosts Rio Tinto’s (ASX: RIO) 2.26 millon gold ounce and 1.57 million copper tonne Northparkes Mine, Newcrest Mining’s (ASX: NCM) 39.4 million gold ounce and 6.96 million copper tonne Cadia Valley Mine, and Golden Cross Resources' (ASX: GCR) 1.69 million gold ounce and 0.66 million copper tonne Copper Hill Mine.

Goodrich is encouraged by the results of the first hole. Although some of the goals of the hole were thwarted by the dolerite dyke, the hole has provided a valuable insight into the Yeoval mineralisation that may provide a vector to a high grade copper-gold orebody.

The known Yeoval deposit comprises two main near-surface zones of bornite-chalcopyrite (copper sulphide) mineralisation.

Initial drilling in 1972 produced best intercepts of 42.7 metres at 0.93% copper and 18 metres at 0.8g/t gold.

Drilling in 2008 by Augur produced best intercepts of 90 metres at 0.9% copper, 0.14g/t gold and 50 metres at 0.54% copper and 0.48g/t gold.

This drilling enabled Augur to define an Inferred JORC Resource of 12.9 million tonnes at 0.38% copper and 0.14g/t gold.

There is still plenty of exploration upside, however, with the mineralisation remaining open on at least three sides – east, south and to depth – with additional drilling expected to increase the Resource.

In 2009, encouraging grades of 16 metres at 0.72% copper and 0.84g/t gold were obtained on the southeast margin of the deposit. The intercept was bornite-rich, suggesting this area may be a focus for mineralisation.

Regional exploration potential

Several regional exploration opportunities are evident within the Yeoval exploration licence.

A deep-seeking induced polarisation survey was completed in 2011 using the offset pole-dipole array configuration.

The pattern of the induced polarisation responses suggests that the Yeoval resource is part of a larger mineralised system.

The strongest of the individual responses is located 500 metres to the southeast of the known mineralisation, while the largest response is located 850 metres to the northeast.

The former has been targeted by two holes, one of which intersected interesting but uneconomic veinlets of bornite-chalcopyrite with individual 1 metre assays of 1.79% copper and 0.8g/t gold and 0.87% copper and 1.35g/t gold.

Further induced polarisation surveys may refine the position of the response so that future drilling can better target the focus of the mineralisation.

The upside is that the veining is bornite-rich and carries attractive grades of gold. The other anomalies revealed by the survey remain undrilled.

Joint venture structure

Augur holds a 25% interest in the Yeoval project while Goodrich holds a 58.57% interest in unlisted explorer Zodiac Resources, which has a 75% interest in the project.

The Yeoval project covers around 147 square kilometres and has potential for porphyry copper-gold and molybdenum mineralisation, epithermal gold and silver mineralisation and magnetite rich copper-gold mineralisation.

The project area hosts numerous near surface copper +/- gold occurrences and several small historical mines, within altered Naringla Granodiorite of the Yeoval complex.

Prior exploration has targeted shallow outcropping mineralisation. Significant potential exists in areas of shallow alluvial cover.

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Augur Resources gains new substantial shareholder

Mon, 17 Sep 2012 08:40:00 +1000

Augur Resources (ASX: AUK) has added a new substantial shareholder to its register after Peng Lim Oon acquired a 5.44% stake in the company.

Oon purchased the shares between 29 June 2011 and 12 September 2012 for a total consideration of A$545,730, providing an average entry price of around $0.05.

He now owns around 11.2 million shares in Augur.

Highlighting the potential of Augur, the company is advancing a Pre-Feasibility Study at its Randu Kuning deposit in Indonesia after recently defining an initial Resource of 1.54 million ounces gold equivalent at a low discovery cost of $3.05 per ounce.

The breakdown is 1.01 million ounces of gold and 200 million pounds of copper, with the Resource from surface.

There is still plenty of exploration upside with five significant near surface targets, and mineralisation open at depth as well as to the south and west.

Drilling has indicated extensive gold-copper porphyry mineralisation from surface to below 400 metres depth.

There is also high prospectivity of further mineralisation to the south and north of Randu Kuning.

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Augur Resources raises A$1.1m to advance Randu Kuning Pre Feasibility Study

Wed, 12 Sep 2012 16:15:00 +1000

Augur Resources has received good support from existing and new shareholders which has resulted in the successful raising of $1.1m to advance a Pre-Feasibility Study of the Randu Kuning deposit in Indonesia, where it has so far defined a 1.54 million ounce gold equivalent Resource at a low discovery cost of $3.05 per ounce.

