- Ausmon Resources’ (AOA) shares have climbed 80 per cent after beginning a reverse circulation (RC) drilling program at Stirling Vale in New South Wales
- The company will drill 10 holes for 1200 metres and is targeting cobalt, zinc and gold within a 1.5-kilometre zone
- Previous sample results include 9220 parts per million arsenic, 216 parts per million cobalt and 0.45 parts per million gold
- Drilling is expected to be completed before the end of the month and results will follow next month
- Ausmon’s shares have skyrocketed 80 per cent to trade for 0.9 cents
Ausmon Resources’ (AOA) shares have climbed 80 per cent after announcing a reverse circulation (RC) drilling program at Stirling Vale in New South Wales.
The company will drill 10 holes for 1200 metres and is targeting cobalt, zinc and gold. The drilling will be centred within a 1.5-kilometre zone along the western limb of the Stirling Vale Synform.
Early last month, Ausmon received results from samples collected in June this year. The company collected three rock samples from a garnet sandstone which returned arsenic results of up to 9220 parts per million (ppm) and gold of up to 0.45ppm.
Arsenic is known to be a strong indicator of sulphide mineralisation and Ausmon will use these sample results for its current drilling program.
Additionally, results received at the start of the year returned surface assays of up to 216ppm cobalt.
The RC drilling program is expected to be completed before the end of this month and the company expects to receive results next month.
Ausmon’s shares have skyrocketed 80 per cent to trade for 0.9 cents at 2:09 pm AEST.