Gold in Western Australia

Ausminerals holds numerous Mining Leases, Prospecting Licences and applications in the Leonora and Laverton region of West Australia which are world class gold, cobalt and nickel mining districts. The Ausminerals Group has completed five drilling programmes in this region resulting in some very rich Gold strikes.

The company has recently completed expansion of processing facilities at its Victorian operations and will now focus on the development of the gold properties. Most of the development budget will be spent here because the company has already completed 5 drilling programs which intersected very high gold values. Drilling will now properly delineate the ore bodies to JORC code reserves with a view to rapidly bringing them into production.

The area is bounded by the Gold Hill mining lease which has previously reported a resource of 600,000 tons @ approximately 2.1 g/t au and where previous exploration has also outlined Nine (9) distinct ore bodies with reported gold grades from previous drilling from the different ore bodies of:-

• 2 metres @ 15.5 g/t,
• 1 metre @ 68 g/t,
• 1 metre @ 59 g/t,
• 8 metres @ 3.3 g/t,
• 2 metres @ 19.7 g/t,
• 15 metres @ 4.8 g/t and
• 12 metres @ 9.7 g/t.
  

The above ore bodies are in relatively close proximity to each other (within 2 kilometres).