Augur Resources appoints Richard Edwards as company secretary

Mon, 03 Sep 2012 12:50:00 +1000

Augur Resources (ASX: AUK) has appointed Richard Edwards as its company secretary, replacing Marcelo Mora who resigned.

Edwards is the company secretary of unlisted public company Nickel Mines Limited and has worked for over 10 years providing financial reporting and company secretarial services to a range of publicly listed companies in Australia with a focus on the mining sector.

Augur expressed its gratitude to Mora for his exemplary contribution since he was appointed to the role in October 2007.

The company has started a Pre-Feasibility Study for its flagship Wonogiri project in central Java that is targeted at completing an initial pit design during 2012 and the Pre-Feasibility Study itself by May 2013.

The company has to date defined a combined JORC Measured, Indicated and Inferred Resource of 1.54 million gold equivalent ounces at the Randu Kuning gold‐copper deposit within the project.

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Augur Resources propels interest in Wonogiri Project to 80%

Wed, 29 Aug 2012 11:57:00 +1000

Having met its earn-in requirement to acquire 80% of the Wonogiri project, Augur Resources has started a Pre-Feasibility Study for the project - which already hosts the 1.54 million gold equivalent ounce deposit at Randu Kuning.

Augur Resources secures direct majority ownership of Wonogiri licence in Indonesia

Thu, 09 Aug 2012 16:51:00 +1000

Augur Resources’ ownership of its interest in the Wonogiri copper- gold project in Indonesia has been secured with the company now holding a 90% interest in PT Alexis Perdana Mineral, holder of the Wonogiri licence, following approval of its conversion to an official foreign owned company.

Augur Resources launches SPP to advance prefeasibility study at the Randu Kuning deposit

Fri, 03 Aug 2012 16:20:00 +1000

Augur Resources (ASX: AUK) has launched a share purchase plan which along with existing cash reserves will be used to support the company's ongoing operational costs, including the continuation of a prefeasibility study of the Randu Kuning deposit at the company's Wonogiri project in central Java, Indonesia.

The company is offering shareholders the opportunity to subscribe for up to A$15,000 worth of new shares in the company priced at A$0.04 each, or a 17% discount to the volume weighted average share price in the five trading days prior to 3 August 2012.

The maximum number of shares that can be issued under the Share Placement Plan is 53,156,414 shares.

Proceeds from the placement will be used to complete the earn-in component of the deal with PT Oxindo Exploration that allows Augur to increase its stake in Wonogiri to 80% from 51% by spending a further A$225,000 on exploration and development by early December 2012, and to continue the Pre-Feasibility Study for the Randu Kuning gold copper deposit at the project.

All directors in Augur plan to participate in the placement to their maximum entitlement.

Randu Kuning

Augur has delivered a JORC Resource of more than 1.54 million ounce of gold equivalent at the Randu Kuning deposit and has identified the potential for the definition of further resources with the resource open to the south, east and at depth, and no forestry restrictions on the deposit.

This potential is further enhanced with multiple epithermal targets available for additional drill testing.

With the ability to produce concentrate grades of up to 21.2% copper and 90.6g/t gold, Augur has further demonstrated the potential of the Randu Kuning porphyry deposit.

In mid-May Augur delivered to the market favourable metallurgical results for the Wonogiri project which showed high recoveries of up to 89% gold and 93.4% copper from the Randu Kuning porphyry deposit.

Importantly, these recoveries were achieved through simple flotation testing.

Further upside is that detailed analysis of the concentrate indicated that it contained silver of up to 77.3g/t silver.

The concentrate appears to be high quality with very little lead (0.04%), zinc (0.09%) and arsenic (0.02%).

Wonogiri covers an area of 3,928 hectares within the Sunda‐Banda arc, an area considered prospective for epithermal gold and porphyry copper‐gold mineralisation.

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Augur Resources surpasses expectations with 1.5Moz maiden gold copper resource at Randu Kuning

Tue, 10 Jul 2012 11:34:00 +1000

To deliver a maiden Resource of over 1.5Moz gold equivalent for the Randu Kuning deposit in just over a year for less than $4/oz is a major achievement for Augur. The market has not yet factored in the intrinsic value of the company's resource relative to its Market Cap.

Augur Resources: Farm-in terms secured for Yeoval project

Thu, 24 May 2012 14:40:00 +1000

Augur Resources (ASX: AUK) is set to realise the value of the company’s non-core Yeoval Project in New South Wales, with a Farm-in by partner Zodiac to progress.

The Yeoval Project covers 147 square kilometres, and is prospective for porphyry copper-gold and molybdenum mineralisation, epithermal gold and silver mineralisation and magnetite rich copper-gold mineralisation.

