- The Department of Primary Industry has registered Ausmon Resources’ (AOA) application for a new 14-block tenement in New South Wales
- The McAlpine tenement is located immediately west of the company’s granted Brungle Creek tenement, EL 8954
- Ausmon Resources’ tenement application was registered under Exploration Licence Application 6242
- Once granted, the tenement will increase the company’s exposure to a region with potential cobalt, copper, chromite, gold and nickel
- Ausmon Resources is in the grey and trading at 0.8 cents per share
The Department of Primary Industry has registered Ausmon Resources’ (AOA) application for a new 14-block tenement in New South Wales.
The McAlpine tenement is located immediately west of the company’s Brungle Creek tenement, which has already been granted under Exploration Licence (EL) 8954.
Ausmon’s latest tenement application was registered under Exploration Licence Application (ELA) 6242. The company chose to apply for exploration rights in the area after recently completing phase one field exploration at the Brungle Creek tenement.
The ELA 6242 area covers the McAlpine copper and chromite historical workings. Once it is granted, the McAlpine tenement will substantially increase Ausmon’s exposure to an exploration region that hosts considerable potential for cobalt, copper, chromite, gold and nickel.
Such potential has already been identified at Brungle Creek and could very well continue to the west in the adjacent McAlpine tenement.
Thanks to their proximity to the serpentine ridge of the Honeysuckle Range, the McAlpine and Brungle Creek tenements have the opportunity to explore the Southern Coolac Serpentinite Belt. The Belt hosts undeveloped cobalt resources at Thadunggra, north of Brungle Creek.
Numerous copper and chromite prospects occur along the serpentinite belt’s length, although the only recorded production at any of these prospects is from the McAlpine Copper Mine. The McAlpines prospect can boast 38 tonnes of production, for 4.06 tonnes of copper.
Several prospects within the ELA 6242 area have shallow pits and shafts that have also shown potential. For example, rock assays from the Geary’s prospect showed 20.4 per cent copper and 166 parts per million of silver.
The company has not commented on how long it may take for the ELA 6242 tenement to be granted.
Ausmon Resources is in the grey, trading at 0.8 cents per share at 10:31 am AEDT.