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Ausmex Mining Group Ltd.
Summary
| Project: | Gilded Rose | |
|---|---|---|
| Deposit: | Gilded Rose | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/20/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 20-11-2017: Ausmex Mining Group Ltd. announces an Exploration/Drilling Update report for its Gilded Rose deposit at the Gilded Rose project. Drilling results incl. 3m @ 11.16g/t Au from 79m. Ausmex Mining Group (ASX: AMG) (“Ausmex” or “The Company”) is pl | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Matthew Morgan (Internal) | |
| ABSTRACT: | Ausmex Mining Group (ASX: AMG) (“Ausmex” or “The Company”) is pleased to announce that it has achieved outstanding initial results from its drilling program at the Gilded Rose Gold Mine Project located only 20kms from the regional town of Cloncurry, Queensland. The Gilded Rose four granted mining leases are located within EPM14475 that exceeds 35sq km. The Gilded Rose Mine was one of Queensland highest grade underground Gold mines with an average production grade of 47g/t Au. The total strike length of the Gilded Rose and associated mines is ~ 1.5km in length. This ongoing programme is focussed on defining and expanding a shallow open cut mine and a high margin, high gold grade underground mining project located within a 20 kilometres radius of two existing 3rd party gold processing facilities, as well as the Ausmex planned VAT Leach gold processing operation at Mt Freda. The results are very encouraging as the widths and grade of gold mineralisation may be a source of higher grade ore at depth. The initial assay results for the first phase of RC drilling have been received with high grade gold intersected. A total of 34 RC holes have been drilled including pre-collars for 10 Diamond Core Holes at Gilded Rose. Assays for the first 8 completed RC holes have been received as displayed in Table 4 below. Twenty-six holes are awaiting completion of final assaying. Several of the diamond core holes are still being cut and sampled. | |
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