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1TheCompanyisnotawareofanynewinformationthatmateriallyaffectstheexplorationresults
29March2019
ASXANNOUNCEMENT
ACTIVITY REPORT MARCH QUARTER 2019
CORPORATEHIGHLIGHTS
• Successful International Company Presentation at 121 Hong Kong presents $7
millionCapitalraisingopportunity(1ReferASXrelease20thMarch2019).• NewcrestMiningLimitedpreliminaryexplorationresultsdiscussions(1ReferASX
Release7thMarch).
EXPLORATIONHIGHLIGHTSCLONCURRYQLD
• LargeTier1IOCGConductivedrilltargetsidentifiedadjoiningNewcrestMiningLimitedrecentdeepdrilling(1ReferASXRelease19thFebruary2019).
• IndependentExpertReportindicatesalargeIOCGorISCGmineralsystematdepthbelowtheMtFredaComplex(1ReferASXRelease25thFebruary2019).
• TheGoldenMilecontinuestodeliveradditionalhigh-gradegolddrillingresults(1ReferASXReleases28thFebruary&7thMarch2019).
• 3DGeophysicalModellingidentifiesmassive>2,000mlong,<400mwide
conductivestructure(theconductor),entirelyonAusmex’stenements(1ReferASXRelease14thMarch2019).
EXPLORATIONHIGHLIGHTSBURRASA
• Ausmex(AMG)andtheUniversityofAdelaide(UoA)havesuccessfullycompleted
their10kmspacedmagnetotelluric(MT)geophysicalsurveyovertheAusLAMPlarge
conductivestructurebeneathAMG’sBurracontrolledtenureinSouthAustralia.
• 7priorityconductivetargetsidentifiedfrom10kmspacedgriddedMTsurvey(1ReferASXRelease4February2019).
• Higher resolution 5km spaced gridded audio –magnetotelluric (AMT) completed
overtwoofthesevenprioritytargets(1ReferASXRelease9March2019).• InitialModellingof5kmspacedAMTofthecentralPrioritytargethasdefinedlarge
midcrustalconductivestructureswithdistinctconductiveplumescomingtosurface
beneathknowmineralization(1ReferASXRelease9thMarch2019).
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INTRODUCTION
Ausmex Mining Group Limited (“Ausmex” or “the Company”) Directors welcomeshareholders to our March 2019 Quarterly Report. The company continued to deliverexcellent exploration results through the March quarter generated from the highlyprospectiveIOCGgold,cobaltandcoppertargetsintheCloncurrysuiteoftenementsinQLD,andtheextensivecopper-cobaltbearingBurratenementholdingsinSouthAustralia.TheGoldenMileiscurrentlyunderaJointVenturewithRoundOakMineralsLimited,(80%Ausmexand20%RoundOakMinerals),withanoptionforAusmextoprocessalloreattheRoundOakMineralsLimited600ktpaCIPoreprocessingfacilityinCloncurry,(ReferASXrelease27thFebruary2018;TheCompanyisnotawareofanynewinformationthatmateriallyaffectstheexplorationresults).ContinuedhighgradegolddrillingresultsdeliveredduringtheMarch2019quartercontinuetoconfirmthepotentialfortheGoldenMiletodeliverlarge,shallowgoldmineralisationamenabletoopencutmining.The IOCGprospectivityof theMtFredaComplexwas furtherconfirmedduring theMarchquarter, with the company releasing results from recent 3D Geophysical modelling thatidentified amassive >2,000m long, < 400mwide conductive structure (the conductor),entirelyonAusmex’stenements, (ReferASXrelease14thMarch2019:TheCompany isnotawareofanynewinformationthatmateriallyaffectstheexplorationresults).TheCompanyhassimultaneouslyprogressedtheBurra,SAprojectduringtheMarchQuarterwith Prof. Graham Heinson’s team from the University of Adelaide (UoA) successfullycompletedthemodellingof10kmsgriddedMTSurveydataand identifyingsevenprioritynewconductivestructureswithintheAusmex’scontrolledtenureatBurra,SA.(ReferASXreleaseson16th&30thOctober2018;&4thFebruary2019;TheCompanyisnotawareofanynewinformationthatmateriallyaffectstheexplorationresults).
