Ausmex Mining Group (ASX:AMG) has received promising infill drilling results from its resource upgrade programme at the Mt Freda Project in Queensland.
Mt Freda was a producing gold mine until 1990 and ceased operations when the gold price went below $380 in the late 1980’s. The mine is located approximately 60 km by road from the regional mining town of Cloncurry in NW Queensland.
The Infill drilling programme was designed to drill between, already drilled holes to establish continuity of the cold grades and mineralisation. Recennt diamond core hole results and the new RC holes have confirmed the continuity of grade and gold mineralisation, both at depth.
This will now be used for the upgraded JORC resource estimates.
Notably, the gold mineralisation continues at a depth of 230m, which is almost five times deeper than the bottom of the historical open cut Mt Freda mine.
Highlights of the latest infill results include:
- 12metres @ 2.23g/t Au from 181-193m including 4m @ 3.60g/t Au from 189-193m
- 6metres @ 4.37g/t Au from 97-103m including 2m @ 5.37g/t Au from 97-99m;
- 3metres @ 5.01g/t Au from 100-103; and
- 3metres @ 2.01g/t Au from 243-246m
Additional recent drill results include:
- 6m @ 10.10g/t Au and 2m @24g/t Au within 24m @ 2.80g/t Au
- 5M @ 6.90g/t Au within 16m @ 2.60g/t Au
- 3m @ 11.60g/t Au within 12m @ 4.10g/t Au
- 1m @ 32.70g/t Au within 5m @ 7.90g/t Au
- 2m @ 13.20g/t Au and 1m @ 21.80g/t Au within 6m @ 4.80g/t Au
- 1m @ 19.30g/t Au within 4m @ 6.30g/t Au; and
- 1m @ 29.30g/t Au within 5m @ 7.53g/t Au