Auroch Minerals Provided Operational Highlights For Q4FY18

AOU

Auroch Minerals Limited (ASX: AOU) is an Australian gold and base-metals exploration company. The Company has three projects in the South Australian region which includes Arden and Bonaventura in the Adelaide Geosyncline and the Torrens East Copper Project, located on the highly-prospective Stuart Shelf.

On 24 January 2019, the company has provided the report on its activities during the December 2018 quarter. The company has maintained its prime focus of advancing its base-metal projects in South Australia during the reported quarter.  

The key operational highlights for the fourth quarter of 2018 includes that the maiden drilling program was completed intercepting base-metal mineralization in all ten drill-holes in the Arden project. The Ragless Range Prospect have been identified with three horizons of SEDEX zinc mineralization. This extends over a range of 3km of strike and open in every direction. Best intersections from Ragless Range includes a result of 4.96% zinc from a 12.80 meters second drilling from the previous drilling of 53.0 meters in the same location.  Another result included 0.92% zinc from 32.70 meters drilling from the previous drilling of 7.46 meters, including 2.40% zinc from 2.50 meters drill from an earlier drilling of 70.46 meters and a final 1.30% zinc from 8.50 meters drilling from a previous drill of 81.80 meters.

For the quarter of March 2019, the company has planned activity with a focus on its current collation and interpreting all the historical geological and geophysical data. This is related to the Torrens East Copper Project; however, the planning an exploration programme will start upon granting of the exploration licenses.

The geology team will work to plan the next campaign of drilling by undertaking project-and prospect- scale mapping and additional surface-sampling along the 3 SEDEX horizons intersected in 2018 drilling, at the Arden Project. This will likely be supplemented by ground geophysical surveys, beginning in key areas of focus such as the fold hinges and interpreted faults near the high-grade zinc silicate result from drill-hole RRDD007.

At the Bonaventura Project, the Company has commenced a structural study of the mineralized veins at Grainger Prospect (specifically the paragenesis) to better understand the deformational history of the prospect area and the structural controls on mineralization and will also undertake the project- and prospect-scale mapping and surface-sampling.

The company has completed the drill programme with drill-holes at the Dewrang Prospect intersecting zinc-lead mineralization coincident with a 1.5km-long geophysical IP anomaly.

Auroch made two Exploration Licence Applications, ELA00159, and ELA00163, known as the Torrens East Copper Project. The company was funded with cash reserves of circa $2.4 million as at 31 December 2018.

Now let us quickly have a look at the Auroch Minerals Limited’s stock performance and the return it has posted over the last few months. The stock last traded at a price of $0.070 with a market capitalization of $7.04 million. The stock has generated negative returns of 33.33%, 16.67% over the last six months and three months period respectively. It has a 52-week high price of $0.195 and a 52-week low of $0.060, with an average volume of 65,841 million approximately.


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