Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Ausmex Mining (ASX:AMG) has announced three drill targets at the Princess Royal Prospect have confirmed the presence of conductive anomalies
  • Princess Royal is located in the underexplored Burra region of South Australia and is considered a “hotspot” by the company
  • A follow up 2000-metre drilling program will begin in the first week of December to test these anomalies
  • Ausmex shares remain flat and are trading for 8.8 cents each

Ausmex Mining has announced three recently completed drill targets at the Princess Royal Prospect have confirmed the presence of conductive anomalies.

The Princess Royal Prospect is located 15 kilometres south of the under-explored Burra region in South Australia.

The 200 metre spaced infill MT/AMT traverse was completed and then followed by GeoDiscovery Group testing the high resolution data.

“We are very pleased with the additional definition that our recent close spaced MT transect has provided, we thank Zonge for their timely field work and GeoDiscovery for their rapid modelling and interpretation of that data,” Executive Director and Chief Operating Officer Geoff Kidd said.

Priority target 1 extends from near surface to depth, is adjacent to the Kooringa fault and is associated with gossanous ferruginous quartz breccia with malachite at the surface.

On the eastern side of Princess Royal is Priority target 2 which is associated with a mineralised thrust fault along the anticlinal contact between the Skillogalee dolomites and the Saddleworth Formation.

No previous drilling has been completed under the secondary copper and gold mineralisation at Princess Royal.

Target 3 is associated with a broad MT anomaly and with a coincident gravity anomaly.

To test these anomalies, a 2000 metre reverse circulation drilling program is scheduled for the first week of December.

As part of the program, Ausmex has engaged Bullion Drilling Co, a W.A-based drilling contractor.

Ausmex shares remain flat and are trading for 8.8 cents each at 12:24 pm AEDT.

AMG by the numbers
More From The Market Herald
Future Metals (ASX:FME) - Director, Justin Tremain

" Future Metals (ASX:FME) intersects high-grade mineralisation at Panton

Future Metals (FME) has intersected high-grade mineralisation at its Panton Platinum Group Metal (PGM) project in Western Australia.

" R3D Resources (ASX:R3D) completes third hole at Tartana

R3D Resources (R3D) has completed the third diamond hole on the Tartana mining leases in Queensland.

" Centrex Metals (ASX:CXM) eyes $4m for work at Ardmore and key hires

Centrex Metals (CXM) has received firm commitments to undertake a $4 million share placement.
Auroch Minerals (ASX:AOU) - Managing Director, Aidan Platel

" Auroch Minerals (ASX:AOU) raises $8m to accelerate nickel exploration

Auroch Minerals (AOU) has received firm commitments to raise $8 million via a share placement.