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Ausmex intersects shallow ISCG style mineralisation at Mt Freda in QLD

The company is focused on fast tracking gold production from the Mt Freda Complex in 2020 with first gold pour scheduled for September 2020.

Ausmex Mining Group Ltd - Ausmex intersects shallow ISCG style mineralisation at Mt Freda in QLD
Chalcopyrite discovered within one hole drilled at the King Brown prospect

Ausmex Mining Group (ASX:AMG) has intersected shallow iron-sulphide-copper-gold (ISCG) style mineralisation at the King Brown Gold-Copper-Cobalt Project within the Mt Freda Complex south-east of Cloncurry in Queensland.

The drilling targeted previous sub-audio magnetics (SAM) identified electromagnetic (EM) targets that had correlated with shallow gold mineralisation.

Quartz-pyrrhotite-chalcopyrite mineral assemblage recovered from diamond core drilling can be described as an iron-sulphide-copper-gold (ISCG) system, bearing similarities to the BHP discovered Eloise Copper-Gold project about 20 kilometres east of Mt Freda.

The recent diamond core drilling results highlight the potential for the Mt Freda Complex to host significant mineralisation.

The King Brown project within the Mt Freda Complex has a current exploration target of:

Drilling results include:

  • Near-surface anomalism including 18 metres at 2.34% copper and 2.17 g/t gold, including 6.3 metres at 4.47% copper and 5.36 g/t gold;
  • Diamond drill hole intersections such as 18 metres at 0.89% copper and 0.06 g/t gold, including 2.7 metres at 3.65% copper and 0.19 g/t gold;
  • 13 metres at 1.31% copper and 1.6 g/t gold, including 9.4 metres at 1.66% copper and 2.04 g/t gold with 1 metre at 2.73% copper and 17.55 g/t gold; and
  • 18 metres at 2.34% copper and 2.17 g/t gold, including 6.3 metres at 4.47% copper and 5.36 g/t gold with 1.3 metres at 13.3 g/t gold.

The drilling program was designed to test one EM feature highlighted by the SAM survey along a 2-kilometre trend of surface mineralisation, multiple structural intersections and numerous geophysical targets.

Following the scheduled first gold pour from Mt Freda in September 2020, the company plans to invest gold production cashflow into exploration within both the Burra and Cloncurry tenements, where the focus will be on upgrading the exploration target to JORC resources.

The King Brown project will also be included within the late 2020 gold production funded exploration program.

Bullion Drilling has been engaged to begin drilling audio-magnetotellurics (AMT) targets by the first week of December.

Quick facts: Ausmex Mining Group Ltd

Price: 0.034 AUD

Market: ASX
Market Cap: $18.62 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