Augustus Minerals (ASX:AUG) has begun trading on the Australian Securities Exchange (ASX), bringing to investors a range of exploration targets covering lithium, rare earth elements (REE), and copper.
The targets lie across a ‘large’ strategic contiguous land package of about 3,600km-square in the Gascoyne region of Western Australia, encompassing 85km of the ‘large’ regional geological structure, the Ti-Tree Shear.
This news comes after the company raised $10 million in a successful initial public offering (IPO), which Augustus says was oversubscribed and well-supported.
Commenting on the listing, Augustus Minerals Managing Director Andrew Reid says: “The successful listing and raising of $10 million, which was oversubscribed, is a testimony to the quality of the asset, its location and the potential that it could unlock through active discovery.”
“The successful listing and raising of $10 million … is a testimony to the quality of the asset, its location and the potential that it could unlock through active discovery”
Augustus says in the last 5 years, the company has generated an ‘outstanding’ inventory of ‘high-quality’ targets, with similar geological host rocks and conditions as are present in nearby discoveries. The company plans to explore these targets with a focused systematic scientific program over the coming months.
Additionally, commenting on the company’s land package and upcoming activities, Andrew Reid says: “The interest and activity in the Gascoyne region geologically is backed by at least a dozen companies actively exploring, with several of them embarking on major drill-outs to define and increase mineral resources from recent discoveries.
We look forward to getting on the ground to commence exploration activities in earnest and report back on what is shaping up to be an exciting project locality.”
Augustus Minerals is a newly ASX-listed mineral explorer, focused on exploring critical minerals. The company’s Ti-Tree Shear Project is located in the Gascoyne region of Western Australia and contains 20 granted exploration licences covering 3,600km-square as a single coherent block.
Write to Aaliyah Rogan at Mining.com.au
Images: Augustus Minerals Ltd
