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Ausmex Mining completes two holes at Princess Royal, earns 60% of JV

AMG has notified its joint venture partner that it has met the requirements to increase its interest to 60% in the Burra tenements.

Ausmex Mining Group Ltd - Ausmex Mining completes two holes at Princess Royal, earns 60% of JV
Drilling has paused for the holiday break and will recommence mid-January

Ausmex Mining Group Ltd (ASX:AMG) has drilled two RC holes at priority conductor target #1 at the Princess Royal Prospect within its Burra Project in South Australia.

Drilling is part of a 3,000-metre reverse circulation (RC) drill program at the Princess Royal and Mullaby prospects testing recently identified priority targets.

The two RC holes were drilled to around 240 metres and samples from those holes have been sent for laboratory analysis.

Notably, the drilling means AMG has surpassed the expenditure required to earn a 60% controlling interest in all of the Burra tenements of PNX Metals Ltd (ASX:PNX).


Quick facts: Ausmex Mining Group Ltd

Price: 0.034 AUD

Market: ASX
Market Cap: $18.62 m

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on 13/5/19

2 min read