Austral Resources Says Drilling at Queensland Project Identifies Possible Copper-Gold Lode; Shares Jump 7%
MT Newswires Live
Jul 30
Austral Resources Australia (ASX:AR1) said ongoing drilling identified a possible second, parallel copper-gold lode around 300 meters south of the Snow Queen prospect at the Cameron River project in Queensland, according to a Thursday Australian bourse filing.
Drilling intersected 15 meters at 1.2% grade of copper and 0.24 grams per tonne grade of gold from 60 meters on the Santa Maria Trend, the company said, adding that the intersection is interpreted to represent a possible second copper-gold lode. Further drilling is required to confirm continuity and geometry.
The company's shares jumped nearly 7% in recent trading on Thursday.
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