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Ausmex Mining Group Ltd.
Summary
| Project: | Mt Freda | |
|---|---|---|
| Deposit: | Golden Mile | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/1/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 1-7-2019: Ausmex Mining Group Ltd. announces an Exploration/Drilling Update report for its Golden Mile deposit at the Mt Freda project. Drilling results incl. 7m @ 10.50g/t Au from 23m. Ausmex Mining Group (ASX: AMG) (“Ausmex” or “The Company”) is pleased | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Ken Collerson (Independent) | |
| ABSTRACT: | Ausmex Mining Group (ASX: AMG) (“Ausmex” or “The Company”) is pleased to announce additional Resource definition drilling has commenced at the Mt Freda mine site, with both RC and Diamond drill rigs currently on site targeting high grade gold extensions to the historic (2004) resource estimate previously estimated by Queensland Mining Corporation. Diamond core drilling has specifically targeted high-grade gold under the immediate floor of the current open pit, with the aim of recovering metallurgical test work samples to review the potential to re commence mining at Mt Freda. Previously Mt Freda Open cut operated from 1986 – 1989 averaging 4 g/t gold, ceasing operations when gold fell to US$260 per ounce. High grade gold was left in the floor of the pit. With current escalating gold prices in excess of AUD$2,000 per ounce, the Company intends to define further high-grade gold resources and review the potential to recommence mining at Mt Freda. | |
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