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Ausmex Mining seeks joint venture partners for gold assets at Burra

Ausmex controls about 7,500 square kilometres of prospective tenure in the Adelaide Geosyncline in central South Australia.

Ausmex Mining Group Ltd - Ausmex Mining seeks joint venture partners for gold assets at Burra
Ausmex is focused on bringing its lead asset, the Mt Freda Gold Project, into production in 2020

Ausmex Mining Group Ltd (ASX:AMG) is an Australian-focused explorer and developer with a portfolio of prospective assets in the Cloncurry mining district in Queensland and also in South Australia.

The company is focused on bringing its lead asset, the Mt Freda Gold Project in Queensland, into production in 2020 and also on advancing its Burra IOCG (iron oxide copper gold) Project in South Australia.

Given its focus on its two core projects, Ausmex is seeking joint venture and/or farm-in partners to work with the company to advance its highly prospective gold assets at Burra.

Adelaide Geosyncline

Ausmex controls about 7,500 square kilometres of prospective tenure in the Adelaide Geosyncline in and around Burra, South Australia.

It is worth noting that the Adelaide Geosyncline accounted for about 70% of South Australia’s total gold production prior to the commencement of Olympic Dam Mine in 1988.

The company’s key prospects in the region include Mongolata Goldfields, Princess Royal, Black Hills and Ulooloo goldfields.

Mongolata Goldfields

The Mongolata Goldfield was discovered in 1930 and produced 11,127 ounces of gold from 7,684 tonnes treated (recovery grade average 45 g/t).  Gold production was not stopped due to lack of ore.

Gold mineralisation at Mongolata extends over a strike length of about 12 kilometres with historical focus over 4 kilometres.

Black Hills

The historic Black Hills gold workings occur 7 kilometres north east of the Mongolata Goldfields.

Past drilling identified high grade and anomalous gold with associated copper, lead, nickel and zinc over a 3-kilometre strike length open to the north and south.

Potential gold JV tenure

Quick facts: Ausmex Mining Group Ltd

Price: 0.03 AUD

ASX:AMG
Market: ASX
Market Cap: $16.43 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