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Ausmex Mining Group Ltd.
Summary
| Project: | Mt Freda | |
|---|---|---|
| Deposit: | Falcon, Shamrock, Comstock | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/12/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-8-2019: Ausmex Mining Group Ltd. announces an Exploration/Drilling Update report for its Falcon, Shamrock, Comstock deposit at the Mt Freda project. Drilling results incl. 43m @ 0.61g/t Au from 0m. Ausmex Mining Group (ASX: AMG) (“Ausmex” or “The Compa | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Matthew Morgan (Internal) | |
| ABSTRACT: | Ausmex Mining Group (ASX: AMG) (“Ausmex” or “The Company”) is pleased to announce that gold resource definition drilling at the Mt Freda Complex, including the Golden Mile, continues to delineate additional high-grade gold mineralisation across all current projects. Recent drilling has delineated over seventy-five metres of continuous down dip, high gradegold mineralisation at the Shamrock mine, one of ten high grade gold mines located within the Golden Mile. The recent drilling results continues to highlight the potential for the Golden Mile suite of mines to host significant high-grade gold mineralisation. With current gold prices in excess of AUD$2,000 per ounce, and current haul road infrastructure in place to two separate, third party Ore Processing facilities that have a potential combined annual throughput of approximately 1 million tonnes per annum, the Company is focused on defining a large JORC mineral resource estimate by November 2018, suitable for an open cut, bulk mining operation. The Golden Mile Prospect is a JV Ausmex 80% and Round Oak Minerals Pty Limited (subsidiary of Washington H Soul Pattison). Under the JV agreement Ausmex has an option to process all of the gold ore produced from the Golden Mile at the Round Oak Minerals gold processing plant in Cloncurry. | |
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