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Augustus Minerals Ltd (ASX:AUG) has identified several VTEM (versatile time domain electromagnetic) targets through a survey at its Ti-Tree project in Western Australia, which is targeting copper, gold, uranium, and critical minerals.
The company ran a VTEM Max Survey across two key sites at the Gascoyne region project, finding three conductive targets at the Money Intrusion (which is focused on copper, nickel and platinum grade elements, or PGE), and one strong conductive response at the Munyaballya Well uranium target.
One of the targets at the Money Intrusion – MI_103 – is believed to be a bedrock source measuring 1,000 metres in strike by 250 metres down dip and 10 metres wide dipping vertically, with modelling supporting this.
Based on the same modelling, Augustus believes there is potential for the conductor to be the result of separate conductor plates dipping at a shallower angle.
The conductive response at Munyaballya Well was found to be close to the surface, measuring 10 kilometres along strike, and between 250 metres and 1.5 kilometres wide.
It was interpreted to correspond to uranium prospective clay zones within the dolomitic marl (mudstone) horizons.
Augustus aims to kick off a suite of exploration work at Ti-Tree in 2025, including heritage surveys, ground geophysics and aircore drilling to advance the Money Intrusion Cu-Ni-PGE.
General manager of exploration Andrew Ford said the company would have much material to work on based on these survey results.
“The interpretation and subsequent modelling by SGC have defined strong conductors on
the Money Intrusion with further ground-based EM recommended as a follow-up to define
the plates for drill testing,” he said.
“At Munaballya Well the near-surface zone of conductive clay is shown to be extensive and
prospective for uranium mineralisation as demonstrated by radiometric anomaly. This zone
would be best tested by shallow aircore drilling.”
Augustus has been selling at 4.2 cents through Thursday’s trade.
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