It includes the Yeoval Porphyry deposit, which hosts an Inferred JORC Resource of 12.9 million tonnes at 0.38% copper, 0.14% gold, 120.1 parts per million molybdenum and 2.2 grams per tonne silver.

The resource remains open at depth, to the east and to the south.

Under the modified terms of the Farm-in agreement for Yeoval, Zodiac will pay $245,000 cash to Augur and transfer 1.25 million shares in Goodrich Resources (ASX: GRX), at a price of $0.20 per share.

In addition, Zodiac can pay $2 million to take up Augur’s remaining 25% share in the Yeoval Project during the Farm-in period.

Augur will be free carried on the project for a further two years. Following the Farm-in period, the company can choose to contribute 25% to expenditure on the project, or progress to a free-carried net smelter royalty of 2.5%, limited to $2 million.

The Farm-in agreement with Zodiac will allow Augur to focus its attention on its more advanced projects, which form the core of the company’s strategy.

These include the company’s flagship Wonogiri project in Indonesia, which recently returned favourable metallurgical results from simple flotation testing.

Mineralisation from the Randu Kuning porphyry deposit returned high recoveries of up to 89% gold and 93.4% copper.

Augur has a 51% stake in the project and is working to earn 80% of the project by spending $2 million on exploration and development by early December 2012.

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Augur Resources: Wonogiri proves ability to deliver high quality marketable copper, gold concentrates

Wed, 16 May 2012 13:18:00 +1000

With the ability to produce concentrate grades of up to 21.2% copper and 90.6g/t gold, Augur has further demonstrated the potential of the Randu Kuning porphyry deposit, part of the Wonogiri project in Indonesia. It is evolving into a major gold copper project.

Augur Resources director increases stake over April and May

Wed, 02 May 2012 12:00:00 +1000

Augur Resources (ASX: AUK) director Justin Werner has increased his stake in the company, buying up 170,000 shares over two days.

Over April 30 and May 1, Werner spent a total of $9860 at an average price of A$0.058 to purchase the shares in two on market trades.

Werner now owns 1.45 million directly held shares and 3.7 million indirectly held shares, along with 5 million unlisted options, exercisable at A$0.28 and expiring on April 30, 2013.

A recent broker report placed a share price target of A$0.34 on Augur, based on the company’s operations in Indonesia.

In April, Augur announced the continuation of a high grade zone at the Wonogiri gold-copper project, with two diamond drill holes intersecting up to 104.1 metres at 1.08 grams per tonne gold.

Wonogiri covers an area of 3,928 hectares and has large scale potential given the drill results to date and structural zone similarities to major porphyry deposits.

A number of significant porphyry deposits sit along this zone including Newmont Mining Corporation’s 914 million tonne at 0.53% copper and 0.4g/t gold Batu Hijau mine and Intrepid Mines’ (ASX: IAU) 1.7 billion tonne at 0.41% copper and 0.46g/t gold Tujuh Bukit deposit in eastern Java.

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Augur Resources unveils continuation to high grade gold, copper zone at Wonogiri

Tue, 17 Apr 2012 11:00:00 +1000

Augur Resources (ASX: AUK) has discovered the continuation of a high grade zone at its Wonogiri gold-copper project in Indonesia.

Two diamond drill holes produced intersections including 104.1 metres at 1.08 grams per tonne (g/t) gold and 0.25% copper from 106 metres from the Randu Kuning porphyry prospect.

This interval included 32 metres at 1.66g/t gold, 0.33% copper and 1.7g/t silver from 164 metres, which equates to 32 metres at 2.25g/t gold equivalent.

One hole was drilled to test the eastern edge of the Randu Kuning porphyry zone up dip of a previously reported broad intersection of 289 metres at 0.68g/t gold equivalent.

Highlighting the depth potential of the Randu Kuning prospect, the hole ended in mineralisation, with the final 2.1 metre sample returning 0.91g/t gold and 0.17% copper.

The other hole was drilled to locate the western edge of the mineralised system.

Importantly, this hole located mineralisation further west than previous drilling and suggests further widening of the mineralised system with depth.

The hole finished in mineralisation with the final 2 metres returning 1.17g/t gold and 0.44% copper.

Augur is targeting the completion of a JORC Resource in the June quarter 2012.

New targets near Wonogiri

In February Augur identified a new epithermal prospect at Wonogiri, 690 metres southeast of the Randu Kuning prospect.

The newly discovered Gawe prospect was identified by drilling, which returned:

- 15 metres at 0.6 grams per tonne (g/t) gold and 3.2g/t silver from 38 metres;
- 12 metres at 0.25g/t gold and 1.5g/t silver from 60 metres; and
- 22 metres at 0.33g/t gold and 3.1g/t silver from 84 metres.

