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Ausmex Mining Group Ltd

Ausmex Mining Group begins drilling IOCG and high-grade targets to define JORC resources at Mt Freda in QLD

With three drill rigs on site and the fourth expected online soon, initial assay results are scheduled for release before the end of June.

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QLD exploration manager Kieren Whittock supervising reverse circulation rig 1 targeting IOCG mineralisation

Ausmex Mining Group Ltd (ASX:AMG) has begun a 15,000-metre drilling program at the Mt Freda Complex in Cloncurry Queensland, targeting high-grade gold, copper, cobalt and massive sulphides indicative of iron-oxide-copper-gold (IOCG) mineralisation.

The company is aiming to define JORC-compliant resources over Mt Freda, Evening Star and Golden Mile including 8 historical high-grade gold prospects with more than 8 kilometres of outcropping mineralisation.

Ausmex also recently appointed Kieren Whittock as exploration manager, tasked with the role of supervising and managing the extensive drilling program.

Stage I drilling location plan targets

 

READ: Ausmex Mining to direct $7 million cash injection to Queensland-focused exploration

Whittock said: “I am extremely excited to be involved with Ausmex and to lead the Queensland discovery team.

“Ausmex currently hold an exciting tenement package at Cloncurry and I look forward to delivering positive results for Ausmex shareholders through high-quality, targeted exploration.”

Whittock was previously responsible for on-site exploration at the Hastings Technology Metals Yangibana REE Project, where he supervised 80,000 metres of exploration drilling over 5 years.

The program defined a 22-million-tonne JORC resource which advanced the project through grassroots exploration to development.

Diamond drilling rig 1 has begun drilling

 

READ: Ausmex to begin drillingat Mt Freda Complex in Queensland targeting IOCG style mineralisation

The program will begin on the northern end of the conductor targeting IOCG mineralisation via scissor holes progressing south as it plunges towards Newcrest Mining’s (ASX:NCM) drilling targets south of the Mt Freda mine.

Newcrest has also begun drilling a tier-one IOCG target adjacent to the Mt Freda Complex, with the anomaly continuing into Ausmex’s tenements under a recently established farm-in agreement with Exco Resources Limited. 

The company has located drill pads within about 400 metres of Ausmex’s tenure and planned drill hole locations.

Drill pads at Evening Star 

Quick facts: Ausmex Mining Group Ltd

Price: $0.11

Market: ASX
Market Cap: $50.48 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