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Ausmex Mining Group Ltd.
Summary
| Project: | Mt Freda | |
|---|---|---|
| Deposit: | Golden Mile | |
| Location: | Australia | |
| Commodities: | Gold-Copper | |
| Date: | 2/28/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 28-2-2019: Ausmex Mining Group Ltd. announces an Exploration/Drilling Update report for its Golden Mile deposit at the Mt Freda project. Drilling results incl. 13m @ 4.27g/t Au from 44m. Ausmex Mining Group (ASX: AMG) (“Ausmex” or “The Company”) is please | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Matthew Morgan (Internal) | |
| ABSTRACT: | Ausmex Mining Group (ASX: AMG) (“Ausmex” or “The Company”) is pleased to announce that recent high-grade gold drilling results from within the Mt Freda Complex prospects continue to support the key findings from Independent Expert Emeritus Professor Kenneth D Collerson that the epithermal gold deposits along the Golden Mile are Au rich, and close to an igneous source. The presence of epithermal texture including some that indicate the presence of metal rich bacteria, indicate that “Hot Springs” occurred above IOCG source intrusions in the Cloncurry area and explains the occurrence of high concentrations of Au in the district. The Falcon and Shamrock gold prospects are two of ten historical parallel gold reef systems mined up to 1939, located on a >2 km wide zone known as the Golden Mile Project. The combined strike length of the reef systems is approximately 8 kms wide. Ausmex shares approximately 30% of the “Canteen” IOCG prospect area previously delineated by Exco Resources in 2012 and currently being drilled by Newcrest Mining Limited. The Golden Mile is a Joint Venture between Ausmex and Exco Resources under which Ausmex holds an 80% interest. | |
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