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Ausmex Mining Group Ltd.
Summary
| Project: | Mt Freda | |
|---|---|---|
| Deposit: | Mt Freda, Falcon, Shamrock, Comstock | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/29/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 29-7-2019: Ausmex Mining Group Ltd. announces an Exploration/Drilling Update report for its Mt Freda, Falcon, Shamrock, Comstock deposit at the Mt Freda project. Drilling results incl. 16m @ 3.0g/t Au from 24m. Ausmex Mining Group (ASX: AMG) (“Ausmex” or | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Matthew Morgan (Internal) | |
| ABSTRACT: | Ausmex Mining Group (ASX: AMG) (“Ausmex” or “The Company”) is pleased to announce that Gold Resource definition drilling at the Mt Freda Complex continues to define additional high-grade gold mineralisation across all current projects. The Mt Freda Complex hosts both the Mt Freda Open Cut as well as the Golden Mile suite of ten historic gold mines. The latest RC drilling results confirm the potential for the Complex to host significant high-grade gold mineralisation commencing from surface that may be amenable to a large open cut bulk mining operation. With current gold prices > AUD$2,000 per ounce, and current haul road infrastructure in place to two separate, third party Ore Processing facilities that have a potential combined annual throughput of approximately 1 million tonnes per annum, the Company has dedicated four out of the current six drill rigs on site to high grade gold Resource Definition drilling within the Mt Freda Complex, with the aim of defining a large mineral resource estimate by end of year. The Golden Mile Prospect is a JV Ausmex 80% and Round Oak Minerals Pty Limited (subsidiary of Washington H Soul Pattison). Under the JV agreement Ausmex has an option to process all of the gold ore produced from the Golden Mile at the Round Oak Minerals gold processing plant in Cloncurry. | |
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