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Ausmex Mining Group identifies IOCG target through 3D geophysics modelling in South Australia’s Burra region

Published: 04:55 07 Aug 2019 BST

Ausmex Mining Group Ltd - Ausmex Mining Group identifies IOCG target through 3D geophysics modelling in South Australia’s Burra region
IOCG target “A” has several kilometres of strike length and extends from near surface to a depth of about 1.7 kilometres

Ausmex Mining Group Ltd (ASX:AMG) has identified an iron-oxide-copper-gold (IOCG) target in the underexplored Burra region of South Australia.

Recent 3D geophysics modelling of magnetotelluric (MT) and AMT results identified the formerly unknown shallow conductive structure, IOCG target “A”, by incorporating regional magnetics and gravity.

Target “A” is 2 kilometres west of the historic Princess Royal copper-gold workings and site of early copper production dating back to the 1840s with historic grades up to 27% copper.

This structure is at the top of a MT-conductive “plume” which appears from the modelling to also feed the historic Princess Royal deposit.

READ: Ausmex Mining’s resource drilling defines additional high-grade gold at Mt Freda Complex

The latest modelling indicates that target “A” is more conductive than the known historic Princess Royal deposit, potentially reflecting extensive primary sulphide mineralisation.

Ausmex managing director Matt Morgan said: “Target ‘A’ is the first of what we anticipate may be a number of similar targets.

“This modelling, using data from our initial 10 kilometres then 5 kilometres and subsequent 1-kilometre closer spaced AMT surveys, significantly advances our understanding of our several conductive anomalies and consequently the targeting of proposed drilling.”

Geoscience Australia and the geological survey of South Australia’s AusLAMP MT program identified deep conductivity structures below Burra, which link Burra with what appear to be similar structures below the Curnamona province.

READ: Ausmex Mining continues to advance along Golden Mile at Mt Freda

The infill gravity survey over target “A” is scheduled to begin late August and be completed early September with the aim of confirming near-surface drill ready targets.

This discovery of a new shallow conductive structure confirms the validity of AMG’s approach of using MT and AMT to identify plumes and conductive structures.

The company’s 3D modelling will be further refined to assist with targeting of Ausmex’s initial drilling planned for Q4, 2019.

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