Proactiveinvestors recommends

Breakaway Resources gains exploration upside surrounding 7.5m silver ounce Altia project
IMX Resources: full ownership of the Nachingwea Nickel Project clears path to production
Greenland Minerals and Energy receives broker valuation of more than five times current share price

Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	AUK
Latest Price:	0.04 (2.50% )
52-week High:	0.47
52-week Low:	0.04
Market Cap:	7.26M

1 year chart

1 day chart

Augur Resources Full Augur Resources profile here

Augur Resources (ASX: AUK) has a focus on gold and copper within Indonesia and nickel projects within Eastern Australia. Augur’s key projects are the Wonogiri gold-copper project in central Java, Indonesia and the Jampang gold-copper project in western Java, Indonesia.

Augur Resources reports maiden JORC copper-gold-molybdenum resource at Yeoval, NSW

Monday, March 23, 2009

Augur Resources (ASX:AUK) has announced an initial JORC inferred resource estimate of 12.9Mt at 0.38% copper, 0.14 g/t gold, 120 ppm molybdenum and 2.2 g/t silver (cut off 0.2% copper) for its Yeoval porphyry deposit in central New South Wales.

Higher grade zones of 2.52Mt at 0.68% copper 0.22 g/t gold, 192 ppm molybdenum and 3.8 g/t silver (cut off 0.5% copper) exist within the deposit.

The inferred sulphide resource is estimated to contain approximately 48,500 tonnes of copper, 58,000 ounces of gold, 1500 tonnes ofmolybdenum and 911,000 ounces of silver (based on a 0.2% cut off).

Mineralisation is shallow, with the top of the sulphide bodies generally within 5 to 15m of the surface.

Augur’s managing director Grant Kensington said: “Augur Resources has taken a major step in reaching our strategic goal of identifying up to three economic copper-gold-molybdenum JORC resources in close proximity to the township of Yeoval. These resources coupled with further discoveries in the area could provide feed to a single processing site, thereby minimising capital expenditure and allowing for blending of ore to optimise recoveries of saleable metals".

The current resource estimate for the Yeoval deposit encumbers three mineralised bodies. The majority of the mineralisation exists within two near surface vertical “pipe” like porphyry bodies (Stirling and Sovereign porphyries). Drilling has not closed off the down dip extension of either of these bodies. More significantly, the Sovereign porphyry body is open to the east, north and south.

The third mineralised body used in the resource estimate relates to sulphide mineralisation sitting below the previously mined oxide portion of the Lady Lizzie deposit. This body is interpreted as a fault controlled replacement body.

Current and Proposed Work Program

Planning of addition RC drill-holes targeting the shallow Crown porphyry zone and the Sovereign porphyry zone is underway. These holes will be used in any future resource calculation.

Augur Resources will continue to refine the geological model for the deposit. This will have the potential of greatly assisting in future exploration within the immediate surrounds of Yeoval. Augur Resources will continue to advance other prospects which have significant potential to host economic mineralisation within the Yeoval tenement.

Location of the Deposit

The Yeoval Copper-Gold-Molybdenum-Silver deposit is within the 100% Augur Resources Limited owned Yeoval Project. The Yeoval project is well situated with regards to infrastructure and resources. The deposit is approximately 33km south of the town of Wellington and 90km north of the town of Orange in central New South Wales.

Access to the deposit site is via a sealed (sealed to within 2km of the deposit) and all weather roads. The Mitchell Highway is within 30km of the deposit. The Molong – Dubbo railway is within 1km of the site.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.