- Ausmex Mining (AMX) has intersected high-grade gold at the Mt Freda Project in Queensland
- Five diamond core holes and five reverse circulation (RC) holes were drilled with aims to upgrade the current JORC resource estimate
- Results have been received for the diamond holes, while assays for the RC holes are expected shortly
- Grades peaked at 18.59g/t gold and, once all results have been received, Ausmex will release an updated mineral resource estimate
- Additionally, drilling has begun at the Comstock Lode, as well as the Falcon and Shamrock gold mines at the Golden Mile Project
- Ausmex is up 9.80 per cent on the market and shares are trading at 5.6 cents
Ausmex Mining (AMX) has intersected high-grade gold at the Mt Freda Project in Queensland.
Five diamond core holes and five reverse circulation (RC) holes were drilled with aims to upgrade the current JORC resource estimate.
The current mineral resource reads 1.7 million tonnes at 2.06g/t gold for 113,000 ounces of gold.
Results have been received for the diamond holes, while assays for the RC holes are expected shortly.
Once all results have been received, Ausmex will release an updated mineral resource estimate.
Significant new results include three metres at 18.59g/t gold within five metres at 11.24g/t gold from 133 to 138 metres and four metres at 11.4g/t gold within eight metres at 5.93g/t gold from 48 to 56 metres.
Ausmex has also begun infill drilling on the Comstock Lode at the Golden Mile Project in Queensland.
Additionally, three resource infill diamond core holes and two geotechnical holes are underway at the Falcon and Shamrock gold mines.
Once ore has been received, it will be processed at the WH Soul Pattinson CIP processing plant in Cloncurry.
Ausmex is up 9.80 per cent on the market and shares are trading at 5.6 cents at 11:36 am AEDT.