Ausmex Mining Group has announced the continued run of recent RC drilling success with high‐grade copper results intersected by a recent maiden scout exploration drilling at The Trump mining lease.
The high‐ grade copper results at The Trump are the third set of consecutive high‐grade copper drilling results Ausmex has released this year. These results, together with drilling program at the Joker prospect and The Answer Mining Lease ML2517, have together indicated promising copper potential.
A sixteen‐hole scout RC drilling program was completed late December 2017, seizing the opportunity Ausmex had with RC drill rigs returning from completing the nearby The Answer RC drilling program. As the initial geology interpretation was unknown, RC drill holes were located where terrain and vegetation permitted.
Five of the total sixteen RC holes have been validated and interpreted, with the remaining nine RC holes due for validation and interpretation soon after.
It is worth noting that the additional RC holes drilled approximately 100m along strike to the north-east under outcropping malachite (copper oxide), also appear to have intersected additional thick zones of copper mineralisation. These holes are included in the current validation and interpretation.
Initial indications are that the project will require a follow up drilling program to confirm the possible strike direction, dip and general orientation of the mineralisation. From the initial drilling results and interpretation to date, the project appears have the potential to host a high‐grade copper deposit of sizable scale.
Managing Director Matt Morgan stated that a hat trick of high-grade copper results from three maiden drilling campaigns is a fantastic result.
"Ausmex has now three standalone high‐grade copper projects including The Trump, The Joker and The Answer", he said.
"Two of these projects are on current granted mining leases, with all three‐sharing outcropping mineralisation from surface. All three are located within potentially economic trucking distances from current copper oxide and primary ore processing facilities within the Cloncurry region. The company has now a suite of high-grade gold projects including The Gilded Rose and Mt Freda undergoing resource drilling and upgrades, as well as the high‐grade copper projects and additional cobalt at Mt Freda that are currently being ranked and prioritised for the impending drilling season, aimed at maximising shareholder value."