Drilling at Ausmon Resources’s (ASX:AOA) 100%-owned Cumnock EL 6417, near Orange in NSW, has upgraded the potential of the Gumble sub-area for copper-gold targets.
A broad skarn system, caused by mineralised granitic fluids reacting with limestones and associated rocks, is clearly evident over some 400 to 600 metres, according to Ausmon.
Elements present are similar to those noted in the nearby historic Delaney’s Dyke mine – copper, zinc, gold-silver and tin.
Results from reverse circulation percussion drilling on the first hole included 10 metres at 0.3% copper, 0.2% zinc and 3 grams per tonne (g/t) of silver; 8 metres at 0.7% copper, 0.22g/t gold, 30g/t silver and 0.15% tin; and 23 metres at 0.1% copper and 4.5g/t silver.
Drilling on the second hole returned 7 metres at 3.9g/t silver and up to 0.2% copper. Also nine non-limestone samples collected between 2 and 65 metres yielded 0.5 to 12.1g/t silver, up to 0.18% copper, up to 0.32% zinc and up to 0.05% tin.
Silver grades in particular are high and consistent, according to Ausmon.
EL 6417 is composed of three segments centred around the town of Cumnock, near Orange. The EL was acquired to undertake exploration for gold and base metal mineralisation hosted within a range of rock units of Ordovician to Devonian age.
These rocks have been deformed by major north-south trending faults, as well as northeast trending sutures of the Lachlan Transverse Zone.
Ausmon said the EL was prospective for gold-silver and base metal deposits, as shown by many recorded mineral occurrences and the presence of historic mine workings at Gumble, Cumnock, Mt Catombal and elsewhere.
Exploration targets include analogues of Brown’s Creek (skarns), Cadia-Ridgeway (porphyry copper-gold), Mt Aubrey (epithermal gold), and Ravenswood (mesothermal vein-hosted gold).
Ausmon Resources is a new Australian exploration company which aims to grow by acquiring interests in prospective precious and base metals, energy related resources and other minerals tenements, exploring, evaluating, developing and proving mineral resources and, in time, mining the resources.
With an initial focus on gold, silver, copper and other base metals in the Lachlan Fold Belt in NSW, the company acquired, under a farm-in Agreement, an 85% interest in four exploration licences – EL 6413 (Pooraka), EL 6415 (Tindarey), EL 6416 (Mt Burrow) and EL 6417 (Cumnock).
The licences are within the Lachlan Fold Belt which hosts a number of major mineral deposits, including Cadia/Ridgeway near Orange.