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Auris Minerals Ltd.

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Summary

Project:

Cashman

Deposit:Cashman
Location:Australia
Commodities:Copper-Gold-Zinc
Date:1/28/2020
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resources Definition
Report details:28-1-2020: Auris Minerals Ltd. announces an Exploration/Drilling Update report for its Cashman deposit at the Cashman project. Drilling results incl. 5m @ 46ppm Cu, 525ppb Au, 32ppm Zn from 145m. Western Australian base metals explorer Auris Minerals Limi
Resources:x
CP/QP:[Overall Report]: Matthew Svensson (Internal)
ABSTRACT:Western Australian base metals explorer Auris Minerals Limited (“Auris” or “the Company”) (ASX: AUR) is pleased to provide the following update on exploration activities completed during the December quarter 2019 within the Morck Well and Cashman Joint Ventures with Sandfire Resources Limited (“Sandfire”; ASX: SFR) in the Bryah Basin, Western Australia. In accordance with the Cashman JV farm-in agreement dated 19 September 2019, Sandfire is required spend a minimum of $1,200,000 on exploration within the first 12 months and has the right to earn a 70% interest in the project upon completion of a Feasibility Study on a discovery of not less than 50,000t contained copper (or metal equivalent). Sandfire has confirmed it has met the minimum expenditure condition by incurring more than $1,200,000 on exploration expenditure on the Cashman JV tenements as at 31 December 2019 and an estimated expenditure in excess of $8M for upcoming exploration programmes within both the Cashman and Morck Well JV’s.

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