- Auris Minerals (AUR) has released an exploration update for the Morck Well joint venture project in WA’s Bryah Basin
- The joint venture is held with fellow ASX-lister Sandfire Resources (SFR), which is funding exploration to earn a 70 per cent interest and complete a feasibility study
- Over the March quarter, aircore drilling progressed, with 290 holes completed so far in hopes of making a significant copper or gold discovery
- Around 400 aircore holes are yet to be drilled as part of this drilling program
- Auris is up 2.47 per cent and shares are trading for 8.3 cents
- Sandfire is up 3.02 per cent and shares are trading at $6.14
Auris Minerals (AUR) has released an update on exploration at the Morck Well joint venture project in the Bryah Basin of Western Australia.
The joint venture is held between Auris Minerals and fellow ASX-lister, Sandfire Resources (SFR). A farm-in agreement was struck in February 2018 and includes the Morck Well and Doolgunna projects in WA.
Under the joint venture terms, Sandfire is funding and undertaking exploration to earn a 70 per cent interest. It intends to eventually complete a feasibility study for the project upon discovering at least 50,000 tonnes of copper.
Strategically, the Morck Well project is located just 22 kilometres from Sandfire’s DeGrussa copper mine, in close proximity to Auris’ wholly owned Feather Cap project and along strike from Westgold Resources’ (WGX) 112,000-ounce Durack resource.
Over the March quarter, Sandfire progressed aircore drilling at Morck Well with 23,136 metres completed so far. Of the 290 holes drilled, results have been received for 132 of them.
Significant gold results include 10 metres at 2.05g/t gold from 65 metres including five metres at 3.01g/t gold from 65 metres and five metres at 0.89g/t gold from 50 metres.
“Morck Well continues to prove itself as an exciting target and we are delighted with SFR’s continued aggressive approach to exploration, including plans to infill previous significant results, in their quest to find the next major copper/gold discovery in the Bryah Basin,” Auris Managing Director Mike Hendriks said.
Around 400 aircore holes are yet to be drilled as part of the current infill drilling program.
The companies have also planned to conduct more heritage surveys to narrow the line spacing and enable the follow-up of gold and base metals anomalies.
Auris is up 2.47 per cent and shares are trading for 8.3 cents at 1:29 pm AEST.
Sandfire is up 3.02 per cent and shares are trading at $6.14 at 1:40 pm AEST.