- Ausmex’s resource drilling program defines further high-grade gold at the Mt Freda Complex
- The Mt Freda Complex hosts the Mt Freda Mine, the Golden Mile and 10 other historic gold mines within it
- Latest drilling confirms the potential for the complex to host significant high-grade gold mineralisation that may support a large mining operation
- Ausmex aims to define a Mineral Resource Estimate by the end of the year
- Resource drilling is underway at the Mt Freda Complex and Golden Mile
Ausmex Mining has announced resource drilling at its Mt Freda Complex has once again defined high-grade gold mineralisation.
The Mt Freda Complex hosts the Mt Freda Open Cut as well as the Golden Mile suite of 10 historic gold mines including the Falcon, Shamrock and Comstock mines.
The latest reverse circulation (RC) drilling results confirm the potential for Mt Freda to host significant high-grade gold mineralisation commencing from surface that may support a large open cut bulk mining operation.
The 10 historical gold mines have a combined strike length over eight kilometres. High-grade drilling results have been continuous and reflect the results reported in the QLD Mines Department historical reports. The Falcon Mine had an average grade of 40.7 grams per tonne of gold during production and the Shamrock Mine had 90 grams per tonne.
Each mine returned significant results, confirming their prospectiveness. At the Mt Freda Mine, RC drill hole MF19RC183 confirmed high-grade gold up to 12 grams per tonne, extending known mineralisation to over a 130-metre down dip below the current pit floor.
Resource drilling at the historic Falcon Mine defined large, high-grade gold intersections at shallow depths. Best results include 6 m @ 7.1 g/t Au (25 – 31 m) including 2m @ 16.0 g/t Au within 16 m @ 3.0 g/t Au (24 – 40 m). Shamrock Mine returned similar results with confirmation of potential for a bulk mining operation.
Drilling at the Comstock Mine confirmed a continuous 100-metre strike length to known mineralisation which potentially doubles the current high-grade gold drilling targets.
The Mt Freda Complex will remain a major focus for Ausmex as it aims to define a large Mineral Resource Estimate by the end of the year. The company plans to dedicate four out of the current six drill rigs on site to high-grade gold resource drilling within Mt Freda.
Ausmex will continue to update shareholders on its current drilling program at the Mt Freda Complex, including the Golden Mile, Mt Freda and the deeper IOCG target drilling.