The results from the Gawe prospect highlight the prospectivity of targets close to Randu Kuning.

Comment

The Wonogiri project, which covers an area of 3,928 hectares, has become the flagship project of the company.

The large scale potential is evident given the drill results to date and the structural zone similarities to significant porphyry deposits.

Underpinning the bulk tonnage potential is the mineralisation at Randu Kuning which has been identified from surface and remains open at depth.

In addition, the porphyry mineralisation remains open to the north and to the west.

The project lies within the Sunda‐Banda arc, an area considered prospective for epithermal gold and porphyry copper‐gold mineralisation.

A number of significant porphyry deposits sit along this zone including Newmont Mining Corporation’s 914 million tonne at 0.53% copper and 0.4g/t gold Batu Hijau mine and Intrepid Mines’ (ASX: IAU) 1.7 billion tonne at 0.41% copper and 0.46g/t gold Tujuh Bukit deposit in eastern Java.

Augur Resources intersects 289 metres at 0.68g/t gold at Wonogiri project, Indonesia

Fri, 30 Mar 2012 11:40:00 +1100

Augur Resources (ASX: AUK) has intersected 289 metres of mineralisation at an average grade of 0.68 grams per tonne (g/t) gold equivalent at the Wonogiri gold copper project in Indonesia.

Results from this drilling program have defined the western boundary of the mineralisation, which will be used in the estimation of a JORC Resource, targeted for the June quarter 2012.

Highlights from the latest results include:

- 289 metres at 0.68g/t gold equivalent from 156 metres, including 17 metres at 1.46g/t gold equivalent;
- 88 metres at 0.82g/t gold equivalent from 96 metres; and
- 96 metres at 0.52g/t gold equivalent from 224 metres.

These results indicate that mineralisation at the Randu Kuning porphyry deposit widens at depth. Gold and copper mineralisation extends from the surface to more than 420 metres and remains open at depth.

Interpretation of geological data indicates that mineralisation could extend further south than the area currently defined by drilling.

New targets near Wonogiri

In February Augur identified a new epithermal prospect at the Wonogiri Gold-Copper Project in central Java, 690 metres southeast of the Randu Kuning porphyry.

The newly discovered Gawe prospect was identified by drilling, which returned:

- 15 metres at 0.6 grams per tonne (g/t) gold and 3.2g/t silver from 38 metres;
- 12 metres at 0.25g/t gold and 1.5g/t silver from 60 metres; and
- 22 metres at 0.33g/t gold and 3.1g/t silver from 84 metres.

Mineralisation in the Gawe prospect occurs mainly within a dioritic crackle breccia, the extent of which is unknown. Breccias associated with porphyries can host major mineralisation.

The results from the Gawe prospect highlight the prospectivity of targets close to Randu Kuning. Positive gold results from drilling north of Randu Kuning include:

- 5 metres at 1.39g/t gold from 79.5 metres; and
- 1 metre at 1g/t gold from 220 metres.

Analysis

The Wonogiri project has become the flagship project of the company as drilling continues to indicate a significant area of mineralisation associated with the Randu Kuning porphyry system.

Significantly, mineralisation at Randu Kuning has been identified from surface and remains open at depth.

In addition, the porphyry mineralisation remains open to the north and to the west.

Drilling during 2012 will be aimed at defining the edges of the system.

Given the drill results to date and the structural zone similarities to significant porphry deposits, clearly Wonogiri is shaping up as a significant project with large scale potential which should become more defined in 2012.

Augur Resources director buys more shares on market

Tue, 27 Mar 2012 14:00:00 +1100

Augur Resources (ASX: AUK) director Justin Werner has acquired a further 200,000 shares on market for a consideration of A$15,000, or around $0.07 per share.

This increases his direct shareholding to nearly 1.3 million fully paid shares.

Indirectly, Werner also holds 3.7 million fully paid shares and 5 million unlisted options exercisable at $0.28 on 30 April 2013.

This month Augur received a speculative buy rating and a price target of more than four times its current share price from a broker due to its Indonesian gold opportunities.

The company’s Randu Kuning porphyry prospect, part of the Wonogiri gold-copper project in Indonesia, continues to reveal the extent of mineralisation, delivering wide intersections of up to 118 metres at 0.98 grams per tonne (g/t) gold equivalent from 245 metres.

Drilling at Randu Kuning is indicating a significant gold and copper porphyry system with potential additional mineralisation at depth and to both the north and south.

