AMG – Ausmex Kick Off 2019 With Six Drill Rigs

Ausmex have kicked off 2019 with six drill rigs and a stack of high quality geologists handing the massive drill programs. After some in-depth research, it appears that the company had resurrected an area just South East of Cloncurry in an area once known in the early 1900’s as the Golden Mile. Lots of Gold nuggets were discovered in the immediate area and was known as “Specimen Hill”, because of the quantity of nuggets found at the Golden Mile. It is located just a kilometre North of the famous Mt Freda Gold Mine also owned by Ausmex and several other important mines that were all historically high grade Gold and Copper producers. In the early to mid 1980’s,have discovered that BHP had 3 large geological teams working in the immediate area of the ground owned now by Ausmex including the great and historical high grade Mt Freda Gold Mine.

“BHP was committed to finding the source of all the hundreds of small gold and copper deposits that were in the area.”

Former geologists from BHP

At one stage over 300 hundred small miners were active in the immediate area.

Seems that Ausmex have kicked a big goal by tying up this area of primarily Gold mineralisation, but with a heap of Copper too. The Company reported that the Golden Mile has 8 parallel high grade historical gold mines, over 8 klms of indicated strike length mineralisation and that the 8 historical mines reported an average production grade of production of over 45g/t Au. After looking at some recent announcements it seems they are onto something big. With six rigs going won’t take too long to start spitting out some resources.

I noted that the Company also has 7,000sq Klms of ground in the Burra Copper Gold region of South Australia and most of it located in the G2 corridor that hosts the giant Olympic Dam, Prominent HiIl and Carpenteena Copper/Gold Mines. Seems the current Federal Government has contributed over $110m to its geological unit, Geoscience Australia and AusLamp and have the University of Adelaide geological unit, doing all the work for them. Good gig if you can get away with it. Seems the Feds have donated the exploration budget to the SA Government to help find a big cashflow from a new discovery to supply them with long term royalties.

Ausmex have been spitting out some incredible high grade Gold assays and  closely with interest. They are without doubt the most active Gold explorer in NW Queensland at present.  If you don’t drill you will never find, the saying goes. Well, what can you say about  a junior with 6 drill rigs ? This what I call, “having a real crack”.  

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