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Ausmex Mining identifies massive 2,000-metre-long conductive structure at Golden Mile Gold Project

The discovery correlates with independent expert Professor Ken Collerson’s interpretation that large iron-oxide-copper gold (IOCG) or iron-sulphide-copper-gold (IOSG) is closely associated with the Golden Mile mineralisation.

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The geological interpretation also possibly extends towards Newcrest’s Canteen drilling

Ausmex Mining Group Ltd (ASX:AMG) has identified a massive 2,000-metre-long conductive structure in recent 3D modelling work at the Golden Mile Gold Project south east of Cloncurry, Queensland.

The company engaged GeoDiscovery Group to conduct geophysical processing and 3D modelling based on various geophysical data sets, including a detailed a detailed heli-sub audio magnetics (SAM) survey, detailed regional magnetic data and a versatile time domain electromagnetic (VTEM) survey.

The 3D model delineated a 2,000-metre strong conductive drill target up to 400 metres wide and ranging from about 200 to 500 metres in depth within its mining tenements, including the Golden Mile plunging south and extending under the Mt Freda mining lease.

 

Schematic geological interpretation of the large conductive structure

Next steps

A stage-two 3D modelling program is being designed to continue modelling the conductive structure further south to the Evening Star region.

Ausmex will begin a major deep (250 – 650 metre depth) 10,000-metre reverse circulation and diamond drilling program to test the 2,000-metre-long structure, with forward planning and rig contracting already underway.

Drilling will also continue within the company’s other major projects including the Trump, Evening Star and Golden Mile over the already identified and known oxide mineralisation prospects.

Quick facts: Ausmex Mining Group Ltd

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