viewAusmex Mining Group Ltd

Ausmex to begin drilling at Mt Freda Complex in Queensland targeting IOCG style mineralisation

The company has engaged GeoDiscovery to conduct additional geophysical processing and 3D modelling.

Preparing a drill pad
Drill pad preparation at the Mt Freda Complex

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.

READ: Ausmex raises $7 million in oversubscribed placement for exploration at Mt Freda Complex   

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.

Quick facts: Ausmex Mining Group Ltd

Price: 0.031 AUD

Market: ASX
Market Cap: $16.97 m

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Ausmex Mining Group begins drilling for massive sulphides at Mt Freda in QLD

Ausmex Mining Group Ltd (ASX:AMG) managing director Matt Morgan updates Proactive Investors on the company's 15,000-metre drilling program now underway at its Mt Freda Complex in Cloncurry, QLD.   Morgan says that the program will include both reverse circulation and diamond...

on 13/5/19

2 min read