Intersections from one hole indicate gold mineralisation from surface to more than 300 metres deep on the eastern side of the Randu Kuning deposit.

Additional anomalous gold zones were detected at over 450 metres below surface.

The Wonogiri project, which has become Augur’s flagship project, lies within the Sunda‐Banda arc, an area considered prospective for epithermal gold and porphyry copper‐gold mineralisation.

A number of sizeable porphyry deposits sit along this zone including Newmont Mining Corporation’s (ASX: NCM) 914 million tonne at 0.53% copper and 0.4g/t gold Batu Hijau mine and Intrepid Mines’ (ASX: IAU) 1.7 billion tonne at 0.41% copper and 0.46g/t gold Tujuh Bukit deposit in eastern Java.

The large scale potential of Wonogiri is evident given the drill results to date and the structural zone similarities to other porphyry deposits.

Augur Resources: Price target of $0.34 based on Indonesian gold opportunities

Thu, 15 Mar 2012 15:59:00 +1100

Boosting confidence in Augur's prospects, the company has been given a price target almost 280% higher than the current share price, based largely on the advanced stage Wonogiri Copper Gold Project in Indonesia.

Augur Resources: Wonogiri bulk tonnage opportunity builds with 118m at 0.98g/t gold equivalent

Tue, 28 Feb 2012 12:14:00 +1100

Underpinning the bulk tonnage potential of Augur Resources’ Wonogiri gold-copper project in Indonesia is the mineralisation at Randu Kuning which has been identified from surface and remains open at depth. Anomalous gold zones were detected at over 450 metres below surface.

Augur Resources discovers new epithermal gold prospect at Wonogiri

Thu, 16 Feb 2012 12:40:00 +1100

Augur Resources (ASX: AUK) has identified a new epithermal prospect at the Wonogiri Gold-Copper Project in central Java, southeast of the Randu Kuning porphyry.

The newly discovered Gawe prospect was identified by drilling, which returned:

- 15 metres at 0.6 grams per tonne (g/t) gold and 3.2g/t silver from 38 metres;
- 12 metres at 0.25g/t gold and 1.5g/t silver from 60 metres; and
- 22 metres at 0.33g/t gold and 3.1g/t silver from 84 metres.

Mineralisation in the Gawe prospect occurs mainly within a dioritic crackle breccia, the extent of which is unknown.

Breccias associated with porphyries can host major mineralisation.

Importantly, Gawe is located 690 metres southeast of Randu Kuning, where significant mineralisation has already been identified.

The results from the Gawe prospect highlight the prospectivity of targets close to Randu Kuning.

Positive gold results from drilling north of Randu Kuning include:

- 5 metres at 1.39g/t gold from 79.5 metres; and
- 1 metre at 1g/t gold from 220 metres.

Results from a drill hole at Randu Kuning released in November 2011 returned 95.5 metres at 0.74g/t gold and 0.16% copper from just 41 metres, including a high grade zone of 5 metres at 5.08g/t gold and 0.5% copper.

Further drilling is underway at Randu Kuning, with a rig capable of testing to greater than 1,200 metres in use to test for deeper intrusive sources. Meanwhile, Augur also plans to continue drilling north of Randu Kuning.

Wonogiri

The Wonogiri project covers 3,928 hectares of land within the Sunda-Banda arc, about 30 kilometres south of Solo in central Java.

It is easily accessible by daily flights from the capital of Jakarta and a one hour drive by car on a sealed road.

Wonogiri is considered prospective for epithermal gold and porphyry copper-gold mineralisation.

Augur Resources signs joint venture for Homeville nickel cobalt project with Metals Finance

Thu, 16 Feb 2012 11:40:00 +1100

Augur Resources (ASX: AUK) has entered a joint venture agreement with Metals Finance’s (ASX: MFC) Australian subsidiary for the Homeville nickel-cobalt laterite project in central New South Wales.

The agreement allows Metals Finance Australia to earn a 51% interest in Homeville by undertaking and funding a Definitive Feasibility Study.

Homeville hosts a JORC Indicated Resource of 4.4 million tonnes at 0.99% nickel and 0.06% cobalt and an Inferred Resource of 11.9 million tonnes at 0.91% nickel and 0.05% cobalt, based on a 0.7% nickel cut-off grade.

Metals Finance has found that drill data from the project suggests that a discrete portion of the resource is higher grade and could be open to early development.

Detailed modelling is required to verify this.

If the development of Homeville proceeds, funding will be in accordance with each partner’s equity interest.

However, both companies have the option to reduce their holding to a 10% net profit interest with no contribution to capital.

