The Western Australian Government has granted Augustus Minerals (ASX:AUG) up to $110,000 through its Exploration Incentive Scheme for diamond drilling at the Ti Tree Project in Western Australia.
Drilling will focus on the Minnie Springs prospect and will test the northern half of a 2km-long copper-in-soil anomaly.
Augustus, which has a market capitalisation of $5.44 million, says the program is designed to outline a 550m-deep and 1km-wide cross-section of a large 3km-by-1km copper-molybdenum porphyry system.
The drilling program will also complement a recently completed 3,200m reverse circulation drill program that tested the northern half of the 2km-long copper in-soil anomaly.
“The resultant data will enable mapping of the lithology and alteration to a depth of 550m and potentially intersect, or provide vectors to, higher grade molybdenum-copper mineralisation using a molybdenum-copper porphyry geological model,” General Manager of Exploration Andrew Ford says.
Assays from the program are expected to be available over the next month.
The Minnie Springs deposit hosts porphyry-related copper-molybdenum mineralisation. A molybdenum exploration target has been defined for the area of between 12 and 84 million tonnes.
The Ti Tree Project encompasses 20 granted exploration licences covering a 3,600km2 area. The project lies 200km east-northeast of Carnarvon in Western Australia.
Augustus Minerals is a critical minerals-focused explorer that owns 3,600km2 of tenements in the Gascoyne region of Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Augustus Minerals
