Auris Minerals Limited (ASX: AUR) has reported the maiden Mineral Resource estimate for its Forrest Project, located 130 km north of Meekatharra, in the Bryah Basin of Western Australia.
Auris Chief Operating Officer, Mike Hendriks, said the Forrest Project includes tenements E52/1659 and E52/1671, which fall under an agreement with Westgold Resources Limited whereby the latter owns all gold rights and a 20% free carried interest until a decision to mine for all copper rights.
Auris’ Mineral Resource estimate has been undertaken on the Forrest and Wodger prospects within the Forrest Project. A total Inferred Resource of 2.4 Mt @ 1.7% Cu and 0.44g/t Au for 41,500 t Cu and 34,300 oz Au has been estimated for both deposits and reported above a nominal 1.0% Cu cut-off grade.
We are delighted to provide the maiden copper resource to the market for the Forrest and Wodger prospects within the Forrest Project,” Mr Hendriks, said.
“The resource estimates provide a solid initial base to undertake further drilling, to infill and explore outside the resource area, given that both deposits are open along strike, down-dip and down-plunge.
“With a copper price, currently around AUD $8,700/tonne, the economic viability of the Forrest Project is looking extremely attractive.”
A total of 37 RC and diamond drill holes have been used in the resource estimation for the Wodger Prospect. The mineralisation at Wodger has been constrained by eight wireframe domains which have a total strike extent of 500m and a maximum vertical depth of 430m.
At Forrest, a total of 63 RC and diamond drill holes have been used in the resource estimation for the Forrest Prospect. The mineralisation at Forrest has been constrained by 10 wireframe domains which have a total strike extent of 500m and a maximum vertical depth of 430m.
Mr Hendriks said additional drilling is required in order to infill and extend the mineral resources. Further activities are also required in order to upgrade the mineral resources to indicated status.
