Ausmex Mining Group Ltd (ASX:AMG) has unveiled maiden reverse circulation (RC) drilling results from a campaign at its Comstock gold prospect at its Golden Mile joint venture project in Queensland.
The company holds the project in an 80:20 joint venture with Washington H. Soul Pattinson and Co. Ltd’s (ASX:SOL) subsidiary Round Oak Minerals Pty Ltd.
Ausmex Mining’s results for the maiden RC drill include: 8 metres grading 6.32 g/t gold from 8 metres, including 3 metres at 15 g/t gold from 13 metres; followed by 5 metres grading 8.81 g/t from 18 metres, including 3 metres at 13.91g/t from 19 metres in the same hole.
Another 12-metre intersection at Comstock prospect graded 2 g/t gold from 21 metres, including 3 metres at 3.40 g/t from 30 metres.
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Comstock is located on the 1.5-kilometre wide and 1.8-kilometre long Golden Mile.
It is found at the site of the dormant Comstock gold mine where gold grading about 60 g/t was produced historically before the mine closed in 1939 during World War II.
Ausmex is working to produce a JORC-compliant gold-copper-cobalt resource statement for it and other gold tenements the company holds along the Mt Freda Complex.
These also include the Mt Freda Gold Mine, Drillers Hut, Canteen and Evening Star tenements.
Ausmex managing director Matt Morgan said: “The sheer scale of the Mt Freda Complex offers the potential to host a significant shallow economic mineralisation, the target of the current drilling program.
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He said Ausmex had delivered great results for its investors this month and tipped positive results would continue into the last quarter of the year.
Morgan said: “With the current and planned drilling within the Mt Freda Complex and the Trump Mining Lease, it is envisaged that additional results will continue well into the December quarter.”
Earlier this week the company reported high-grade results from its wholly-owned Trump lease near Cloncurry in north Queensland, west of Golden Mile Project, such as 153 metres grading 1.02% copper and 1.43 g/t gold from surface, including 6 metres at 32.9 g/t gold and 4 metres at 42.9 g/t gold.
The company’s securities were 0.7c, or 15.91%, up to 5.1 just before 4pm.