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Ausmex Mining Group Ltd

Ausmex Mining intersects additional wide zones of gold-copper-cobalt at Mt Freda Complex

The company is anticipating a continuous release of drill hole assays over the next four to six weeks as the backlog of samples is processed.

Ausmex Mining Group Ltd - Ausmex Mining intersects additional wide zones of gold-copper-cobalt at Mt Freda Complex

Ausmex Mining Group Ltd (ASX:AMG) has confirmed additional drilling results that have intersected IOCG (iron oxide copper gold) style gold-copper-cobalt mineralisation above current IOCG geophysical targets at Mt Freda Complex in Queensland.

Drill hole location plan with current and previous significant intersections above the potential conductive IOCG target

Three additional drill holes have returned the following mineralisation:

Drill Hole LD19RC023: intersected 3 sperate zones over 55 metres.

Zone 1: 5 metres at 2.3 g/t gold (0-5 metres), Zone 2: 4 metres at 0.54 g/t gold (11 - 15 metres), Zone 3: 46 metres at 2.0 g/t gold & 0.42 % copper with 245 ppm cobalt ( 70-116 metres) with 9 metres at 4.1 g/t gold (78-87 metres) and gold up to 18.3 g/t gold (105 -106 metres).

Drill Hole LD19RC025: 6 metres at 1.26 g/t gold & 0.45% copper with 419 ppm cobalt (19-25 metres), (The drill became bogged at 48 metres and the hole terminated before reaching the IOCG target zone).

Drill Hole ES19DD0019: 70 metres at 0.82 % copper & 0.35 g/t gold (0-70 metres) including 12 metres at 1.4% copper & 0.5 g/t gold (8 - 20 metres). (Re-drill of previous diamond core hole ES19DD004 that intersected an underground void and was terminated at 55.5 metres).

Geological interpretation of Diamond Core Hole ES19DD0019 drilled under the Evening Star Copper mine into an Ausmex potential IOCG conductive target

To date, six Ausmex drill holes have now intersected copper, gold and cobalt along the projected +1500 metres of strike length of the IOCG target anomaly previously identified as a conductive structure.

Currently, Ausmex has over 4,900 individual samples awaiting analysis from thirty-six (36) outstanding drill holes completed at the Mt Freda Complex.

Samples have been directed to three independent laboratories in Queensland for processing and analysis including ALS, SGS, & Intertek.

The company is anticipating a continuous release of drill hole assays over the next four to six weeks as the backlog of samples is processed and will continue to update shareholders as results are completed.

Deeper IOCG drilling

Recent results have greatly assisted in the current geological interpretation, with Ausmex now planning downhole IP and EM surveys to assist in targeting deeper IOCG drilling.

Due to the high number of outstanding drill hole assays, Ausmex has reduced the drill rigs on site to four, consisting of two diamond core rigs, one deep RC rig and one air track rig.

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

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