| 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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