Augustus Minerals Restricted (ASX: AUG) has executed a binding share buy settlement (“SPA”) with MCA Nominees Pty Ltd (“MCA”) to amass 100% of the issued capital in Music Properly Gold Mines Pty Ltd (“MWGM”), an entity which holds the exploration licences comprising the Music Properly Gold Undertaking (“Undertaking”). The Undertaking is within the Jap Goldfields area of Western Australia situated 35km north of Leonora.
Augustus Minerals Restricted( ASX: AUG) (“Augustus” or the “Firm”) is happy to announce that’s has executed a binding share buy settlement to amass 100% of the issued capital in Music Properly Gold Mines Pty Ltd, which holds the exploration licenses and functions comprising the Music Properly Gold Undertaking situated 35km north of Leonora within the Leonora / Laverton Greenstone Belt of Western Australia.The massive contiguous tenement package deal covers an space of 1,345 sq km in a area that hosts gold endowment of >12Moz1 gold and >450kozpa gold production2 inside 50km of the mission.
Neighbouring working mines embody:
Northern Star3 (ASX:NST)
Thunderbox Mine3 (4.2M oz Au Sources) 20km to the westWonder Underground (0.9Moz Au Resources3) <1km west
Genesis Minerals4 (ASX:GMD)
Hub Undertaking (0.7 Moz Au Sources) adjoining Music Properly Undertaking
Vault Minerals5 (ASX:VAU)
Darlot Gold Mine (1.9 Moz Au Sources) is situated 12km northKing of the Hills mine (4.1 Moz Au Sources) 20km to the south westExtensive geophysics, gravity, soil sampling and rock chipping have already been accomplished with information validation and goal prioritization underway Potential for gold discoveries from the devoted and targeted Augustus exploration group over the subsequent 2 years.
Andrew Ford, GM Exploration commented
“The acquisition of such a big potential gold exploration package deal in shut proximity to working mines owned by Northern Star, Genesis and Vault Minerals with +12M oz of assets and over 450kozpa gold production2 is a big coup for Augustus (Determine 1).
“With the gold worth now exceeding A$4,000/oz it offers Augustus Shareholders with vital publicity to future discovery in one of many biggest gold provinces on the earth”.
Background
Comprising ten granted exploration licences masking an space of roughly 1,052km2 and two exploration licences in utility masking an space of 293km2. The entire tenement package deal is 1,345 sq km making the Undertaking one of many largest exploration packages within the area.
Augustus believes that including a gold focussed exploration mission of this dimension offers optionality and enhances its copper/base-metals/uranium focus on the Ti Tree Shear mission within the Gascoyne.
Music Properly Undertaking
The Undertaking is situated throughout the Murrin Murrin area, Kurnalpi Terrane of the Yilgarn Craton within the Leonora / Laverton Greenstone Belt of Western Australia.
The Yilgarn is a globally vital mineralised province for gold, nickel and aluminium, and in addition hosts main deposits of different minerals corresponding to copper, zinc and iron together with different assets corresponding to tantalum, lithium, vanadium, uranium and uncommon earth components (“REEs”).
Determine 1: Undertaking location, regional gold Mineral Sources and dealing processing crops. See Desk 1 for supply information for Mineral Sources of Gold Deposits within the Leonora-Laverton District).
MWGM initiated the consolidation of tenements and commenced discipline work, on floor exploration and focusing on research from November 2019. Within the ensuing 5-year interval from November 2019 to November 2024 the Firm has consolidated a tenement package deal of 1,345 sq kms and has recognized precedence targets for observe up exploration work for Air Core, RC and Diamond Drilling.
These excessive precedence targets have been recognized through the use of MWGMs “Three – Schema Gold Prospectivity Mannequin” which contains and utilises classical structural mapping strategies, geochemistry corresponding to Extremely Superb + (UFF) soil sampling, rock chip sampling and superior geophysics. This multi-disciplinary strategy to exploration utilising high-resolution airborne magnetics, gravity and radiometric information, together with (UFF) soil sampling over + 1,052sq kms additionally consists of the reinterpretation of the strong geology, construction and deformation historical past of the area to tell native interpretation of the geological framework and identification of the targets accomplished over a 5-year interval throughout the Undertaking space.
The geological research, accomplished with the help of a gaggle of technical specialists, together with Southern Geoscience, Fathom Geophysics, Tower Geoscience, Geobase Australia, Daishat Geodictic Gravity Surveyors, Walter Witt Expertise and GeoSpy Australia utilising high-resolution airborne magnetics, gravity and radiometric information.
The principal goal varieties embody gold in shear zones inside granitoids and greenstones (analogous to the close by Surprise Deeps Gold Mine (Northern Star) and intrusion-related gold methods probably analogous to King of the Hills and Darlot Centenary mines situated southwest and north of the Music Properly Gold Undertaking respectively. The Music Properly Gold Undertaking is taken into account to be potential for gold, base metals and in addition for lithium, tantalum and REE, which may also be investigated.
The tenement space is characterised by a strongly deformed stratigraphy and intrusions and comprises quite a few predominantly west-northwest anastomosing subparallel shear zones offering hyperlinks probably to Surprise Deeps and Thunderbox gold mines (Northern Star) situated to the west of the mission space; and the Hub (Redcliffe) gold deposit situated to the east (Genesis).
As well as, a collection of north-northwest and north-northeast constructions pattern by the mission space and constructions of the same orientation host most of the gold deposits within the Leonora / Laverton space.
There are quite a few working gold mines within the district together with the Darlot Gold Mine (~12 km to the north), the King of the Hills Mine (~20 km to the west), the Leonora Gold Camp (~30km to the southwest), and the Thunderbox Gold Mine (~20 km to the west) (Determine 2).
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