ASX and MEDIA RELEASE
15 November 2007
Augur
commences drilling
Diversified
minerals explorer Augur Resources Limited (ASX:AUK) today commenced the next
phase of drilling on its Collerina project in the prospective Lachlan Fold Belt
in NSW, where it is testing nickel, cobalt and copper potential.
The Company,
which listed on the ASX last month, has an Aircore
drill rig on site at its Collerina Project aiming to further extend and define
the mineralisation to a JORC compliant resource status.
Augur has
two contracts with Cobar-based Every Day Mine Services Ltd (ASX:EDS) for up to 10,000 metres of
drilling. At Collerina project Augur contracted 3,000 metres starting
late this week. At Yeoval project Augur contracted 7,000 metres starting
by early December with the option of extending this by a further 3,000 metres.
The first
phase of the program at Collerina includes an initial 2800m of 57 vertical
holes, 40 to 80m depth, and two 150m NQ diamond drill holes on the main zone of
laterite. First results from the programme are expected before year end.
Augur
Managing Director Joshua Rogers said the Company had hit the ground running
following its ASX listing, and had an aggressive drilling program in place to
quickly develop its portfolio of projects.
“At
Collerina we have a 20km ultramafic belt within the Exploration Licence area
that holds significant nickel and cobalt potential,” Mr Rogers said.
“We
plan to systematically drill the entire 20 km strike extent of ultramafics lateritic
nickel and to check for sulphide nickel at depth,” Mr Rogers said.
Collerina is
located within the Fifield platinum province. It lies NW of the Syerston
Deposit (80 Mt 0.7% nickel, 0.13% cobalt, platinum) and is close to Tritton,
Budgery (gold-copper mines) and Tottenham (copper mine).
Previous
drilling at Collerina has given the following:
- Gwinear (south of Yathella)
1.3% nickel, 0.7% cobalt over 30 metre strike.
- Yathella: 181 holes (1198m),
plus further 15 percussion holes (301m) 795,000 tonnes of nickel laterite
grading 0.7% nickel, 0.16% cobalt were estimated as target mineralisation.
Previous
drilling by Augur at Collerina has given the following:
TT2 anomaly
8-36m
ie 28m x 1.05% nickel, PGM’S
24-32m
ie 8m x 2.0 % nickel, 0.2 % Co, PGM’S
Drilling
during November will test the northern extension of the TT2 anomaly trend, and
the main zone of laterite at Yathella on the TT1 anomaly trend.
Augur has a
second 7000 meter
drill program planned for mid-December, which is designed to define a JORC
compliant resource at the Company’s copper-gold-molybdenum Yeoval
project.
For further information, please contact:
Peter Bradfield -
Chairman
Warrick
Hazeldine
Mob: 0419 221
766
Purple
Communications
Tel: +61 (0) 2 9267
8333
Tel: +61
(0)8 9485 1254
Mob: 0417 944 616
Marcelo Mora -
Company Secretary
Tel: +61 (0) 2 9267 8333
Augur’s projects
About Augur
Augur is a
NSW-based resource development company, with a focus on gold, copper and nickel
projects within the Lachlan Fold Belt in western NSW. The region is a known
producing area, especially for gold and copper, zinc.
Augur is
drilling to define known mineralisation to JORC compliance resource status.
The Company
has a highly experienced Board and Management team, with includes extensive
experience in NSW and porphyry copper-gold exploration.
For more
information, please visit www.augur.com.au
Peter Bradfield
Chairman
15 November 2007
The
information in this report that relates to Exploration Results, Mineral
Resources or Ore
Reserves is based on information compiled by Robert Pyper, who is Fellow of the
Australasian Institute of Mining and Metallurgy. R. Pyper has sufficient
experience which is relevant to the style of mineralisation and type of deposit
under consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined in the 2004 Edition of the ‘Australasian Code
for Reporting of Exploration Results, Mineral Resources and Ore
Reserves.’ R Pyper consents to the inclusion in the report of the matters
based on his information in the form and context in which it appears.
Issued
by
Purple
Communications
Level
3, 28 Kings Park Road, WEST
PERTH WA 6005
Ph:
08 9485 1254 Fax: 08 6263 0455
purple@purplecom.com.au