Augustus Minerals has completed heritage surveys and soil sampling at its Music Well gold project, setting the stage for maiden drilling, while its Mt Kare project in Papua New Guinea moves through permitting with plans for aggressive development.
- Heritage survey completed at Music Well, no impediments to drilling
- Identification of four probable sanukitoid intrusions enhancing gold prospectivity
- 1,434 soil samples collected targeting key mineralised structures
- Mt Kare gold project license application progressing, with development plans outlined
- Raised $1.675 million in capital raise, ending quarter with $1.94 million cash
Exploration Momentum at Music Well
Augustus Minerals Limited (ASX, AUG) has reported significant progress at its flagship Music Well Gold Project in Western Australia during the quarter ending 30 September 2025. The company completed heritage surveys across key target areas including Clifton East, St Patrick’s Well, Dodd’s, and Black Cat East, conducted by the Darlot People. Importantly, no impediments were identified, allowing the company to proceed with planned drilling activities imminently upon receipt of the formal heritage report.
Further enhancing the project's prospectivity, multi-element analysis by the Geological Survey of Western Australia identified four probable sanukitoid intrusions within the Music Well tenure. These intrusive rocks are geologically significant as they are associated with major gold camps in the Eastern Goldfields and the Pilbara, such as St Ives and the Hemi Gold Discovery. This geological context positions Music Well as a promising exploration ground.
Soil Sampling and Prospecting Insights
Augustus Minerals collected a total of 1,434 soil samples during the quarter, including 261 samples at St Patrick’s Well and 1,173 auger samples targeting extensions of known mineralisation trends. Early results indicate gold anomalism is linked to intersecting ENE and NW trending structures, focusing high-grade mineralisation zones. Additionally, prospectors have identified several gold nugget patches along major structural trends, notably at Golden Dingo and Clifton East-Dodd’s, suggesting the presence of mineralised systems near surface.
Mt Kare Project, Permitting and Development Plans
In Papua New Guinea, Augustus Minerals holds a second-in-time license application for the Mt Kare Gold Project, a large undeveloped alkali epithermal gold deposit comparable to world-class mines like Porgera and Lihir. The permitting process is expected to advance in 2025, with the company prepared to undertake rapid underground development, aggressive drilling, and advanced geological studies upon gaining access. These efforts aim to delineate bonanza-grade zones and accelerate feasibility and resource studies for both underground and open pit mining scenarios.
Corporate and Financial Position
Augustus Minerals successfully raised $1.675 million in a September capital raise, issuing over 36 million shares with attached options, bolstering its cash position to $1.94 million at quarter-end. Exploration expenditure for the quarter was $371,000, focused primarily on surveys, mapping, and assays. The company maintains all tenements in good standing and is actively preparing for its maiden drilling campaign at Music Well, expected to commence shortly after the heritage report is received.
Looking Ahead
In the coming quarter, Augustus plans to complete the heritage survey report, receive soil sampling results, and initiate its first drilling program at Music Well. Meanwhile, progress on the Mt Kare license application will be closely monitored, as its outcome could significantly impact the company’s strategic direction. The Ti-Tree Project remains on hold with no field activities reported this quarter.
Bottom Line?
Augustus Minerals is poised to unlock value through imminent drilling at Music Well and advancing Mt Kare’s permitting, with market eyes on upcoming assay results and license decisions.
Questions in the middle?
- What will the assay results from the maiden Music Well drilling reveal about gold grades and mineralisation continuity?
- How will the Mt Kare license application process unfold, and what are the chances of securing the permit ahead of competitors?
- Can Augustus effectively convert its geological insights into a defined resource and development plan that attracts further investment?