AusMex Mining Group Ltd. (ASX.AMG), has announced some exciting assay results from a shallow drill program at the King Brown Project located in the Mt Freda Complex Queensland Australia.
The company has drill-tested a sub-audio magnetic (SAM) identified electromagnetic (EM) target, which correlated with shallow gold mineralisation, and has discovered iron sulphide copper-gold (ISCG) style mineralisation. Assay results from this drill program include:
- 18 metres (m) at a grade of 0.89% copper (Cu) and 0.06 grams per tonne (g/t) gold (Au) from 15m (KB18DD003);
- 13m at a grade of 1.31% Cu and 1.6g/t Au from 1m (KB18DD004);
- 18m at a grade of 2.34% Cu and 2.17g/t Au from 2m (KB18DD005)
These are some impressive copper-gold grades over large intercepts, with great potential for additional drilling to prove-up something very interesting. The ISCG style of mineralisation is similar to that of the Eloise Mine, located 20 kilometres east of Mt Freda, which has a mineral resource estimate of 3.2 million tonnes (mt) at a grade of 5.8% Cu, 1.5g/t Au and 19g/t silver (Ag). King Brown has an exploration target range of 2.0mt-2.9mt at a gold grade between 1.5g/t Au and 2.5g/t Au; there is no copper exploration target at present.
It will be interesting to see what additional drilling King Brown returns but it appears that some great geophysical and geochemical exploration have led to a very interesting discovery for the company.