ManagingDirectorMattMorganstated:
“TheMarch2019quarteragainhascontinuedtodeliverafocusedandfastpacedexploration
campaignwithinbothBurraSA,andCloncurryQLDthathasproducedpositiveexploration
outcomesfortheCompany.
ShareholdershaveexposuretotwopotentialWorldClass,Tier1IOCGtargets,withMT
modellingbytheUniversityofAdelaidedefiningsevenconductivestructuresatBurra,aswell
asthemassive>2kmlongconductivestructureidentifiedattheMtFredaComplexat
Cloncurry,confirmedtobewithincloseproximitytoanIOCGorISCGigneousintrusionby
IndependentExpertEmeritusProfessorKenCollerson,(ReferASXreleaseson4th,16
t&30
th
October2018,4th&25
thFebruary2019,14
thMarch2019;TheCompanyisnotawareofany
newinformationthatmateriallyaffectstheexplorationresults).
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This alone is an incredible outcome for shareholders, yet the Company has continued to
successfullydelineatefurthersignificantgold,mineralisationatTheGoldenMilethathasthe
potentialtohostalarge,shallowmineralisedsystemthatmaybeamenabletobulkmining.
AsAusmexhasanoptiontoprocessorefromtheGoldenMileattheRoundOakMinerals600
ktpaCIPoreprocessingfacilityinCloncurry,thereisthepotentialtofasttrackanyeconomic
mineralisationintoproduction.(ReferASXrelease27thFebruary2018,28
thFebruary2019&
7thMarch2019;TheCompanyisnotawareofanynewinformationthatmateriallyaffectsthe
explorationresults).
Ausmexhavedonetheworkoverthelast3monthsthathasagainsetthesceneforavery
excitingJune2019quarterforAusmexShareholders”.
MARCHQUARTERCORPORATEACHIEVEMENTSInternational Company Presentation 121 Hong Kong presents $7 million Capital raisingopportunity.Managing Director Matt Morgan presented Ausmex to a wide group on InternationalInvestorsattheminingconference,121HONGKONG,inlateMarch(ReferASXRelease20thMarch2019;TheCompanyisnotawareofanynewinformationthatmateriallyaffectsthe
explorationresults).FollowingtheoverwhelmingreceptionfrominvestorsexpressinganinteresttoparticipateinacapitalraisingviaashareplacementinAusmex,thecompanyreceivedoversubscriptionsandraised$7milliondollarsviaplacing58,333,336additionalnewshares.ThePlacementwascompletedpostreportingperiodon2ndApril2019(ReferASXRelease2ndApril2019).Theadditional funds will be used for continuing exploration activities at both the highlyprospectiveBurraprojectinSA,andanextensivedeepdrillingprogramattheexcitingTier1IOCGprojectattheMtFredaComplex,CloncurryQLD,(ReferASXrelease2ndApril2019forcapital raising details;The Company is not aware of any new information thatmateriallyaffectstheexplorationresults).NewcrestMiningLimitedpreliminaryexplorationresultsdiscussions.AusmexManagingDirectorMattMorganwas invitedearly intheMarchquartertoattendpreliminaryexplorationresultdiscussionswithNewcrestMiningLimitedseniormanagementrepresentativesintheNewcrestMiningLimited,StKildaRoadofficesinMelbourne.NewcrestMining Limited expressed an interest to review the current Ausmex exploration data setassociated with the Mt Freda Complex, including a site inspection, however suitableconfidentialitytermswerenotreceivedfromNewcrest,andnofurtherdiscussionshavetakenplace(ReferASXRelease7thMarch2019;TheCompanyisnotawareofanynewinformation
thatmateriallyaffectstheexplorationresults).The Company will continue to update shareholders of any further progress relating toNewcrestMiningLimited.
