Augustus Minerals Provides Mt Palmer Exploration Update (AUJ.AX, 00985303, 20090904)

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Augustus Minerals Provides Mt Palmer Exploration Update
Friday September 4, 2009, 12:05 pm

Original Announcement: Mt Palmer Exploration Update

Augustus Minerals advised that assay results from the recently conducted drilling program at the Mt Palmer project have been received and interpreted. RC drilling undertaken in August 2009 to evaluate this anomaly consisted of 12 holes for 850m on 4 lines approx. 120m apart. Composite spear samples were collected on 4m intervals and assayed for gold by fire assay. Elevated gold results were received for the southern two drill lines, defining a weak to moderately mineralised zone to the immediate north of the historic Mt Palmer workings, with a best intersection of 4m @ 1.1g/t from 8m. The northern two drill lines failed to intercept anomalous gold zones. The Board is now reviewing its strategy for the Mt Palmer project and a decision in respect of further exploration will be made in due course.

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