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- Augustus Minerals (ASX:AUG) is to collect 4000 samples at Ti-Tree
- Company reports “this represents first systematic exploration”
- Geotechs to stay nearby a known shear zone
- Completion expected Q2 2024
- Shares last traded at 4.3 cents
Augustus Minerals’ (ASX:AUG) geotechs will be busy in the field at Ti-Tree straddling along the boundaries of a known shear zone while they collect some 4000 soil samples on-site.
The company today reported this will be the first “systematic” exploration to have been carried out in the area with a completion date tipped for Q2CY24.
The company is looking for gold and lithium on-site with copper also on the mind.
Augustus is to try out target areas of interest new and old including freshly identified assets and extensions of existing targets.
Management highlighted the soil sample run is intended to help solve three problems. First, to test unexplored areas of the Ti-Tree Shear Zone.
Next, the company intends to sample southeast extensions of Minga Bar Fault, already on its radar.
Lastly, Augustus wants to assess the validity of historical results indicating potential copper mineralisation.
“We expect the survey will generate new targets for drill testing which will complement the RC and DDH drilling activities that are about to re-commence at our Minnie Springs deposit,” Augustus Managing Director Andrew Reid said.
Augustus shares last traded at 4.3 cents.
