- Augustus Minerals Restricted( ASX: AUG) (“Augustus” or the “Firm”) is happy to announce that’s has executed a binding share buy settlement to amass 100% of the issued capital in Music Effectively Gold Mines Pty Ltd, which holds the exploration licenses and purposes comprising the Music Effectively Gold Mission positioned 35km north of Leonora within the Leonora / Laverton Greenstone Belt of Western Australia.
- The massive contiguous tenement package deal covers an space of 1,345 sq km in a area that hosts gold endowment of >12Moz1 gold and >450kozpa gold manufacturing2 inside 50km of the undertaking.
Neighbouring working mines embody:
Northern Star3 (ASX:NST)
- Thunderbox Mine3 (4.2M oz Au Sources) 20km to the west
- Surprise Underground (0.9Moz Au Sources3)
Genesis Minerals4 (ASX:GMD)
- Hub Mission (0.7 Moz Au Sources) adjoining Music Effectively Mission
Vault Minerals5 (ASX:VAU)
- Darlot Gold Mine (1.9 Moz Au Sources) is positioned 12km north
- King of the Hills mine (4.1 Moz Au Sources) 20km to the south west
- Intensive geophysics, gravity, soil sampling and rock chipping have already been accomplished with information validation and goal prioritization underway
- Potential for gold discoveries from the devoted and centered Augustus exploration group over the subsequent 2 years.
Andrew Ford, GM Exploration commented
“The acquisition of such a big potential gold exploration package deal in shut proximity to working mines owned by Northern Star, Genesis and Vault Minerals with +12M oz of assets and over 450kozpa gold manufacturing2 is a major coup for Augustus (Determine 1).
“With the gold worth now exceeding A$4,000/oz it gives Augustus Shareholders with important publicity to future discovery in one of many biggest gold provinces on the earth”.
Background
Comprising ten granted exploration licences protecting an space of roughly 1,052km2 and two exploration licences in software protecting an space of 293km2. The full tenement package deal is 1,345 sq km making the Mission one of many largest exploration packages within the area.
Augustus believes that including a gold focussed exploration undertaking of this measurement gives optionality and enhances its copper/base-metals/uranium focus on the Ti Tree Shear undertaking within the Gascoyne.
Music Effectively Mission
The Mission is positioned throughout the Murrin Murrin area, Kurnalpi Terrane of the Yilgarn Craton within the Leonora / Laverton Greenstone Belt of Western Australia.
The Yilgarn is a globally important mineralised province for gold, nickel and aluminium, and in addition hosts main deposits of different minerals reminiscent of copper, zinc and iron together with different assets reminiscent of tantalum, lithium, vanadium, uranium and uncommon earth parts (“REEs”).
Determine 1: Mission location, regional gold Mineral Sources and dealing processing vegetation. See Desk 1 for supply information for Mineral Sources of Gold Deposits within the Leonora-Laverton District).
MWGM initiated the consolidation of tenements and commenced subject work, on floor exploration and focusing on research from November 2019. Within the ensuing 5-year interval from November 2019 to November 2024 the Firm has consolidated a tenement package deal of 1,345 sq kms and has recognized precedence targets for comply with up exploration work for Air Core, RC and Diamond Drilling.
These excessive precedence targets have been recognized by utilizing MWGMs “Three – Schema Gold Prospectivity Mannequin” which contains and utilises classical structural mapping strategies, geochemistry reminiscent of Extremely Superb + (UFF) soil sampling, rock chip sampling and superior geophysics. This multi-disciplinary method to exploration utilising high-resolution airborne magnetics, gravity and radiometric information, together with (UFF) soil sampling over + 1,052sq kms additionally contains the reinterpretation of the strong geology, construction and deformation historical past of the area to tell native interpretation of the geological framework and identification of the targets accomplished over a 5-year interval throughout the Mission space.
The geological research, accomplished with the help of a gaggle of technical specialists, together with Southern Geoscience, Fathom Geophysics, Tower Geoscience, Geobase Australia, Daishat Geodictic Gravity Surveyors, Walter Witt Expertise and GeoSpy Australia utilising high-resolution airborne magnetics, gravity and radiometric information.
The principal goal sorts embody gold in shear zones inside granitoids and greenstones (analogous to the close by Surprise Deeps Gold Mine (Northern Star) and intrusion-related gold programs probably analogous to King of the Hills and Darlot Centenary mines positioned southwest and north of the Music Effectively Gold Mission respectively. The Music Effectively Gold Mission is taken into account to be potential for gold, base metals and in addition for lithium, tantalum and REE, which can even be investigated.
The tenement space is characterised by a strongly deformed stratigraphy and intrusions and comprises quite a few predominantly west-northwest anastomosing subparallel shear zones offering hyperlinks probably to Surprise Deeps and Thunderbox gold mines (Northern Star) positioned to the west of the undertaking space; and the Hub (Redcliffe) gold deposit positioned to the east (Genesis).
As well as, a sequence of north-northwest and north-northeast constructions development by means of the undertaking space and constructions of an analogous orientation host lots of the gold deposits within the Leonora / Laverton space.
There are quite a few working gold mines within the district together with the Darlot Gold Mine (~12 km to the north), the King of the Hills Mine (~20 km to the west), the Leonora Gold Camp (~30km to the southwest), and the Thunderbox Gold Mine (~20 km to the west) (Determine 2).
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