- Auris Minerals (AUR) has provided an update on exploration at its joint venture projects with Sandfire Resources (SFR)
- Sandfire is earning a 70 per cent interest in the Morck Well, Cashman and Cheroona projects — all of which are located in WA's Bryah Basin
- Over 3600 metres of aircore drilling was conducted at Morck Well which yielded pleasing results
- Now that drilling has recommenced for the year, 550 aircore holes remain to be drilled at the Morck Well JV
- Additionally, geological interpretation at the Cheroona Project is ongoing and follow-up reverse circulation (RC) drilling is planned to test the Orient and East Orient prospects
- Company shares are trading 2.44 per cent higher at 8.4 cents at market close
Auris Minerals (AUR) has released an update on exploration conducted in the December quarter as part of its joint venture with Sandfire Resources (SFR).
The quarter largely focused on the Morck Well, Cashman and Cheroona projects, which are located in the Bryah Basin of WA and held in a joint venture (JV) with Sandfire.
As part of the joint venture, Sandfire is funding exploration to find 50,000 tonnes of copper and complete a feasibility study. Once these steps have been completed, it will own a 70 per cent interest in the projects.
During the period, a total of 61 holes, for over 3600 metres, were completed within the Morck Well JV. Aircore drilling aimed to provide high-quality lithogeochemical samples and assist with delineating stratigraphy.
The drilling returned pleasing results including 15 metres at 0.46 per cent copper from 55 metres including five metres at 0.89 per cent copper from 65 metres, and five metres at 0.51g/t gold from 15 metres.
Additionally, drilling intersected anomalous lead mineralisation of 50 metres at 0.32 per cent lead from 55 metres.
"Morck Well is an exciting target and the JV is encouraged by the indications from the most recent aircore drilling. Several positive intersections remain open along strike to the east and west, so the JV will be undertaking an infill drill program to further evaluate this potential," Managing Director Mike Hendriks said.
As part of a 100-metre by 800-metre spaced program within the Morck Well Project, 550 aircore holes are yet to be drilled.
No aircore drilling was completed within the Cashman JV and no further drilling is planned. However, geological interpretation of the project is continuing.
The company reinterpreted downhole electromagnetic (DHEM) data from one hole which initially targeted a previously identified anomaly. Unfortunately, no anomalies consistent with bedrock conductors were observed and no further work is planned.
However, geological interpretation at the Cheroona Project is ongoing and the companies will plan follow up reverse circulation (RC) holes to test the Orient and East Orient prospects.
"We also have important exploration programmes underway at both Feather Cap and Forrest, so there is certainly a steady pipeline of work currently being undertaken in the Bryah. I look forward to reporting further updates in due course," Mike concluded.
Company shares are trading 2.44 per cent higher at 8.4 cents at market close.