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AUGUR RESOURCES LIMITED

ASX: AUK

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Augur Resources is a New South Wales (NSW) based resource development company, with a focus on copper, gold and nickel projects within the Lachlan Fold Belt of central NSW. The region hosts a number of Australia’s most significant operating copper-gold mines and remains highly prospective for copper, gold, base metal and nickel deposits.

Augur discovered the Homeville nickel and cobalt deposit in 2008 (JORC inferred resource of 12.2Mt at 0.91% nickel and 0.06% cobalt) and continues to seek to define further JORC compliant resources using advanced exploration techniques and extensive drilling programs within our key project areas. Our aim is then to develop the economically viable resources.

The company has a highly experienced Board and Management team, which includes extensive local and international experience in the exploration and development of mineral deposits including porphyry copper-gold, epithermal gold-silver and base-metal deposits.

At Yeoval the company is focussed on advancing a number of porphyry style mineralised prospects. The project area is located approximately 55km from the Northparkes copper-gold mine (50Mt at 1.4% copper and 0.4 g/t gold) and approximately 90 km from the world class porphyry deposits at Cadia (554 Mt at 0.14% copper and 0.55 g/t gold) and Ridgeway (231 Mt at 0.4% copper and 0.83 g/t gold).

The Yeoval project contains three advanced prospects Yeoval Mine, Goodrich and Cyclops. Yeoval Mine prospect is a porphyry copper-gold deposit with molybdenum and silver credits. The deposit was one of the first porphyry deposits found in Australia. Drilling during the early to mid 1970’s identified a broad copper mineralised zone. No further drilling occurred at Yeoval until Augur Resources commenced drilling during 2008. Some of the more significant results include 50m at 0.54% copper, 0.48 g/t gold and 4.3 g/t silver including 14m at 1.32% copper, 1.27 g/t gold and 13.6 g/t silver and 90m at 0.90% copper, 0.14 g/t gold and 3.7 g/t silver, including 18m at 2.01% copper, 0.40 g/t gold and 10 g/t silver.

Goodrich is an open cut copper-gold mine which operated at various times since 1868. Drilling by previous explorers identified disseminated copper-gold mineralisation beneath the old workings (50m at 0.4% copper and 0.3 g/t gold). At Cyclops drilling by CRA returned 15m at 1.01% copper from 45m depth.

At Collerina, Augur is conducting exploration to further increase the nickel-cobalt resource at Homeville and to test a number of copper and gold prospects. Gold and copper has been historically mined within the Collerina area. Augur is particularly focussed on identifying copper sulphide mineralisation in the vicinity of the abandoned Collerina mine site and to the north of the Collerina Mine site where copper oxide has been identified.

In addition Augur is carrying out exploration across its other tenements for further gold and copper-gold porphyries, high grade lode gold and copper-gold resources.

Yeoval EL 6311

The Yeoval tenement covers an area of approximately 147 km2. The tenement is centred on the Yeoval township and is located 35km south of Wellington and 80 km north of Orange in central NSW. The Northparkes copper-gold mine (50 Mt at 1.4% copper and 0.4 g/t gold) is approximately 55km SW of the project area and the world class porphyry deposits at Cadia (554 Mt at 0.14% copper and 0.55 g/t gold) and Ridgeway (231 Mt at 0.4% copper and 0.83 g/t gold) are approximately 95km to the south.

Collerina EL 6336

The Collerina project consists of two tenements EL 6336 and EL 7227 which cover an area of approximately 402 sq km. The area is reached from Sydney via the Mitchell Highway and is located about 40 km south of the township of Nyngan. The tenements are located within the Fifield platinum province northwest of the laterite nickel-cobalt deposit at Syerston (80 Mt at 0.7% nickel, 0.13% cobalt) and close to the Tritton and Budgery copper gold mines and the Tottenham copper mine.

The Homeville nickel-cobalt deposit is hosted within EL 6336. The Homeville deposit was discovered by Augur Resources in 2008. This deposit has a JORC defined resource of 12.2 Mt at 0.91% nickel and 0.06% cobalt based on a cut-off of 0.7% nickel. The nickel deposit has formed from the weathering of the near surface sections of an ultramafic unit. The ultramafic unit can be readily identified in magnetic data and these data indicated that the unit is approximately 4600m in length. The current resource estimate is based on only a portion of the area covered by the ultramafic body (1300m or 28%) and therefore it is possible that the resource could be increased with further drilling.

Tullamore EL 6312

The Tullamore tenement of 46 units, 138 km˛ is centred on the small township of Tullamore and can be reached from Sydney via the Mitchell Highway to Dubbo and Parkes.

Wallaby Rocks EL 6310

The Wallaby Rocks tenement of 34 units, 102 km˛ is reached from Sydney via the Great Western Highway to Lithgow and the road to Mudgee. The tenement is within The Lue-Apple Tree Flat Area of similar age and rock type to gold producing regions at Sofala. The Bowden’s silver deposit (125 million ounces) is to the northeast of the tenement is in Early Permian Rylstone Volcanics. Of particular interest are the Late Silurian age Dungeree and Windermere (acid) Volcanics, which contain the Roberts, Princes, Coopers and Mount Margaret high grade gold deposits (37 g/t gold).

Weelah EL 6309

The Weelah tenement covers an area of 50 units, 150km˛. It can be reached from Sydney via the Mid Western Highway to West Wyalong. The Weelah tenement is situated on the Cowal Volcanics and a splay of the Gilmore Suture, a focus for gold projects in the Lachlan Fold Belt. The Cowal Gold Mine, producing 240,000 ounces of gold per annum and owned by Barrick–Placer Dome (the world’s largest gold mining Company), shares its perimeter to the south with Augur’s Weelah tenement. Further details can be found in Augur’s Prospectus.

Mine For

gold, copper, silver, nickel, cobalt

Location of operation(s)

New South Wales

Address

Level 2 66 Hunter Street
SYDNEY, NSW, AUSTRALIA

Phone

+61 (2) 9300 3310

Email

Website


Last Updated

26/04/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.