Newly-listed explorer Augustus Minerals (ASX:AUG) has confirmed the presence of ironstones that could host rare earth elements (REEs) across several zones of its Ti-Tree Project in Western Australia.
The company reports ironstones have been discovered and mapped at the Bentley prospect over a zone of about 400m. At Mac’s Well, ironstones have been confirmed inside a ‘large’ radiometric anomaly.
Augustus says results from rock chip samples are expected over the next few weeks. The company also notes the rocks physically look similar to other known ironstones that host REE deposits in the region.
In the near term, Augustus says exploration fieldwork will continue to be an immediate focus as it works targets up to a drill-ready status. The company will also conduct Aboriginal heritage surveys over priority targets to allow for drilling during Q3 2023.
Commenting on the results, Augustus Minerals Managing Director Andrew Reid says: “The day after a successful ASX listing, the Augustus team was in the field assessing, sampling, and working through the main high-priority targets, primarily on the lithium, rare earths, and copper prospects.
“Augustus has successfully confirmed ironstones at Mac’s Well as well as discovered a new ironstone occurrence not previously identified”
Augustus has successfully confirmed ironstones at Mac’s Well as well as discovered a new ironstone occurrence not previously identified. We eagerly await results from the sampling of these 2 prospects.
Concurrently, we have mobilised a team of geologists to conduct more in-depth field mapping to better refine and target prospects to get them drill-ready.
Augustus will continue to focus on the rapid advancement of our unique portfolio of prospects across multiple commodities prior to the commencement of drilling activities in the near term.”
Since listing on the Australian Securities Exchange (ASX) on 25 May 2023, Augustus reports it has completed a systematic reconnaissance and assessment of priority targets across the entire Ti-Tree tenement package and conducted field mapping and rock chip sampling for potential lithium, REE, and copper-gold prospects.
Augustus Minerals is a Perth-based mineral explorer focused on exploring for critical minerals considered vital for the electric vehicle (EV) and renewable energy sectors.
The company holds about 3,600km-square of tenements in the Gascoyne region of Western Australia, known as the Ti-Tree Project. This project hosts an array of ‘high-quality’ drill targets considered prospective for lithium, REEs, and copper.
Write to Harry Mulholland at Mining.com.au
Images: Augustus Minerals Ltd
