Augustus Minerals (ASX:AUG) has started its maiden reverse circulation (RC) drilling program at the Ti-Tree Project in the Gascoyne region of Western Australia.
The $26.54 million market capitalisation company will be targeting copper-gold, molybdenum, and rare earths in the project area.
The drilling work will comprise 10,000m of RC drilling across a number of key targets previously identified by Augustus, marking the first-ever drilling to be conducted at depth on several of these prospects.
Key target areas include Minnie Springs, Copper Ridge, Nick’s Bore, Crawford, Crawford South and Coo Creek areas.
Commenting on the drilling, Augustus Minerals Managing Director Andrew Reid says: “Commencement of our first drill program is a significant milestone for Augustus and has the potential to transform the asset for us. The region is target-rich and offers many opportunities to discover near surface mineralisation.”
“The region is target-rich and offers many opportunities to discover near surface mineralisation”
The company anticipates sharing the first results from this drilling work during the December quarter of this year.
Augustus Minerals is a critical minerals exploration company focused on its 3,600km-square of tenements in the Gascoyne region of Western Australia. As of 30 June 2023, the company had $8.736 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Augustus Minerals
