Australia

Ausmex Mining seeks joint venture partners for gold assets at Burra

Ausmex Mining Group Ltd (ASX:AMG) is an Australian-focused explorer and developer with a portfolio of prospective assets in the Cloncurry mining district in Queensland and also in South Australia.

The company is focused on bringing its lead asset, the Mt Freda Gold Project in Queensland, into production in 2020 and also on advancing its Burra IOCG (iron oxide copper gold) Project in South Australia.

Given its focus on its two core projects, Ausmex is seeking joint venture and/or farm-in partners to work with the company to advance its highly prospective gold assets at Burra.

Adelaide Geosyncline

Ausmex controls about 7,500 square kilometres of prospective tenure in the Adelaide Geosyncline in and around Burra, South Australia.

It is worth noting that the Adelaide Geosyncline accounted for about 70% of South Australias total gold production prior to the commencement of Olympic Dam Mine in 1988.

The companys key prospects in the region include Mongolata Goldfields, Princess Royal, Black Hills and Ulooloo goldfields.

Mongolata Goldfields

The Mongolata Goldfield was discovered in 1930 and produced 11,127 ounces of gold from 7,684 tonnes treated (recovery grade average 45 g/t). Gold production was not stopped due to lack of ore.

Gold mineralisation at Mongolata extends over a strike length of about 12 kilometres with hiRead More – Source