Feasibility studies at Homeville will begin in the June quarter and are targeted for completion within 18 months of entering into the agreement.

Augur remains focused on exploration and development of advanced gold and copper projects.

Augur Resources: Zodiac Resources meets farm in milestone at Yeoval copper, gold project

Thu, 09 Feb 2012 12:00:00 +1100

Augur Resources’ (ASX: AUK) farm-in partner Zodiac Resources has met the A$300,000 initial farm‐in drilling condition for the Yeoval copper‐gold project in central New South Wales.

Under the previously announced agreement, Zodiac must now make a $450,000 option payment to Augur by 4 April 2012 if the company decides to continue to explore the project’s tenements.

To acquire a 75% interest in Yeoval Zodiac needs to spend a further $1.7 million on drilling by 4 April 2014.

On completion of the farm‐in period, Augur will have an option to contribute 25% to expenditure on the project or progress to a free carried net smelter royalty of 2.5%.

The Yeoval project, which covers around 147 square kilometres, is prospective for porphyry copper‐gold and molybdenum mineralisation, epithermal gold and silver mineralisation, and magnetite rich copper‐gold mineralisation.

The project area hosts the Yeoval Porphyry deposit which has an Inferred JORC Resource of 12.9 million tonnes at 0.38% copper, 0.14 grams per tonne (g/t) gold, 120.1 parts per million molybdenum and 2.2g/t silver.

The resource is open at depth, to the east and to the south.

Wonogiri

The Yeoval project is non‐core to Augur's focus on advanced projects, specifically the Wonogiri gold and copper project in central Java, Indonesia.

Augur is undertaking a significant drill program to determine the extent of the gold and copper porphyry mineralisation at the Randu Kuning prospect within the Wonogiri licence area.

Highlights from drilling to date include 123.5 metres at 1.42g/t gold and 0.22% copper, 65 metres at 1.03g/t gold and 0.17% copper, 222 metres at 0.95g/t gold and 0.2% copper and 182 metres at 0.75g/t gold and 0.17% copper.

The Wonogiri project has become the flagship project of the company as drilling continues to indicate a substantial area of mineralisation associated with the Randu Kuning porphyry system.

Significantly, mineralisation at Randu Kuning has been identified from surface and remains open at depth.

In addition, the porphyry mineralisation remains open to the north and to the west.

The gold mineralised corridor at Randu Kuning has now been extended to more than 1300 metres.

Late last year Augur reached the milestone of attaining 51% ownership of the Wonogiri project, having met the required US$1.5 million spend on first stage exploration within 12 months of the acquisition agreement.

The company is now able to earn a further 29%, for a total 80% interest in the project, by spending an additional US$2 million on exploration before December 9, 2012.

Augur Resources director increases holding

Fri, 13 Jan 2012 15:00:00 +1100

Augur Resources (ASX:AUK) director Justin Werner has acquired 100,000 shares in the company in an on market transaction on 11 January 2012.

Augur has earned a 51% interest in the Wonogiri project in Central Java and can earn an 80% interest in the project with the expenditure of a further US$2.0 million by 9 December 2012.

There are four drill rigs operating at the project, two of the drill rigs are defining the extent of mineralisation at Randu Kuning, while two rigs are targeting regional geochemical and geophysical targets.

The Wonogiri project is located approximately 30 kilometres to the south of the provincial city of Solo in central Java and is accessible by daily flights from the capital Jakarta and a short one hour drive by car on a sealed road.

Augur Resources' gold mineralised corridor at Randu Kuning extended to over 1300m

Fri, 13 Jan 2012 12:12:00 +1100

Promisingly, the gold mineralised corridor has been extended to over 1300 metres. The ongoing drill results indicate that mineralisation at Randu Kuning covers a significant extent and has yet to be closed off.

Augur Resources identifies bulk copper and gold at Wonogiri, Central Java

Fri, 16 Dec 2011 13:10:00 +1100

Augur Resources (ASX: AUK) has intersected broad zones of gold and copper mineralisation at the Wonogiri Project in Central Java.

The latest results from drilling at Wonogiri include bulk gold and copper intercepts from one hole, including:

- 132 metres at 0.75 grams per tonne (g/t) gold and 0.17% copper from 45.5 metres; and
- 52 metres at 0.31g/t gold and 0.11% copper from 221 metres.

This hole was drilled to test for the continuation of mineralisation below a previous intercept of 182 metres at 0.75g/t gold and 0.17% copper.

Results from this hole indicates the presence of a large gold-copper mineralised porphyry.

