VANCOUVER, BC, May 5, 2022 /CNW/ — Australian Goldfields Limited (the “Company”) (CSE: AUGF) (OTC: GRXXF) (Frankfurt: G0A) is pleased to provide an exploration update for the Nortia Project (19 blocks totaling 5,510 hectares) and the Cuprite East (6,936 hectares) and Cuprite West (2,980 hectares) Projects, all located in Pilbara, Western Australia.
The Company has retained Perry Remote Sensing, LLC of Denver, Colorado, to conduct a digital satellite analysis program on the Nortia, Cuprite East and Cuprite West Projects. The intent of the program is to provide target information for a planned future ground program. The image analysis program will include mineral modelling of surface exposures that may indicate pegmatites, including lepidolite and other varieties of muscovite that often characterize pegmatites. This will be combined with high-spatial resolution (or Hi-Res) satellite imagery that can enhance exposed fault zones and dikes, which further may constrain locations and provide targets for the upcoming field program.
Mining History of The Pilbara Region
The Pilbara region has a recent history of lithium production, beginning in 2017 with Mineral Resources (ASX:MIN) Wodgina Lithium Mine, which is among the world’s largest hard rock lithium operations. Pilbara Minerals (ASX:PLS) Pilgangoora lithium operation, and Global Lithium Resources Marble Bar Lithium Deposit, are also located in the Pilbara mining region.
The Technical and scientific information contained in this news release was reviewed by Mr. William Feyerabend, a Consulting Geologist and Qualified Person under NI 43-101. Mr. Feyerabend participated in the production of this news release.
ON BEHALF OF THE BOARD
Adrian Hobkirk President and CEO
1) Geochemistry from DMIRS data file (E46_795.zip) for WAMEX report A117450. Available at: https://geoview.dmp.wa.gov.au/GeoView/?Viewer=GeoVIEW&layerTheme=WAMEX&Module=WAMEX
2) Geological Survey of Western Australia. Available at: https://www.dmp.wa.gov.au/Geological-Survey/Geological-Survey-262.aspx
3) Novo Resources Exploration Update (January 28, 2022). Available at: https://www.novoresources.com/news-media/news/display/index.php?content_id=491
4) Tembourah Metals (ASX: TMB) – Expands Battery Metals Portfolio (9 September 2021). Available at: https://wcsecure.weblink.com.au/pdf/TMB/02419569.pdf
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This news release contains certain “forward-looking statements” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward-looking statements. The reader is cautioned not to place undue reliance on forward looking statements. We seek safe harbor.