Augustus locks onto multiple gold zones near Leonora in WA

Augustus Minerals has defined at least two higher-grade gold shoots at its Music Well project in Western Australia’s prolific Leonora-Laverton gold district, with both remaining open along strike. The interpretation comes from a combination of recent diamond and reverse circulation (RC) drilling, assays and soil sampling.

Augustus says its geological detective work has stitched together data from drilling and surface geochemistry to outline a western shoot defined by soil samples over 400 metres of strike and an eastern zone defined by pathfinder geochemistry over 300m. Both are open to the north-northeast at the company’s Clifton East prospect.

The interpretation links together a string of solid, earlier RC drill hits, including 11m at 2.41 grams per tonne (g/t) gold from 32m, 8m at 3.27g/t gold from 72m and 34m at 0.83g/t gold from 38m.

Pathfinder elements in soil samples, including tellurium, bismuth, molybdenum and tungsten, have helped trace the orientation of the mineralised structures.

A recent diamond drill hole put in by Augustus appears to have provided the final piece of the puzzle. While assays from the hole returned only lower-grade gold anomalism, including 6m at 0.31g/t gold from 79m, 5m at 0.43g/t gold from 106m and 12m at 0.22g/t gold from 117m, management believes the results are significant.

According to Augustus, the core revealed tell-tale alteration from hematite to silica-sericite-pyrite-carbonate, which strengthened closer to the gold-bearing part of the system, suggesting the hole may have passed along the edge of a bigger mineralised zone.

Crucially, structural measurements from the diamond core indicate that the higher-grade quartz-pyrite (iron sulphide) veins dip steeply to the southeast, providing a clear target for follow-up drilling.

Armed with this new structural understanding, the company drilled a series of northwest-oriented RC holes to test for higher-density veining between the original drill holes. Assays from that program are pending and expected in mid to late October.

In addition to the two defined shoots, the company has its eye on a third target, a 200-metre-long zone of anomalous rock chip and soil pathfinder results. With rock chips grading up to 1.8g/t gold, the anomalism coincides with a major fault in the east of the Clifton East prospect. The company says this area has not yet been drill tested.

Augustus Minerals general manager exploration Andrew Ford said: “Integration of surface geochemistry, RC and Diamond drilling data has outlined two higher-grade shoots within the broader alteration system that are open to the north-northeast."

The company’s Music Well project covers a commanding 1242 square kilometres of exploration tenure just 35km north of Leonora, a town that sits at the heart of a storied gold belt with a total endowment of more than 28 million ounces. Augustus’ ground abuts tenements held by regional giants Northern Star Resources and Genesis Minerals, with major gold projects in the neighbourhood including Darlot, King of the Hills and Thunderbox.

The definition of coherent mineralised shoots comes at a time when the region is a hive of corporate activity. The Leonora–Laverton gold district is in the middle of a broader WA gold consolidation wave, with majors on the hunt for new ounces to feed their processing hubs. That backdrop helps explain why fresh exploration success in the area is attracting attention, with regional gold assets and land positions in the district increasingly in focus.

Recent activity includes the eye-watering $12.6 billion Genesis-Vault merger in July and Brightstar Resources' September acquisition of five critical exploration licences from Panther Metals immediately adjacent to its developing Laverton processing hub.

Of late, Genesis has been hoovering up gold ounces across Leonora and Laverton, building a formidable feed pipeline around its mills. It picked up Focus Minerals’ Laverton project to feed its restarted three-million-tonne-per-annum plant and splashed $639 million on Magnetic Resources to get exposure to the 2.24-million-ounce Lady Julie deposit in 2026. That buying spree followed a $600 million acquisition of St Barbara’s Leonora assets, including the Gwalia mine and mill, in 2023.

With assays from its latest targeted RC drill campaign due shortly and drilling operations set to kick off once wet ground conditions improve, Augustus looks set to generate plenty of newsflow. In a part of the world where big miners are looking for their next meal, defining coherent, higher-grade gold shoots is one way for a junior to get a seat at the table.

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au