AusAmerican assays improve Moubri copper hits

THE DRILL SERGEANT: AusAmerican Mining (ASX: AIW) has received the first drill core assay results from the Moubiri mine, which is part of the company’s due diligence program in regards to the acquisition of 77.58 per cent of Shenglong Investment International Ltd.

Shenglong has previously drilled 14 diamond core holes during 2013, of which two intercepted the Moubiri production ore body.

AusAmerican explained that as part of its due diligence program the company has logged the drill holes, supervised analyses by handheld XRF and the cutting/sampling of the drill core.

The drill core was assayed by Acme La boratories (Vancouver) by 4 acid digest with an ICP finish and has consistently returned higher copper grades than originally published, including:

Main DSO mineralised zone (ZK130401) increased width and grade:

8.55 metres (down hole) at 11.9 per cent copper, 29.6 per cent lead, 19.4 per cent zinc and 159.2g/t silver.

Significant increase in copper grade in the sandstone unit:

17m at 5.1 per cent copper (XRF result) increased to 16.7m at 11 per cent copper (assay result);

9.4m at 3.8 per cent copper (XRF result) increased to 9.5m at 6.2 per cent copper (assay result); and

12.4m at 5.6 per cent copper (XRF result) increased to 15.7m at 9 per cent copper (assay result).

“The results again give significant credibility to the company’s short term business plan in increasing production at Moubiri over the next six months to 200 to 250 tonnes per day with all key due diligence results to date confirming the company’s current production model,” AusAmerican mining said in its ASX announcement.

 

Website: www.ausamerican.com