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MARCHQUARTERACHIEVEMENTSCLONCURRYQLDGoldenMileIOCGProspectivityIndependent Expert Emeritus Professor Kenneth D Collerson (PhD., FAusIMM) presentedfindings validating the significance of a large IOCG (Iron Ore Copper Gold) or ISCG (IronSulphideCopperGold)mineralsourcebelowtheLittleDukeGoldMine,locatedwithintheAusmexcontrolledMtFredaComplex.(ReferASX25thFebruary2019;TheCompanyisnotawareofanynewinformationthatmateriallyaffectstheexplorationresults).KeyFindingsInclude:
Ø TheRCdrillingdataindicatesthatLittleDuke,oneof9parallelhistoricalGoldmineralisedsystems(andthemosteasterndrilledtodate),locatedwithintheGoldenMileProjectwhichformsparttheMtFredaComplex, isproximaltoadeeperandfertileIOCGorISCGmineralsystem.
Ø The Little Duke drilling data (LD18RC006) is highly significant, and it isrecommendedthatdiamondcoredrillingshouldcontinueintheRCholes(Pre-collarsalreadydrilledat theLittleDuke), totargetthedeeper IOCG(OlympicDamstyle)orISCG(Eloisestyle)alkalineigneoussourceofthemetalanomalism.
Ø LittleDukedrillholeLD18RC006combinedGoldandCopperdownholemineralisation:(ReferASXRelease29thNovember2018;TheCompanyisnotawareofanynewinformationthatmateriallyaffectstheexplorationresults)
o 67m@1.33g/tAuand0.47%Cuo Goldassaysupto8.00g/tGold,1,100ppmCobaltand1.43%Copper.
Ø LittleDukeDrillHoleLD18RC006waspossiblydrilledintothecontactofaTier1IOCG target that Ausmex shares with Newcrest Mining Limited (ASX:NCM)(Refer ASX 19th February 2019; The Company is not aware of any newinformationthatmateriallyaffectstheexplorationresults).
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Figure1.DrillHolelocationplanattheLittleDukeGoldprospectwheredrillholeLD18RC006intersectedsignificantgoldandcoppermineralisationastheholewasdrilledintothecontactofaTier1IOCGprospect.DatainterpretationbyProfessorKennethDCollersonindicatestheLittleDukemaybeincloseproximitytoanIOCGsource.(ReferASXreleasesonthe14thJune 2018 and the 29th November 2018& 19th February 2019 for additional results; TheCompanyisnotawareofanynewinformationthatmateriallyaffectstheexplorationresults).Source:QLDGov.MtIsaTMIGSQopenfiledatasetSurveyGSQ1029&ExcoIOCGRoadshowrelease2012
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GoldenMileAdditionalHigh-GradeDrillingResultsFalconProspect:(ReferASXreleases28thFebruaryand7thMarch2019;TheCompanyisnot
awareofanynewinformationthatmateriallyaffectstheexplorationresults)
• RCdrillholeFA18RC016:13m@4.27g/tAu(44-57m),including5m@8.11g/tAu(48-53m)
• RCdrillholeFA18RC017:3m@6.91g/tAu(09-12m),including1m@20.20g/tAu(11-12m)followedby5m@1.49g/tAu(46-51m)
• RCdrillholeFA18RC019:2m@12.45g/tAu(13-15m)
ShamrockProspect:(ReferASXreleases28thFebruaryand7thMarch2019;TheCompanyis
notawareofanynewinformationthatmateriallyaffectstheexplorationresults)
• RCdrillholeSH18RC030:3m@3.24g/tAu(8-11m)including1m@7.79g/tAu• RCdrillholeSH18RC025:3m@8.18g/tAu(53-56m)• RCdrillholeSH18RC026:1m@6.75g/t(0-1m)followedby3m@3.14g/tAu(18-
21m)
Figure2.GoldenMileschematicinterpretation.RefertoASXreleaseson30thAugust2018,10thSeptember2018,8th&26thOctober2018,9th,15th&23rdNovember2018,&28thFebruary&7thMarch2019forresults.(TheCompanyisnotawareofanynewinformationthatmateriallyaffecttheexplorationresults)
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TIER1IOCGDRILLINGTARGETS
3DGeophysicalModellingidentifiedamassive>2,000mlong,<400mwideconductivestructure(theconductor),entirelyonAusmex’stenementsinadditiontotheTier1IOCG“Canteen”targetAusmexshareswithNewcrestMiningLimited.Ø IndependentBrisbanebased,GeophysicalConsultants,GeoDiscoveryGroupcomplete
3D geophysical modelling combining historic heliSAM survey, detailed regionalmagneticdataandVTEMsurveydata.
