Auris Minerals Announced High-Grade Copper Hits At Forrest And Wodger Prospects

Auris Minerals Limited (ASX: AUR) is a metal and mining company based in Australia and engaged in the exploration of metals such as gold and copper from the Bryah Basin in Western Australia.

Today, Auris Minerals has announced the results received from Reverse Circulation (RC) drilling conducted at the Forrest and Wodger Prospects. Re-assaying of previously gold-focused drilling was done over the project in 2014 during which copper mineralization was discovered. RC and diamond drilling were also done during the same period to identify copper mineralization.

Previously, 5.00% Cu and 1.91g/t Au were discovered by digging a further 9.65 metres hole from the previously dug 142.4 metres and the recent drilling done over the project is the first drilling done after 4 years.

During the late last year, many RC drill holes were dug of which the results have been received for seven RC drill holes. The mineralization is interpreted to have a highly foliated Mg-rich mafic/ultramafic unit of the Narracoota Formation.

FPRC023 and FPRC024 RC holes were drilled to test the north and up-dip extensions over the earlier identified minerals intersected at 9 metres at 5.78% copper and 1.41g/t gold from 76m. The FPRC023 hole returned 4 m at 6.33 g/t gold from 16m, and 12 m at 4.26g/t gold from 36 m whereas the FPRC024 returned 4 m at 34.1g/t gold from 12 metres.

The FPRC025 hole was dug to define the geology and mineralization to the south. The southern extent of the oxide mineralization returned a significant copper and gold result with up to 2% malachite and 20% quartz veining 5 m at 1.13 g/t copper and 1.95 g/t gold from 166 m.

To test down dip, drill holes FPRC026-029 were drilled. Previously, it returned 9.65 metres at 5.00% copper and 1.91g/t gold from 142.40 metres, (FGDD001). Holes FPRC026 and FPRC028 suffered from severe drill hole deviation due to which they were unable to successfully test the targeted contact.

Drill hole FPRC027 returned 6 m at 1.26% copper and 0.36g/t gold from 202 m which are associated with malachite mineralization up to 2% and quartz veining up to 10%.

Drill hole FPRC029 returned 33 metres at 1.25% copper and 0.14g/t gold from 276 metres, including 14 metres at 1.17% copper and 0.26 g/t gold from 276 metres and 16 metres at 1.54% copper from 293 metres. Drill hole FPRC030 was abandoned well short of target depth, and no significant results returned from FPRC031.

AUR identified the scope of the mineralized system significantly expanded to the north with Down Hole EM planned for 2 of the completed holes.

Over the Wodger Prospects, it identified a further 15 metres at 3.36% copper and 1.86g/t gold from previously dug 107 metres and a further 6 metres at 2.8% copper and 1.51g/t gold from the previously dug 305 metres. It confirmed mineralizing system open to the north with a geophysical target to be drill-tested to the south. The complete scope of Wodger-Forrest tendency is yet to be assessed.

AUR has generated a return of 17.50% over the past 3 months. Post the announcement yesterday (4 February 2019), the stock closed at A$0.047 with a surge of 56.667%. Today, the stock is down by 12.77%, trading at A$0.041 (as at 12:48 PM AEST, 5 February 2019).


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