Ausmon Resources Limited holds 100% interests in three ELs (EL 6400, 6424 and 6464) covering a total area of 299 sq km in the highly prospective and under-explored Koonenberry Belt.
ELs 6400 and 6464 contains (contain) the extensive Grasmere and Peveril Cu-Zn-Ag-Au deposits, which contain an indicated and inferred JORC code 2004 compliant resource of 5.75 Mt (million tonnes) @ 1.03% Cu, 0.35% Zn, 2.3 g/t (gram/tonne) Ag and 0.05 g/t Au (Inferred: 2.73 Mt grading 0.9% copper, 0.4% zinc. 0.04 g/t gold and 2.05 g/t silver. Indicated: 3.02 Mt grading 1.15% copper, 0.3% zinc, 0.06 g/t gold, and 2.53 g/t silver). Information relating to the mineral resource was prepared and first reported in accordance with the JORC Code2004 in 2006. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was reported in 2006.
The resource is open in both directions and down dip, and has strong affinities with Besshi type VMS deposits. Besshi type deposits occur in Canada, Japan and elsewhere. They are known to be concordant, continuing for large distances along strike and down dip, often in stacked lenses. Tonnages are large, ranging from 15 to 300 million tonnes, with geochemical and mineralogical signatures very similar to those seen at Peveril and Grasmere.
EL 6424 contains the historic Wertago Copper Field and Nutherungie Silver Field, both of which are considered highly prospective and underexplored.