Junior copper explorer Ausmex Mining (ASX: AMG) has published an updated set of drilling results from its batch of prospective copper leases in Queensland, Australia.
The standout highlights from this particular batch is a 60 metre at 1.3% copper sample and 54 metres at 1.0% copper sample – both collected from the surface at its ‘Trump’ prospect.
The Trump mining lease is a historical high‐grade Copper mine in Queensland approximately 50km south of Cloncurry. Historical records indicate the average production grade of the mine was 38.5% copper during past production.
Today’s published results are the third consecutive time Ausmex has published successful copper exploration results with previous high-grade samples having been reported from Ausmex’s ‘Answer’ and ‘Joker’ mining leases located nearby.
Ausmex says that a sixteen‐hole scout RC drilling program was completed late December 2017, with five of the total sixteen RC holes now validated and interpreted. The remaining nine RC holes are “due for validation and interpretation within the next 7 days,” according to a regulatory market filing with the ASX.
From all of its resource assets, Ausmex is primarily focused on three prospective mining leases dubbed ‘Trump’, ‘Answer’ and ‘Joker’. More broadly, Ausmex has a suite of high-grade gold projects including The Gilded Rose and Mt Freda projects which are currently undergoing resource drilling and upgrades. Furthermore, Mt Freda has the potential to produce cobalt which will be further investigated as part of ongoing assessments in preparation for the impending drilling season.
In November last year, Ausmex published RC drill hole assays confirming the presence of a high-grade gold zone which delivered initial results of 4m @ 11.35g/t gold including 3m @ 14.56g/t from a depth of 41 metres. Ausmex then followed up by reporting cobalt mineralisation returning up to 2,030g/t cobalt identified within a 1km shear zone within the Mt Fred Project, in December last year.
“A hat-trick of high-grade copper results from three maiden drilling campaigns is a fantastic result. Ausmex has now three standalone high‐grade copper projects including ‘The Trump’, ‘The Joker’ and ‘The Answer’. Two of these projects are on current granted mining leases, with all three‐sharing outcropping mineralisation from surface,” said Ausmex Managing Director Matt Morgan.
“All three are located within potentially economic trucking distances from current copper oxide and primary ore processing facilities within the Cloncurry region,” he added.