Heritage Deal Clears Way for Drilling at Music Well with Samples up to 50g/t Gold

Heritage Agreement Clears Path for Exploration

Augustus Minerals (ASX, AUG) has reached a significant milestone by signing a Heritage Protection Agreement (HPA) with the Watarra Aboriginal Corporation, the native title body representing the Darlot People. This agreement covers the Music Well Gold Project, located about 35 kilometres north of Leonora in Western Australia’s prolific Leonora-Laverton Greenstone Belt.

The HPA is a crucial step in ensuring that exploration activities respect and protect Aboriginal heritage sites within the project area, which spans over 1,345 square kilometres. By formalising this agreement, Augustus can now proceed with heritage surveys over its key prospects, notably Clifton East and St Patrick’s Well, which is a prerequisite before any ground-disturbing activities such as drilling can commence.

Promising High-Grade Gold Prospects

Both Clifton East and St Patrick’s Well have demonstrated impressive gold mineralisation from previous sampling campaigns. Clifton East has yielded rock chip samples with grades as high as 50.3 grams per tonne (g/t) gold, while St Patrick’s Well has reported samples up to 30 g/t. These results highlight the potential for significant gold discoveries within the project area, which sits amidst a region known for producing over 28 million ounces of gold from nearby operations.

Recent mapping and sampling have extended the high-grade mineralised zone at Clifton East to nearly one kilometre in strike length, with multiple quartz vein clusters identified. Similarly, St Patrick’s Well exhibits a complex mineral assemblage associated with gold, including silver, molybdenum, tellurium, bismuth, and tungsten, suggesting a robust and multi-element mineral system.

Next Steps and Market Implications

With the Heritage Protection Agreement in place, Augustus Minerals plans to conduct heritage surveys as early as mid-August. These surveys will pave the way for reverse circulation and aircore drilling programs designed to test the high-grade targets identified on surface. The company’s management has expressed enthusiasm about commencing drilling, which could unlock further value for shareholders if the promising surface grades translate into substantial underground resources.

Augustus Minerals’ broader portfolio also includes the Ti-Tree project in Western Australia and a licence application in Papua New Guinea, underscoring its strategic focus on gold and critical minerals exploration. The successful negotiation of the HPA at Music Well not only advances this flagship project but also demonstrates the company’s commitment to responsible exploration and strong community engagement.