Augustus Minerals has expanded its gold exploration footprint at Music Well and is preparing for drilling, while progressing key licence applications in Papua New Guinea. Leadership changes and financial positioning signal a pivotal phase ahead.
- Expanded gold soil anomalies at Music Well with drilling planned for mid-February 2026
- Ongoing permitting and landowner engagement advancing Mt Kare project in Papua New Guinea
- Successful application for Vanapa River exploration licence in PNG, entering a frontier district
- Appointment of mining veteran Richard Jordinson to the board
- CEO Dr James Warren resigns; exploration leadership assumed internally
Music Well Project, Expanding Gold Prospects
Augustus Minerals has reported significant progress at its flagship Music Well project in Western Australia’s Leonora-Laverton Greenstone Belt. A comprehensive soil sampling program completed during the December quarter expanded the gold geochemical footprint at key prospects including Clifton East, Dodd’s, and St Patrick’s. Notably, the gold-in-soil anomalies at Clifton East now extend over 1.2 kilometres by 0.6 kilometres, highlighting this area as a priority for upcoming reverse circulation (RC) drilling scheduled to commence in mid-February 2026.
The company received the Heritage Survey Report in early January, a prerequisite for drill site preparation, clearing the way for the next phase of exploration. Geological and geophysical interpretations have refined target definitions, focusing on east to ENE-trending structures that are considered favourable for gold mineralisation. This methodical approach underscores Augustus’s commitment to disciplined exploration in one of Australia’s most prolific gold districts.
Advancing Papua New Guinea Ventures
In Papua New Guinea, Augustus continues to make strides with its Mt Kare and Vanapa River projects. The Mt Kare Gold Project, an advanced exploration licence application, remains in the permitting pipeline. The company has actively engaged with local landowners through multiple meetings in Port Moresby, positioning itself as the sole ASX-listed contender and a preferred development partner for this rare alkali epithermal gold system. Mt Kare’s geological similarity to world-class deposits such as Porgera and Lihir adds strategic value to Augustus’s portfolio.
Meanwhile, Augustus secured the Vanapa River Exploration Licence Application covering approximately 1,900 square kilometres in Central Province, PNG. This frontier exploration district lies near significant gold and copper deposits, including the Tolukuma Gold Mine and the historic Kodu porphyry deposit. Early site visits confirmed artisanal alluvial gold mining, and the company is advancing landowner engagement and permitting with plans for systematic exploration upon licence grant.
Corporate Developments and Financial Position
Augustus Minerals strengthened its board with the appointment of Richard Jordinson, a mining executive with over four decades of global experience, including senior roles at AngloGold Ashanti. His expertise in operational and underground mining is expected to bolster the company’s strategic execution as it moves toward drilling and potential development.
In a notable leadership change, CEO Dr James Warren resigned effective mid-December 2025. The company has since redistributed his responsibilities among the General Manager Exploration, Andrew Ford, Executive Chairman Brian Rodan, and the board, while initiating a search for a new CEO. Financially, Augustus reported $527,000 spent on exploration during the quarter and ended December with $1.07 million in cash. The company acknowledges the need for further capital raising to sustain operations and exploration momentum.
Looking Ahead
The upcoming quarter promises heightened activity with RC drilling at Clifton East, continued soil sampling to refine targets, and advancing exploration efforts in PNG. Augustus’s strategic focus remains firmly on gold, leveraging its diverse portfolio across Australia and Papua New Guinea to unlock value. The company’s disciplined approach to exploration, combined with its strengthened leadership and financial management, positions it well for the next phase of growth.
Bottom Line?
As Augustus Minerals prepares to drill and expand its footprint, investors will watch closely for results that could redefine its growth trajectory.
Questions in the middle?
- What will the initial drilling results at Clifton East reveal about the gold potential?
- How will the company navigate the permitting and landowner engagement challenges in PNG?
- What impact will the CEO transition have on the company’s strategic direction and capital raising efforts?