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Augur Resources: Wonogiri Bulk Tonnage Opportunity Builds With 118m At 0.98g/t Gold Equivalent

Augur Resources' (ASX: AUK) Randu Kuning porphyry prospect, part of the Wonogiri gold-copper project in Indonesia, continues to reveal the extent of mineralisation, delivering wide intersections of up to 118 metres at 0.98 grams per tonne (g/t) gold equivalent from 245 metres.

Drilling at Randu Kuning is indicating a significant gold and copper porphyry system with potential additional mineralisation at depth and to both the north and south.

Intersections from one hole indicate gold mineralisation from surface to more than 300 metres deep on the eastern side of the Randu Kuning deposit.

Additional anomalous gold zones were detected at over 450 metres below surface.

The first of a series of diamond holes testing for deep gold and copper mineralisation at the Randu Kuning porphyry prospect also intersected 67 metres at 1g/t gold equivalent from 171 metres.

While shallow gold mineralisation on the eastern margin of Randu Kuning porphyry intersected 1 metre at 5.11g/t gold from 48 metres, 4 metres at 0.98g/t from 112 metres, and 1 metre at 1.3g/t gold and 6.6g/t silver from 124 metres.

Regional epithermal targets also returned encouraging results, including 6 metres at 1.05g/t gold from 261 metres, 5 metres at 0.41g/t from 140 metres and 4 metres at 0.67g/t gold from 36.5 metres.

The focus of current known mineralisation is within a 1,300 metre corridor of magnetic anomalies and coincident gold-copper-silver rock, soil and trench anomalies.

Comment

The Wonogiri project, which covers an area of 3,928 hectares, has become the flagship project of the company.

The large scale potential is evident given the drill results to date and the structural zone similarities to significant porphyry deposits.

Underpinning the bulk tonnage potential is the mineralisation at Randu Kuning which has been identified from surface and remains open at depth.

In addition, the porphyry mineralisation remains open to the north and to the west.

The project lies within the Sunda‐Banda arc, an area considered prospective for epithermal gold and porphyry copper‐gold mineralisation.

A number of significant porphyry deposits sit along this zone including Newmont Mining Corporation's 914 million tonne at 0.53% copper and 0.4g/t gold Batu Hijau mine and Intrepid Mines' (ASX: IAU) 1.7 billion tonne at 0.41% copper and 0.46g/t gold Tujuh Bukit deposit in eastern Java.