Augustus Minerals Launches Airborne VTEM Survey at Ti-Tree Project

AUGUSTUS MINERALS LIMITED (AUG) Share Update August 2024 Monday 5th

August 2024 Monday 5th by Michael

Augustus Minerals Commences Airborne VTEM Survey at Ti-Tree Project

Augustus Minerals Limited (ASX: AUG) has announced the commencement of an airborne Versatile Time Domain Electromagnetic (VTEM) Max survey over its Ti-Tree Project in the Gascoyne Region, aiming to identify potential mineral deposits.

Instant Summary:

VTEM Max survey initiated over Cu-Ni-PGE, Broken Hill Style, and Uranium targets.
Survey covers Money Intrusion, Copper Ridge, Nick’s Bore, Coo Creek, and Munaballya Well.
646-line km of survey conducted by UTS Geophysics.
Final data expected within four to six weeks.

Survey Details

The VTEM Max survey has started over three key areas within the 3,600km² Ti-Tree Project. The survey aims to locate discrete conductive anomalies and map lateral and vertical variations in resistivity, which can indicate the presence of valuable minerals.

Conducted by UTS Geophysics, the helicopter-borne survey covers 646-line km and is expected to be completed within a week. Final data from the survey should be available in four to six weeks.

Target Areas

The survey focuses on several high-potential areas:

Money Intrusion: This area is part of the regional Mundine Well Dolerite Suite and has shown potential for Ni-Cu-Co-PGE mineralization. The VTEM Max system will help identify conductive anomalies that may indicate concentrations of massive to semi-massive sulphide.
Munaballya Well: Located within a 10km by 700m sub-basin of Devonian aged sediments, this area has shown significant uranium anomalism. The VTEM survey aims to explore the potential for economic uranium mineralization.
Coo Creek: Originally defined by an Ultrafine soil sampling survey, this area has shown strong anomalism in Pb, Ag, and Zn. The VTEM survey will help identify potential Broken Hill Style base metal massive sulphide mineralization.

Additional Exploration Activities

In addition to the VTEM survey, Augustus Minerals continues its soil sampling program and plans to commence diamond drilling at the Minnie Springs Cu-Mo prospect later this month.

The company is committed to exploring critical minerals vital for electric vehicles and renewable energy, with a focus on lithium, rare earths, and copper.

Impact Analysis

The commencement of the VTEM survey is a positive development for Augustus Minerals. The identification of potential mineral deposits could significantly enhance the company's resource base and attract investor interest. The survey results, expected in mid-September, will be crucial in determining the project's potential and future exploration activities.

Investor Reaction:

Analysts are likely to view the commencement of the VTEM survey positively, as it demonstrates Augustus Minerals' proactive approach to exploring and developing its mineral assets. The potential discovery of valuable mineral deposits could lead to an increase in the company's stock price, depending on the survey results.

Conclusion:

Investors should keep an eye on the upcoming survey results, which are expected in mid-September. Positive findings could significantly impact Augustus Minerals' valuation and future prospects. The company's strategic focus on critical minerals positions it well for growth in the electric vehicle and renewable energy sectors.