Announcement Date: 2022-08-02
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Austral Resources Australia Ltd.
Project name: Lady Annie
Location: Australia
Commodities: Copper
Highlight: Drilling results incl. 14m @ 2.23% Cu from 122m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Copper producer Austral Resources Australia Ltd (ASX:AR1) (“Austral” or the “Company”) is pleased to announce the drilling results from the Flying Horse diamond drilling program. Flying Horse (FH) is located on an existing Mining Lease (ML5447) and contains a JORC Mineral Resource Estimate of 14.2MT at 0.77% Cu – see Table 1 below (1) . The quoted resource was calculated in 2013 by the previous mine owner. As previously announced2 , Austral Resources completed a 3-hole diamond drilling program for a total of 712m at Flying Horse to provide fresh ore samples for a metallurgical test work programme (Figure 1 & Figure 2). This program evaluates the suitability of Mt Kelly sulphide (chalcopyrite) mineralisation for an emerging sulphide heap leach SX-EW technology. If the evaluation is positive, there is exciting potential for Austral to have an additional processing solution relative to conventional flotation for its sulphide resource base of 26.5Mt@ 0.8% Cu. Austral Resources has completed drilling a total of 3 diamond drill holes for 712m at Flying Horse. A plan view of collar locations and the current Flying Horse open pit topography is displayed in Figure 3, with sections along the lines of each drillhole displayed in Figures 4, 5 & 6. Drillhole design details are listed in Table 1.
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