Western Australian Gold and Base Metals explorer Auris Minerals Limited ('Auris' or 'the Company') (ASX: AUR) is pleased to announce a maiden Mineral Resource estimate reported in compliance with JORC (2012), for its Forrest Project, located 130 kilometres north of Meekatharra, in the Bryah Basin, Western Australia.
The Forrest Project includes tenements E52/1659 and E52/1671, which fall under an agreement with Westgold Resources Limited ('WGX') whereby WGX own all gold rights and a 20% free carried interest until a decision to mine for all copper rights.
Resource Estimation
A Mineral Resource estimate has been undertaken on the Forrest and Wodger prospects within the Forrest Project. The estimation was completed by Ashmore Advisory Pty Ltd based on data and geological interpretations provided by Auris. A total Inferred Resource of 2.4 Mt @ 1.7% Cu and 0.44g/t Au for 41,500 t Cu and 34,300 oz Au has been estimated for both deposits and reported above a nominal 1.0% Cu cut-off grade.
Auris Chief Operating Officer, Mike Hendriks said: 'We are delighted to provide the maiden copper resource to the market for the Forrest and Wodger prospects within the Forrest Project. The resource estimates provide a solid initial base to undertake further drilling, to infill and explore outside the resource area, given that both deposits are open along strike, down-dip and down-plunge. With a copper price, currently around AUD $8,700/tonne, the economic viability of the Forrest Project is looking extremely attractive.'
Wodger
A total of 37 RC and diamond drill holes have been used in the resource estimation for the Wodger Prospect. The mineralisation at Wodger has been constrained by 8 wireframe domains which have a total strike extent of 500m and a maximum vertical depth of 430m.
Forrest
A total of 63 RC and diamond drill holes have been used in the resource estimation for the Forrest Prospect. The mineralisation at Forrest has been constrained by 10 wireframe domains which have a total strike extent of 500m and a maximum vertical depth of 430m.
Contact:
Mike Hendriks
Tel: 08 6109 4333
Forward Looking Statements
This announcement has been prepared by Auris Minerals Limited. This document contains background information about Auris Minerals Limited and its related entities current at the date of this announcement. This is in summary form and does not purport to be all inclusive or complete. Recipientsshould conduct their own investigations and perform their own analysisin order to satisfy themselves asto the accuracy and completeness of the information, statements and opinions contained in this announcement. This announcement is for information purposes only.
This announcement may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction. This document does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this representation are not intended to represent recommendations of particular investments to particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.
No responsibility for any errors or omissions from this document arising out of negligence or otherwise is accepted. This document does include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Auris Minerals Limited. Actual values, results, outcomes or events may be materially different to those expressed or implied in this announcement. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements. Any forward-looking statements in this announcement speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and ASX Listing Rules, Auris Minerals Limited does not undertake any obligation to update or revise any information or any of the forward-looking statements in this document or any changes in events, conditions or circumstances on which any such forward-looking statement is based.
ABOUT AURIS MINERALS LIMITED
Auris is exploring for base metals and gold in the Bryah Basin of Western Australia. Auris has consolidated a tenement portfolio of 1,410km-2, which is divided into eight well-defined project areas: Forrest, Cashman, Cheroona, Doolgunna, Morck Well, Feather Cap, Milgun and Horseshoe Well.
In February 2018, Auris entered a Farm-in Agreement with Sandfire in relation to the Morck Well and Doolgunna Projects which covers 430km-2 (the Morck Well JV). During September 2019, Auris entered into a Farm-in with Sandfire in relation to the Cashman Project tenements, E51/1053 and E51/1120, (the Cashman JV). On 4 February 2020 Auris and Northern Star Resources Limited (NST) entered into a Farm-in with Sandfire in relation to the Cheroona Project tenements, E51/1391, E51/1837 and E51/1838, (the Cheroona JV). Sandfire has the right to earn a 70% interest in each of above projects upon completion of a Feasibility Study on a discovery of not less than 50,000t contained copper (or metal equivalent) on the project. Auris manages exploration on all other tenements, including those that are subject to arrangements with third parties.
AURIS MINERALS LIMITED 