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Ausmex Mining Group Ltd.
Summary
| Project: | Mt Freda | |
|---|---|---|
| Deposit: | Mt Freda | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/3/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 3-10-2017: Ausmex Mining Group Ltd. announces an Exploration/Drilling Update report for its Mt Freda deposit at the Mt Freda project. Drilling results incl. 5m @ 4.17g/t Au from 122m. Ausmex welcomes these high-grade results confirming gold mineralisation | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Matthew Morgan (Internal) | |
| ABSTRACT: | Ausmex welcomes these high-grade results confirming gold mineralisation is still open at depth immediately below the floor of the current Mt Freda Open Pit and along strike to the east and west. The current phase of drilling and the high grade gold results are consistent with the grades previously mined at the Mt Freda Gold Mine. Mt Freda was once a high grade open cut with a CIP gold processing operation until 1988. The mine ceased operations when the gold price fell below $250 per ounce. Due to the outstanding initial results, the Company has changed the current drilling strategy, replacing RC drilling with two diamond core rigs producing HQ core samples that increase the sample recovery of high grade gold and massive sulphide samples, and produce suitable samples for metallurgical processing test work. To minimise drilling costs, the Mt Freda drilling now consists of RC “pre collars” and Diamond HQ core “tails” through target high grade gold and massive sulphide mineralised zones. At the commencement of drilling some poor sample recoveries were received due to a combination of the nature of the ore, drilling through waste dumps, and intersecting the water table. The diamond core drilling has dramatically increased the sample recoveries. The geological team are thrilled with these results and were eager to increase the drilling rate with the addition of the two additional rigs, to reach a JORC compliant resource as soon as possible. | |
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