Trump hasn’t been good news for many across the word, but it just might be for North West Queensland, even if it has nothing to do with the controversial American president.
Explorer Ausmex Mining Group has published an updated set of drilling results from its prospective copper leases in the region and the standout standout highlight of the batch batch is a 60 metre at 1.3% copper sample and 54 metres at 1.0% copper sample – both collected from the surface at its prospect it calls “The Trump”
The Trump mining lease is a historical high‐grade copper mine 50km south of Cloncurry. Historical records indicate the average production grade of the mine was 38.5% copper during past production.
It’s the third consecutive time Ausmex has published successful copper exploration results with previous high-grade samples having been reported from its two equally colourfully named mining leases located nearby, “The Answer” and “The Joker”
Ausmex told the Australian Stock Exchange that a sixteen‐hole scout RC drilling program was completed late December 2017, with five of the total sixteen RC holes now validated and interpreted with the rest due in the coming days.
The news comes just months after Ausmex agreed a joint venture with Queensland Mining Corporation to explore and mine near Cloncurry.
In June 2017 the companies told the ASX Ausmex had successfully completed sale under the Cloncurry Option agreement, giving them 80 percent of the JV with QMC in exploring permits, mining licences and a processing plant.
The announcement followed up on the deal announced May 10 where Ausmex would acquire a 60 percent stake in the JV in production assets including Gilded Rose and Mt Freda gold projects south-east of Cloncurry and would later increase it to 80 percent with a further $1 million payment.
Ausmex has a suite of high-grade gold projects including The Gilded Rose and Mt Freda projects which are currently undergoing resource drilling and upgrades. Furthermore, Mt Freda has the potential to produce cobalt.
Ausmex are now hailing the “hat trick” of good results from the three standalone high‐grade copper projects at “The Trump”, “The Joker” and “The Answer”.