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Augustus Minerals Limited ( (AU:AUG) ) has provided an update.
Augustus Minerals will begin a maiden Reverse Circulation drilling program at its Music Well project near Leonora in Western Australia, targeting the undrilled Clifton East prospect. The initial campaign will comprise 11 angled holes to 100 metres depth, designed to test outcropping quartz veins within a large gold-in-soil anomaly defined by high-grade rock chip samples.
Historic and recent sampling at Clifton East has outlined about 950 metres of mineralised strike, with multiple assays above 20 grams per tonne gold suggesting potential for a significant discovery. Drilling is expected to be completed within a week, with assays due in early to mid-April, marking a key step in advancing one of the region’s largest unexplored tenement packages in a district hosting several major gold operations.
The most recent analyst rating on (AU:AUG) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Augustus Minerals Limited stock, see the AU:AUG Stock Forecast page.
More about Augustus Minerals Limited
Augustus Minerals Limited is an Australian exploration company focused on gold projects in Western Australia, particularly within the highly endowed Leonora/Laverton Greenstone Belt. Its flagship Music Well Gold Project spans twelve exploration licences over 1,242 square kilometres north of Leonora, adjacent to several major operating gold mines and established regional producers.
Average Trading Volume: 352,681
Technical Sentiment Signal: Hold
For a thorough assessment of AUG stock, go to TipRanks’ Stock Analysis page.