Augustus Minerals (ASX:AUG) has unveiled its 2024 exploration plans for its Ti-Tree Project in Western Australia including follow up reverse circulation (RC) and diamond drilling of multiple copper sulphide intercepts from 2023.
The $19.73 million market capitalisation company reports other activities include RC drilling at known prospects not yet drill tested; a geophysical program over the Money Intrusion searching for nickel-copper sulphide targets; and soil sampling southeast of the Minnie Springs area and west of the Copper Ridge areas for additional copper, molybdenum, and gold mineralisation.
The company will also follow-up on lithium soil anomalies along the Ti Tree Shear at the Peak Bore prospect.
Managing Director Andrew Reid says the upcoming activities come only 7 months since ASX-listed, in which time the company has completed regional reconnaissance over ‘substantial’ portions of the tenement package, finalised 3 heritage surveys, and a 9,000m RC drilling program.
“In 2024 we intend to expand upon what we have learned in 2023 delivering great exploration results as we begin to follow up recent results including the copper complex at Minnie Springs while working at the same time to explore for new prospects in unexplored territory.”
Augustus Minerals currently holds a 100% interest in 3,600km-square of tenements in the Gascoyne Region of Western Australia, which hold an array of high quality drill targets considered ‘highly prospective’ for lithium, rare earths, and copper.
As of 30 September 2023, Augustus Minerals had $7.404 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Augustus Minerals