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Ausmex Mining Group Ltd.

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Summary

Project:

Mt Freda

Deposit:Golden Mile
Location:Australia
Commodities:Gold-Copper
Date:3/7/2019
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resources Definition
Report details:7-3-2019: Ausmex Mining Group Ltd. announces an Exploration/Drilling Update report for its Golden Mile deposit at the Mt Freda project. Drilling results incl. 2m @ 12.45g/t Au from 13m. The Golden Mile project is a Joint Venture (AMG 80% with EXCO 20%) wi
Resources:x
CP/QP:[Overall Report]: Matthew Morgan (Internal)
ABSTRACT:The Golden Mile project is a Joint Venture (AMG 80% with EXCO 20%) with Exco Resources (QLD) Pty Ltd (EXCO), a 100% subsidiary of Washington H. Soul Pattinson, on the two sub blocks CLON825P & CLON825U from within EPM15923 (Refer ASX release 16th April 2018). The Drilling to date completed by Ausmex continues to deliver shallow, high grade gold results, at depths potentially amenable to a bulk mining operation. Golden Mile Ore Processing Under the JV with EXCO, gold ore produced from the Golden Mile JV area will be processed at the 600,000tpa CIP Processing Plant at Round Oak Minerals’ Great Australia Mine in Cloncurry, 35 kms NW of the Golden Mine Project. Round Oak Minerals is EXCO’s parent company. Stockpiled low-grade ore from historical mining at the AMG owned Mt Freda Gold Mine has been processed at the CIP Processing Plant. The ore was sold to Round Oak Minerals (formerly CopperChem) for $2.5 m cash in mid-2018. The Golden Mile project, forms part of the Mt Freda Gold Complex. (Refer ASX release 16th April 2018).

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