The Golden Mile

The Golden Mile

The Company commenced of a Joint Venture with Exco Resources (QLD) Pty Ltd, (100% subsidiary of Washington H. Soul Pattinson) on the two recently acquired sub blocks CLON825P & CLON825U from within EPM15923 .

Figure 1. “GOLDEN MILE PROJECT” JV: 80% Ausmex 20% Exco Resources (QLD) Pty Ltd within sub blocks CLON825P & CLON825U. Historical Exploration High Grade Gold rock chip assay results: BHP, Mt Isa Mines, Devex, ARC, Kingsgate Mining.

Ausmex acquired an 80% beneficial interest in the two highly prospective sub blocks that contain a suite of historical high-grade underground mines. Previous field investigations by BHP, MIM, Kingsgate Resources and other explorers have returned multiple high-grade gold rock chip assay results including rock chip assays of > 70 g/t gold produced by MIM in 1976 from the Comstock Lode.

Eight north-south striking historical high-grade gold mines have been identified within an area ~ 1.5 km wide x 1.8 km, that have remained dormant since 1939 and the commencement of the second world war.

The two sub blocks are strategically located adjacent to the current Mt Freda Mining Lease and EPM14163, both controlled by Ausmex.

Summary of “Gold Mile Project” Historic Mines

 # (Note Production figures only up to 1939)

  • The Comstock: Average Grade of Gold produced: 00 g/t Au (~ 2 ounces tonne)           
  • The Falcon: (formerly called Rose and Thistle): Average Grade recorded: 70 g/t Au (~ 1.4 ounces per tonne)
  • Shamrock Reef (Open Cut & Underground): (up to 25% Tungsten) 90.00 g/t Au (~ 3 ounces/tonne)
  • The Jewel Gold/Cobalt: Government Reports indicate 3 vertical shafts containing Gold and Cobalt
  • Little Iron Duke Gold Mine: Consists of two vertical shafts and workings along strike with sampling historically be Kingsgate Resources who assayed across a portion of the western face of the shaft. Average grade: 5 m @ 9.35 g/t Au
  • Iron Duke Mine: Visually the lode system is up to 10m wide, comprised jasper, quartz, ferruginous quartz with malachite staining. Surface sampling by others reported grade of 4 g/t Au and 2.55 % Cu across the lode.  There is a visual strike length of workings of over 600 m, which appear to be in line with the Little Iron Duke which consists of the same rock type as the Iron Duke.
  • The Weatherly Mine: Historical records show two owners and two shafts, with one mining in a vertical shaft and drive, recording ~ 56 g/t (2 ounces per tonne) Gold with the other earlier owners recording 7 g/t Au and 19 % Cu.