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Ausmex Mining Group Ltd.
Summary
| Project: | Mt Freda | |
|---|---|---|
| Deposit: | Mt Freda | |
| Location: | Australia | |
| Commodities: | Gold-Copper-Cobalt | |
| Date: | 4/11/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 11-4-2018: Ausmex Mining Group Ltd. announces an Exploration/Drilling Update report for its Mt Freda deposit at the Mt Freda project. Drilling results incl. 3m @ 10.7g/t Au, 625ppm Co from 157m. Ausmex Mining Group (ASX: AMG) (“Ausmex” or “The Company”) i | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Matthew Morgan (Internal) | |
| ABSTRACT: | Ausmex Mining Group (ASX: AMG) (“Ausmex” or “The Company”) is pleased to announce that the second batch of the late 2017 completed Diamond Core Holes at Mt Freda have continued to return high grade gold and cobalt mineralisation. These results further indicate that high grade gold and cobalt mineralisation continuesfrom the current pit floor at Mt Freda, with a gold grade that appears to be increasing at depth. Drilling will commence on the EPM 14163 which adjoins the Mt Freda ML at Cobalt Ridge also known as “Brown Snake” where we are following up a 1936 QLD mining Journal discovery of an Ironstone/Magnetite/Manganese 1.6 kms prominent outcrop described in the journal as Cobalt bearing. Drilling will also commence at the Carpet prospect which has been assayed for +2kms indicating a possible continuous length of Gold/Copper mineralization. These two prospects are 2 of 4 Prospects the company has prioritized for drilling during these next two quarters. Managing Director Matt Morgan Stated: “Diamond core drilling results continue to indicate that Mt Freda has the potential to host a large Gold and Cobalt complex. The Diamond core results further confirm historical high-grade gold and cobalt, with indications that mineralisation extends from the current pit floor, increasing in grade at depth. As there are kilometers of mineralised drill targets defined extending to the north west of the Mt Freda open cut, combined high grade cobalt, copper and gold, 500 m to the south of Mt Freda, plus the historic (2OO4) JORC 1 million pound Cobalt resource estimation completed by QMC, the project has potential for significant scale | |
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