Ausmex Mining Group Ltd (ASX:AMG) has designed a stage I 15,000 metre reverse circulation and diamond drilling program targeting the high-grade gold-copper-cobalt and rare earth mineralisation at the Mt Freda Complex near Cloncurry in Queensland.
The program will begin on the northern end of the conductor targeting 200-metre deep iron oxide copper-gold ore (IOCG) style mineralisation via scissor holes progressing south as it plunges towards Newcrest Mining’s drilling targets south of the Mt Freda mine.
Drilling will also focus on shallow, high-grade gold mineralisation at Golden Mile prospect over known oxide mineralisation targets.
Ausmex recently raised $7 million in a placement for exploration activities at the project, including an extensive drilling campaign at the Tier 1 IOCG target.
The company is also conducting a stage II 3D modelling program designed to review the potential that the conductive structure may continue further south and additional 1,500 metres to the Evening Star region.
This is around 800 metres north of Newcrest Mining's ‘Canteen’ deep IOCG drilling which was completed in August 2018.
GeoDiscovery has been engaged to conduct additional geophysical processing and 3D modelling based on various geophysical data sets, including a heliSAM survey, detailed regional magnetic data and a VTEM survey.