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Ausmex Mining Group in trading halt with Gilded Rose Gold Project sale news imminent

The company's securities will remain in trading halt until Friday, September 20, or until an announcement is released.

Ausmex Mining Group Ltd - Ausmex Mining Group in trading halt ahead of Gilded Rose Gold Project sale
Ausmex is seeking a large IOGC or porphyry deposit to be funded by low-risk gold production resources

Ausmex Mining Group Ltd (ASX:AMG) is in a trading halt with an announcement pending regarding the sale of the Gilded Rose Gold Project near Coppermine Creek in Queensland, Australia.

The trading halt will remain in place until the beginning of trade on Friday, September 20, or when an announcement is made to the market, whichever occurs earliest.

Shares last traded at 10.5 cents.

Multi-pit gold mine

Earlier this month the company defined a combined gold exploration target of 19–30 million tonnes at 1.7–3.4 g/t gold for its Cloncurry gold tenements in northwest Queensland, including on granted mining leases.

The exploration target highlights the potential for Ausmex to develop a multi-pit gold mining hub at Cloncurry, targeting ore processing through third party carbon-in-pulp processing facilities.

Mt Freda Complex MLA

In August the company submitted a Mining Lease application (MLA) for the Golden Mile high-grade gold project at the Mt Freda Complex in northwest Queensland.

The 225-hectare MLA is for mining as Ausmex has the option to process ore from Golden Mile off-site at the Great Australia 600,000 tonnes per annum gold CIP processing facility in Cloncurry.

Quick facts: Ausmex Mining Group Ltd

Price: 0.035 AUD

Market: ASX
Market Cap: $18.67 m

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