Gold and Base Metals explorer Auris Minerals Limited ('Auris' or 'the Company') (ASX: AUR) is pleased to announce that Westgold Resources Limited will commence RC drilling at the Forrest Deposit located 130 kilometres north of Meekatharra, in the Bryah Basin, Western Australia.
Westgold have 100% of the gold and 20% of all other mineral rights within Forrest Project tenements, E52/1659 and E52/1671.
A programme of resource definition RC drilling for 36 holes for approximately 2,640 metres has been generated and will be undertaken by Westgold to infill the previous RC and diamond drilling to a maximum drill spacing of 20m x 20m, at the Forrest Deposit. The drilling will provide the necessary drill coverage and data within the gold cap overlying the copper resource at the Forrest deposit to increase the confidence in the resource estimation. The drilling will also provide copper assays in areas where drilling has previously been assayed for gold only.
A total of three additional RC drill holes for 440 metres are planned at depth to infill the copper resources underlying the gold cap.
Auris Managing Director, Mike Hendriks, commented: 'Auris is working very close to Westgold as they work towards potential development of the gold cap overlying the Forrest copper deposit. The extra drilling and copper assaying to be undertaken will enhance our knowledge and understanding of the nature of the shallow copper mineralisation in the near surface at Forrest. Our team is in the process of finalising the data generated from our recent IP survey at Forrest and this will further refine our diamond drilling program planned for February.
Further, should Westgold proceed with mine development of the gold cap at Forrest this will expose the underlying resource which will improve the economics of any future development of the copper mineralisation.'
Forrest IP Survey Update
An IP survey at the Forrest Project was completed late in 2020. The IP survey was designed to evaluate approximately 4.5 kilometres of strike of an interpreted copper anomalous trend within the Forrest Project, encompassing both the Forrest and Wodger deposits. During July 2020, a maiden resource estimate was reported for the Forrest and Wodger deposits, which remain open along strike, down dip and down plunge, comprising a global estimate of 2.4Mt @ 1.7% Cu for 41,500t Cu. Target areas identified by the IP survey to be drill tested within Q1 2021.
Contact:
Mike Hendriks
Tel: 08 6109 4333
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.
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. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this announcement.
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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.
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