Austin (ASX:AYT) samples eye-opening copper-gold in the Pilbara

Austin (ASX:AYT) samples eye-opening copper-gold in the Pilbara

March 1, 2024 Off By Jack Baker

Austin Metals’ has yielded high-grading returns of copper and gold during rock chip sampling while identifying two new prospects and a fresh mineralised zone at the Donnelly’s prospect at its new pick-up the Ashburton copper-gold project in Western Australia’s Pilbara region.

The Perth-based explorer deemed the returns of 9.7 grams per tonne gold and 8.6 per cent copper, 4.0g/t Au and 7.3% Cu, and 70.1% lead and 198g/t silver as “spectacular.”

Austin Metals‘ bedazzling results in the North West chase on the heels of early trenching at the December 2023 acquisition which produced similarly enticing results.

The latest samples produced the Galena Gully and Mavericks prospects and another mineralised zone to add to the 1.2 kilometres of outcropping copper-gold already identified at Donnelly’s.

Mineralisation at all the prospects remain open, and Austin now has 18 kilometres of potential strike identified and ready to explore.

Analysis has suggested Ashburton is highly prospective for both orogenic gold and sediment hosted base metal mineralisation, and Austin is now preparing a trenching and drilling campaign to test the extensive mineralisation.

While Ashburton appears to be the company’s focus, work at its namesake Austin Gold Project is continuing to investigate multiple prospects directly to the east of a $210 million takeover.

Austin describes the namesake asset near Ramelius Resources (ASX:RMS) snap-up Musgrave Minerals (previously ASX:MGV) and Caprice Resources (ASX:CRS) as a ‘strategic location.’

Fertile territory

The Murchison region has loomed as another Leonora in a mid-tier miner battle for the best territory in Australia’s premium gold districts, and Ramelius Resources snapped up Musgrave Metals and its Cue Gold Project to develop a high-grade satellite mine for its Mt Magnet production centre.

Austin Metals rightfully plans to probe each of its prospects close to Cue, with particular attention paid to the border of Ramelius’ new territory – while also tracing high-grade mineralisation along strike towards Westgold Resources’ Tuckabianna Mine.

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