Augur Resources receives encouraging drill results

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THE DRILL SERGEANT: New South Wales-based resource development company Augur Resources has received further diamond drill hole results from the Randu Kuning prospect, located on the company’s Wonogiri project in Central Java.

The Wonogiri project is located approximately 30 kilometres to the south of the provincial city of Solo in central Java and lies within the Sunda-Banda arc covering an area of 3,928 hectares.

Augur considers this area to be prospective for epithermal gold and porphyry copper-gold mineralisation.

Augur completed recent drilling approximately 61 metres west of a previously reported drill hole within the Randu Kuning prospect, which contained a number of mineralised zones including:

– 60.0 metres at 0.85 grams per tonne gold and 0.30% copper from 53.5 metres; and

– 17.0 metres at 0.56 g/t gold and 0.14% copper from 160.5 metres depth.

According to Augur Resources’ announcement to the Australian Securities exchange the latest hole intersected a very broad zone of anomalous gold +/- copper from 83.5m depth.

This included including zones of:

– 86.0m at 0.85 g/t gold and 0.20% copper; and

– 46.1m at 0.78 g/t gold and 0.17% copper.

These were based on a cut off of 0.3 Grams per tonne gold or 0.3% copper with a maximum 2.0m of internal dilution.

Using no cut off the mineralised zone returned 222.1m at 0.57 g/t gold and 0.15% copper and potential remains for further mineralisation below this depth.

Augur said the mineralised zone in the most recent hole is consistent with that identified in the previously reported hole, which intersected a mineralised zone of 215.0m at 0.48 g/t gold and 0.17% copper from surface, with no cut off used.

The company is confident these results confirm the consistency of the main gold mineralisation within the porphyry system as both holes have ended in mineralisation.

Augur now has a second drill rig working on site with drilling along strike underway.

The company has begun preparations for a third rig to test the shallow epithermal targets in the Wonogiri North area.

Preliminary metallurgical testing has commenced on the porphyry mineralisation at Randu Kuning.