In addition, another hole from the current drilling program intercepted smaller zones of higher grade gold:

- 4.5 metres at 1.05g/t gold from 43 metres including 0.5 metres at 7.93g/t gold;
- 1 metre at 4.99g/t gold from 62 metres; and
- 1 metre at 4.16g/t gold from 119 metres.

The higher grade mineralisation is related to epithermal veins, and may indicate a buried mineralised system.

Augur believes extensive alteration could be indicative of a deeper mineralised source which has yet to be drill tested.

Four drill rigs are working within the Wonogiri Project, with two defining the extent of mineralisation at the Randu Kuning porphyry and two targeting regional geochemical and geophysical targets.

Further metallurgical testing has commenced on the porphyry mineralisation at Randu Kuning.

The Wonogiri Project is located in the Sunda-Banda arc and covers an area of 3,928 hectares.

There are a number of significant porphyry deposits in the region of Wonogiri, with Newmont Mining Corporation’s (ASX: NMC) operation at Batu Hijau which hosts 914 million tonnes at 0.53% copper and 0.40g/t gold, sitting along the same zone as Augur's project.

Wonogiri acquisition

Earlier this week, Augur reached the milestone of attaining 51% ownership of the Wonogiri project, having met the required US$1.5 million spend on first stage exploration within 12 months of the acquisition agreement.

The company is now able to earn a further 29%, for a total 80% interest in the project, by spending a further US$2 million on exploration before December 9, 2012.

Augur Resources eyes 80% interest in Wonogiri gold copper project after securing 51% ownership

Tue, 13 Dec 2011 16:30:00 +1100

Augur Resources (ASX: AUK) has reached the milestone of moving to 51% ownership of the Wonogiri gold‐copper project in central Java having met the required US$1.5 million spend on first stage exploration within 12 months of the acquisition agreement.

The company can now move to earn up to an 80% interest in the project by spending a further US$2 million on exploration before 9 December 2012.

Augur is already working hard to earn its further 29% stake with detailed exploration of the Randu Kuning porphyry and four epithermal targets underway.

The company has completed 27 diamond drill holes for 8,004 metres since March, with results for seven holes pending and a further four holes now underway.

Previous broad intersections defined at the Randu Kuning porphyry include 222 metres at 0.95 grams per tonne (g/t) gold and 0.20% copper from 40 metres, 123.5 metres at 1.42g/t gold and 0.22% copper from 44.5 metres, and 182 metres at 0.75g/t gold and 0.17% copper from 68 metres.

Another indicator of Wonogiri’s potential is the previously reported initial metallurgical recovery results which returned favourable recoveries, with up to 94.1% copper recovered and 82.7% gold recovered in sulphide samples.

The Wonogiri project lies within the Sunda‐Banda arc and covers an area of 3,928 hectares considered prospective for epithermal gold and porphyry copper‐gold mineralisation.

There are a number of significant porphyry deposits in the region of Wonogiri, with Newmont Mining Corporation’s (ASX: NMC) operation at Batu Hijau which hosts 914 million tonnes at 0.53% copper and 0.40g/t gold, sitting along the same zone as Augur's project.

Augur Resources director increases stake in the company

Mon, 05 Dec 2011 11:17:00 +1100

Augur Resources (ASX: AUK) director Justin Werner acquired 55,000 shares on market at $0.15 per share on 29 November, for a total consideration of $8,250.

The purchase takes Werner’s interest in Augur to 985,000 directly held shares, 3.7 million indirectly held shares and 5 million unlisted options at $0.28, expiring on April 30, 2013.

The move shows confidence in the company, which in November intersected significant mineralisation at the Randu Kuning porphyry prospect in Centra Java.

Assays included 95.5 metres at 0.74 grams per tonne (g/t) gold and 0.16% copper from just 41 metres, including a high grade zone of 5 metres at 5.08g/t gold and 0.5% copper.

These results indicate the possibility of high grade targets within Randu Kuning, and point to bulk tonnage potential.

Augur Resources director shows confidence in company by increasing stake

Mon, 28 Nov 2011 16:22:00 +1100

Augur Resources (ASX: AUK) director Justin Werner has increased his interest in the company, buying up 100,000 shares.

The shares were purchased on market at a price of $0.165, for a total consideration of $16,500.

This purchase takes Werner’s interest in Augur to 930,000 directly held shares, 3.7 million indirectly held shares and 5 million unlisted options at $0.28, expiring on April 30, 2013.

The move shows confidence in the company, which earlier this month intersected significant mineralisation at the Randu Kuning porphyry prospect in Centra Java.

Assays included 95.5 metres at 0.74 grams per tonne (g/t) gold and 0.16% copper from just 41 metres, including a high grade zone of 5 metres at 5.08g/t gold and 0.5% copper.

