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Ausmex Mining Group Ltd.
Summary
| Project: | Mt Freda | |
|---|---|---|
| Deposit: | Golden Mile | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/26/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 26-10-2018: Ausmex Mining Group Ltd. announces an Exploration/Drilling Update report for its Golden Mile deposit at the Mt Freda project. Drilling results incl. 28m @ 4.3g/t Au from 37m. Ausmex Mining Group (ASX: AMG) (“Ausmex” or “The Company”) is again | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Matthew Morgan (Internal) | |
| ABSTRACT: | Ausmex Mining Group (ASX: AMG) (“Ausmex” or “The Company”) is again pleased to announce the discovery of two additional high-grade gold systems within the Golden Mile project. The “Shamrock” and “Mt Scheelite” historic high-grade gold and tungsten mines have remarkably never been drilled. Maiden drilling by Ausmex has produced an excellent result intersecting high grade gold near surface, including down hole intersections at Shamrock of 28m @ 4.3g/t Au from 37m. At Mt Scheelite the Company Geologists have now identified an additional 400m of drilling targets that are now prospective for both gold and tungsten. The Golden Mile project, forms part of the Mt Freda Gold Complex. The latest results expand the current width of the Golden Mile to in excess of 2km wide, with a combined strike length of mineralised reefs of over 8km. To date the golden mile project consists of 8 parallel north-south striking zones of mineralisation, all of which were historical producing high-grade gold mines. The drilling at Shamrock has extended its southern strike length with drill hole SH18RC008 located at the previous southern limit of the Shamrock pits and historical workings. Drilling is also currently extending the Shamrock mineralization to the North with east-west fence drilling. The Golden Mile consists of the following north south striking zones of mineralisation all being historical gold mines that included Mt Scheelite, Comstock, Falcon, Shamrock, Rocket, Weatherly, Duke and Little Duke, all recorded as high-grade producing mines. These mines have laid dormant since 1939. This first phase of drilling is to identify the total strike length of each of eight closely spaced parallel gold zones followed by a JORC mineral resource estimate | |
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