Augustus Minerals (ASX:AUG) has uncovered six key gold targets for exploration within the newly acquired Music Well Gold Project in Western Australia.
As Mining.com.au previously reported, Augustus completed the acquisition of privately held Music Well Gold Mines, which was the owner of the Music Well Project.
The company says the project contains several areas of potential gold mineralisation which require follow-up. The geology team will be on the ground shortly to begin work to further define high-priority drilling targets.
Augustus, which has a market capitalisation of $6.62 million, reports rock chips collected by Music Well and historical explorers have recorded grades up to 25.1 grams per tonne gold, 7.9g/t gold, and 5.33g/t gold from the St Patricks, Clifton East, and Bulls Head prospects.
Meanwhile, at the Jindardie Creek target, the company says there is an area of broad ultra fine + (UFF) gold anomalism, with maximum values of 8.1 parts per billion (ppb) gold, that occurs in outcrop, subcrop, and proximal colluvium at the top of the northern breakaway area.
The company adds elevated soil mercury is partly coincident with elevated soil gold. The main anomaly is 2km by 1km in area.
Further, the Western Terrace targets cover the central and southern parts of the tenement and comprises six areas of variably elevated UFF soil gold anomalies covering a 12km by 8km area. The highest soil assay values recorded 67ppb gold.
The Music Well Project is located 35km north of Leonora in the Leonora-Laverton Greenstone Belt of Western Australia. The project comprises 10 granted licences covering 1,052km2 and two licences in application covering a further 293km2.
Augustus believes that adding a gold-focused exploration project of this size provides optionality and complements its copper-base metals-uranium focus at the Ti Tree Shear Project in the Gascoyne region.
Augustus Minerals is a junior mineral explorer focused primarily on its two assets prospective for gold and critical minerals in Western Australia. The company’s assets are also considered prospective for copper, lithium, uranium, and rare earths.
Write to Aaliyah Rogan at Mining.com.au
Images: Augustus Minerals