These results indicate the possibility of high grade targets within Randu Kuning, and point to bulk tonnage potential.

Augur Resources delivers more wide gold intersections at Wonogiri

Thu, 17 Nov 2011 14:21:00 +1100

Further drilling by Augur at the Wonogiri project in Central Java has revealed 95.5m at 0.74g/t gold and 0.16% copper from only 41m, indicating high grade zones may be viable targets within the Randu Kuning porphyry system.

Augur Resources intersects more significant gold zones at Jampang

Tue, 25 Oct 2011 11:01:00 +1100

The near surface gold and copper intersections such as 9m at 1.58 g/t gold, 0.22% copper and 6.7 g/t silver keep on coming for Augur Resources at its Jampang project in Java, and confirm mineralised zones exist near to the main Lipi deposit.

Augur Resources' broad gold copper intersections continue at Wonogiri, two new rigs added

Tue, 18 Oct 2011 10:33:00 +1100

Augur Resources (ASX: AUK) continues to move the Wonogiri project in Central Java forward at pace, with the company looking to add two additional rigs by mid-November, with two rigs already active at Randu Kuning.

The very broad gold and copper intersections continue from Wonogiri, with two more holes further boosting the potential for a bulk tonnage operation

The latest highlight from the northern most hole delivered 55.0 metres at 0.41 grams per tonne (g/t) gold and 0.16% copper.

A second hole at the main Randu Kuning zone produced two significant zones of mineralisation, which included 136.0 metres at 0.48g/t gold and 0.14% copper from 159.5 metres, and a further 106.5 metres at 0.64g/t gold and 0.10% copper, which ended in mineralisation.

Importantly these results confirm the extension of mineralisation at depth and to the north. Augur has now initiated a new drill hole, which is testing an epithermal target 200 metres north of Randu Kuning.

Geology at Randu Kuning

Data from local geology and recent drilling indicates that the mineralisation at Randu Kuning is related to a near vertical gold‐copper porphyry within a large eroded volcanic centre, possibly related to a northward migrating Oligocene to Miocene volcanic arc.

There are a number of significant porphyry deposits in the region of Wonogiri, with Newmont Mining Corporation’s (ASX: NMC) operation at Batu Hijau which hosts 914 million tonnes at 0.53% copper and 0.40 g/t gold, sitting along the same zone as Augur's project.

Providing a further prospectivity boost to the region is Newmont’s Elang deposit on the island of Sumbawa, and Intrepid Mines (ASX: IAU) Tujuh Bukit in eastern Java, which hosts 990 million tonnes at 0.40% copper and 0.45 g/t gold.

Augur Resources unveils depth extension with 123m at 0.61g/t gold and 0.14% copper hit at Wonogiri

Fri, 07 Oct 2011 14:11:00 +1100

With significant porphyry deposits positioned on the same zone as Augur, including Newmont's 914Mt at 0.53% copper and 0.40% gold - the latest broad depth extension at Wonogiri delivers further bulk tonnage potential.

Augur Resources hits 120m at 0.96g/t gold and 0.21% copper at Wonogiri in Central Java

Wed, 21 Sep 2011 13:26:00 +1000

Augur Resources (ASX: AUK) continues to intersect broad zones of mineralisation in Central Java from diamond drilling, with the latest intersection further extending the strike to the north at the Wonogiri project.

The broad highlight from the Randu Kuning prospect was 120.0 metres at 0.96 grams per tonne (g/t) gold and 0.21% copper from 69 metres.

Further down the hole Augur intersected 26.0 metres at 0.43g/t gold from 205 metres.

Augur will now further drill test the northern extensions of the mineralisation.

Adding some significance to today's copper gold hit is that the hole is positioned just 55 metres from another hole which has previously announced multiple gold zones such as 28.0 metres at 0.64g/t gold and 0.17% copper from 80 metres, and 65.0 metres at 0.59g/t gold and 0.14% copper from 111 metres.

The current drilling program includes two rigs in operation at Randu Kuning, which is focused on the northern portion of the deposit - testing down dip and extensions.

Newmont deposit nearby

Data from local geology and recent drilling indicates that the mineralisation at Randu Kuning is related to a near vertical gold copper porphyry within a large eroded volcanic centre.

Adding some spice to the potential of the area, a number of significant porphyry deposits (+/‐ associated epithermal mineralisation) sit along this zone.

These include Newmont Mining Corporation’s (ASX: NCM) operation at Batu Hijau of 914 million tonnes at 0.53% copper and 0.40% gold, indicating similarities to Randu Kuning.