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Ausmex in trading halt ahead of exploration results

The company’s securities will be in a trading halt until Monday, July 1, or until an announcement is released.

Drilling at Mt Freda
Newcrest Mining has also started drilling an IOCG target adjacent to Mt Freda Complex

Ausmex Mining Group Ltd (ASX:AMG) has a material announcement pending in relation to exploration results and has been granted a trading halt by the ASX.

The trading halt will be in place until Monday, July 1, or when an announcement is released to market, whichever occurs earliest.

Shares were up 15% today to 11.5 cents before the halt was granted.

READ: Ausmex Mining Group sources additional rigs to fast track Mt Freda drilling

In May, the company sourced additional drill rigs to fast track a 15,000-metre drilling program at the Mt Freda Complex near Cloncurry, Queensland.

The program is targeting high-grade gold, copper, cobalt and massive sulphides indicative of iron-oxide-copper-gold style (IOCG) mineralisation.

Ausmex has assigned five drill rigs to several prospects including large IOCG targets.

 

The company aims to define JORC-compliant resources over the Mt Freda Complex, Evening Star and Golden Mile deposits, including historical high-grade 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.

 

Quick facts: Ausmex Mining Group Ltd

Price: 0.076 AUD

ASX:AMG
Market: ASX
Market Cap: $40.06 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