Austin Metals Limited ('Austin Metals', 'the Company') announced mobilisation of aircore drilling at the Shadow target areas. The aircore drilling program will comprise a total of 1,500 - 2,000m of drilling and is expected to be completed by the end of March. As announced on 14 March 2022, the gravity survey is now complete and now
effectively covers the main prospective greenstone belt adjoining Musgrave Minerals and Caprice Resources over a very large area of 15km by 5km. Both neighboring companies are enjoying considerable recent success very close to the Austin Metals border including further high grades on the Mosaic Lode and discovery of a 1km long gold anomaly at Solis. Review of the newly processed gravity images and geochemistry has highlighted 5 exciting high priority undrilled targets that occur on prominent "gravity break" structures which may be indicative of alteration and veining associated with gold mineralisation. Structures in the Shadow area are primarily oriented northwest that is very similar in orientation to many deposit structures including Starlight and White Heat. The Mt Sandy area is dominated by north-trending structures that may be the source for extensive alluvial workings in the area. The top 5 priority targets are on existing POW permits so the Company has now commenced a 1,500-2,000m aircore drilling program to conduct a first pass phase to test these 5 targets. A multitude of other structures and targets have been identified that will now require
reconnaissance field work to refine these targets and also to submit new POW's for a second round of aircore drill testing in the coming months.