Stocktube video
02/06/2011

John Lawton at Auzex Resources believes there’s a 30-40% undervaluation

View full size
Additional Information
Market: ASX
Sector: General Mining - Gold
EPIC: AZX
Latest Price: A$0.28  (0,00%)
52-week High: A$0.64
52-week Low: A$0.17
Market Cap: A$39.33M
1 year chart
1 day chart
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Auzex Resources
www.auzex.com

Auzex Resources (ASX:AZX) major project is the 50%-owned Bullabulling gold project, located 65km from Kalgoorlie in Western Australia. The project area has a proven history of discovery and new exploration techniques are leading to new discoveries.

Pdf

Auzex Resources kicks off drilling at Bullabulling JV Gold Project

24th Jun 2010, 9:12 am

Auzex Resources (ASX: AZX) has commenced a diamond drilling program at the Bullabulling Gold Project in Western Australia to intersect known mineralisation over a 2.5km portion of the Bullabulling Trend between the Bacchus and Phoenix pits.

Bullabulling, in the Yilgarn Craton gold province, has an established resource of 9.3M tonnes at 1.4g/t gold for 431,600ozs.

Drilling at Bacchus previously intersected gold mineralisation with intercepts of 7m @ 77g/t Au, 5m @ 14g/t Au, 4m @ 5.08g/t Au, 3m @ 4.43g/t Au, and 3m @ 9.16g/t Au beneath the existing Bacchus Pit.

The company said this mineralisation remains unmined and is not included in the current JORC resource estimate.

Seven drillholes are planned totalling 1,432m and will provide detailed structural information related to grade and "allow detailed geological data to be collected from the hanging wall through to the footwall of the Bullabulling shear zone, which is approximately 500m wide."

John Lawton, managing director, said all drillholes have the potential to not only intersect critical geology but also significant mineralisation that is not included in the current resources.

The first assays from the first hole, after core cutting and logging, are expected to be available in two to three weeks time.

Bullabulling is a 50:50 joint venture with Central China Goldfields (AIM: GGG). CCG paid a $500k option fee plus $2.5M for a 50% stake.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.