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Australian Mines zeroes in on high-grade copper and gold targets

The copper grades of all 87 rock chip samples averaged 6.3%.

Copper-rich rock grab samples from the Bali Shear Zone
Copper-rich rock grab samples from the Bali Shear Zone

Australian Mines Limited (ASX:AUZ) (FRA:MJH) has received positive exploration results from two of its Western Australian assets  - the Warriedar Gold Project and the Bali Copper Project.

The projects are currently held or being transferred to Australian Mines’ fully-owned subsidiary Norwest Minerals Pty Ltd.

Bali Copper Project

At the Bali Copper Project, high-grade copper results in rock chips were sampled along a 3-kilometre section of the Bali Shear Zone.

33 samples reported more than 5% copper, 17 samples returned an impressive 10% copper or greater and the best recorded sample assayed 36.8% copper.

The copper grades of all 87 rock chip samples averaged 6.3%.

Warriedar Gold Project

Gold assays from the surface sampling program at the Warriedar Gold Project returned a number of high-grade gold results including rock chips assays up to 28.6 g/t gold.

Reid’s Ridge Gold Mine at the Warriedar Gold Project

The project has a number of drill-ready targets including the historical Reid’s Ridge Gold Mine and the Mount Laws 1.5-kilometre mineralised trend.

A 2,000 metre reverse circulation drill program is planned to target potential gold mineralisation down-dip of previous drill intercepts and other targets at Mount Laws post the proposed IPO of Norwest.

READ: Australian Mines secures $5 million for IPO spin-out

Quick facts: Australian Mines Ltd

Price: 0.015 AUD

ASX:AUZ
Market: ASX
Market Cap: $59.42 m
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