Augustus Minerals Unveils High-Grade Gold Discoveries in Australian Projects

Augustus Minerals Uncovers High-Grade Gold at Music Well

Augustus Minerals Ltd (ASX: AUG) has announced promising results from its recent rock chip sampling program at the Music Well gold project near Leonora, Western Australia, with assays revealing multiple high-grade gold occurrences across several prospects.

New High-Grade Gold Discoveries Expand Project Potential

Rock chip sampling conducted in February 2025 has returned exceptional gold grades at the Clifton East prospect, including 21.3 g/t gold, 6.54 g/t gold, and 5.68 g/t gold. These results build upon previous high-grade samples collected by Augustus, which included 50.3 g/t and 9.73 g/t gold, confirming the significant gold potential of the area.

The sampling program has substantially expanded the Clifton East prospect, transforming it from an isolated gold vein discovery into a substantial target with high-grade gold exposed across a 700m by 250m zone. The mineralisation occurs in multiple structures, including:

• Crystalline quartz veins with trace to 1% pyrite
• Stockwork mineralisation
• Cross-cutting veins
• Epithermal-style silica veins

Importantly, the identification of stockwork to disseminated gold mineralisation within granite bedrock indicates potential for a significant mineralised gold system at Clifton East.

New Prospect Discovered: St Pat's North Shows Promise

The February field program also identified a new prospect called St Pat's North, located 1.4km north of the existing St Patrick's Well prospect. This new discovery revealed gold mineralisation over a 400m strike length, with samples returning values including 2.7 g/t gold and 1.77 g/t gold.

St Pat's North is situated on a major mineralised trend extending from Northern Star's Wonder Mine, 13km to the west-northwest, passing through the Teutonic East Prospect. The prospect is coincident with the eastern end of a 2km long east-west zone of gold anomalism defined from historic RAB drilling.

Additional Prospects Enhance Regional Potential

Other significant findings from the February sampling include:

• Dodd's Prospect: Located 2km southeast of Clifton East, a sample of vein quartz returned 15.1 g/t gold, highlighting the potential of this previously unrecognised area.

• Rainbow Prospect: Sampling revealed anomalous gold with high-grade silver (up to 78 g/t Ag) along with elevated bismuth and tellurium values, suggesting a potentially significant mineralised system.

Understanding Intrusion-Related Gold Systems

The gold mineralisation at Music Well, particularly at Clifton East, shows characteristics consistent with intrusion-related gold systems (IRGS). These systems typically form when gold-bearing fluids associated with cooling magmas migrate through fractures in and around intrusive bodies.

Intrusion-related gold systems are significant because they can host large, economic gold deposits. At Music Well, the Au-Ag-Mo-Te-Bi-W association identified in the mineralisation is a classic geochemical signature indicating an intrusive fluid source, which supports the IRGS model.

The presence of overprinting sericite-silica breccia and Carlin-type gold deposits suggests multiple mineralising events, potentially enhancing the gold endowment in the area.

Strategic Position in Gold-Rich Terrane

Music Well comprises ten exploration licenses covering a substantial area of 1,345km², making it one of the largest exploration packages in the Leonora-Laverton region. The project is strategically positioned within a district with outstanding gold endowment of over 28 million ounces.

The project benefits from proximity to several operating gold mines:

• Darlot Gold Mine (~12km north)
• King of the Hills Mine (~20km west)
• Leonora Gold Camp (~30km southwest)
• Thunderbox Gold Mine (~20km west)

Recent mapping and sampling have highlighted the importance of west-northwest and east-northeast regional structures that pass through the Music Well Project, linking the Leonora-King of the Hills-Thunderbox greenstone belts to the eastern Mertondale-Mt Redcliffe belt.

Planned Exploration Activities

Augustus Minerals Ltd has outlined its next steps for the Music Well project:

• Continued geological mapping and sampling over SensOre targets and expanding existing prospects
• Planning AC/RC drilling programs for the Clifton East and St Patrick's Well prospects
• Further exploration of regional targets, both existing and new
• Follow-up of the recent artificial intelligence/machine learning (AI) enhanced targeting study

Why Investors Should Track Augustus Minerals Ltd Gold Discoveries

Augustus Minerals Ltd presents a compelling investment opportunity for several key reasons:

1. High-Grade Gold Potential: The consistent high-grade gold results from surface sampling (up to 50.3 g/t gold) suggest significant mineralisation potential at depth.

2. Expanding Footprint: The company continues to identify new gold prospects across its substantial 1,345km² land package, demonstrating the regional-scale potential of the project.

3. Strategic Location: The project is situated in the highly prospective Leonora-Laverton Greenstone Belt, surrounded by multi-million-ounce gold deposits and operating mines.

4. Multiple Mineralisation Styles: The presence of various gold mineralisation styles (veins, stockwork, breccias) increases the probability of discovering economic gold resources.

5. Systematic Exploration Approach: Augustus is employing advanced exploration methods, including AI-enhanced targeting, to maximise discovery potential.

As Augustus Minerals Ltd advances toward drilling at its most promising targets, investors have an opportunity to participate in the potential value creation of a new gold discovery in one of Australia's premier gold provinces. Furthermore, understanding the broader mining sector dynamics will help investors contextualise these Augustus Minerals Ltd gold discoveries within the larger resource industry landscape.

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