Ø 3Dmodelhasdelineateda>2,000mstrongconductivedrilltargetupto400mwide,rangingfromanapproximate200mto>500mdepth,entirelywithinAusmex’sminingtenementsincludingtheGoldenMileplungingSouthtowardsNewcrest“Canteen”andappearstoextendundertheMtFredaMiningLease.
Ø 3Dmodelresultsjustcompleted,supportIndependentexpertEmeritusProfessorKenCollersonPh.DFAusIMMpreviousfindings–“potentialforalargeIOCGorISCGmineralsourcebelowtheGoldenMile.”(ReferASXrelease25thFebruary2019;TheCompanyisnotawareofanynewinformationthatmateriallyaffectstheexplorationresults).
Figure3.Representativeviewsofthe3DSAMMMCmodelandstrong>2,000mconductivefeature.(ReferASXrelease14thMarch2019;TheCompanyisnotawareofanynewinformationthatmateriallyaffectstheexplorationresults).
GoldenMile
Drilling
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Figure4.Representativeplanviewofthe3DSAMMMCoutputwithintheGoldenMileSubblocks.Notetherelativeshallowdrilltargetdepthsastheconductivetargetplungesfrom~200mfromsurfaceinthenorthadjacenttheGoldenMileto>500mtothesouthundertheAusmexcontrolledMtFredaMiningLicense,withfurthergeologicalinterpretationpossiblyextendstowardsNewcrest“Canteen“drilling.(ReferASXrelease14thMarch2019;TheCompanyisnotawareofanynewinformationthatmateriallyaffectstheexplorationresults).ProfessorKenCollersondescribedthepotentialindetailviathefollowingvideolinkfromtheCompanywebsite:ProfessorKenCollersondiscussesAusmexsignificantIOCGpotentialIOCGdepositsareoftendescribedas“longribbon-likebrecciaormassiveironoxidedepositswithinfaultsorshears”.(Source:“TheGeophysicsoftheErnestHenryCu-Audeposit(N.W)QLD.M.Webb&P.Rowston;ExplorationGeophysics26(3)51-59Published1995.)
Projection:GDA(Zone54)
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Figure5.SchematicGeologicalinterpretationthatthelargeConductivestructureundertheGoldenMilemaybethesourceofmineralisation.(ReferASXrelease14thMarch2019;TheCompanyisnotawareofanynewinformationthatmateriallyaffectstheexplorationresults).
MARCHQUARTERACHIEVEMENTSBURRA,SA
• Ausmex(AMG)andtheUniversityofAdelaide(UoA)havesuccessfullycompletedtheir10 km spaced magnetotelluric (MT) geophysical survey over the AusLAMP largeconductivestructurebeneathAMG’sBurracontrolledtenureinSouthAustralia.
• 7priorityconductivetargetsidentifiedfrom10kmspacedgriddedMTsurvey(1ReferASXRelease4thFebruary2019).
• Higherresolution5kmspacedgriddedaudio–magnetotelluric(AMT)completedovertwoofthesevenprioritytargets(1ReferASXRelease4thFebruary2019).
• InitialModellingof5kmspacedAMTofthecentralPrioritytargethasdefinedlargemidcrustalconductivestructureswitdistinctconductiveplumescomingtosurfacebeneathknowmineralization(1ReferASXRelease9thMarch2019).
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BURRAPROJECTEXPLORATIONRESULTS
AusmexandProf.GrahamHeinson’steamfromtheUniversityofAdelaide(UoA)successfullycompletedthe10kmsgriddedMTSurveyinOctober2018andtheresultantmodellinghasidentifiedsevenprioritynewconductivestructureswithintheAusmex’scontrolledtenureatBurra,SA(Figure6).
Thelocationandsizeofthesenewstructuresareconstrainedbythelimitsofthe10kmSurveygridspacingsandtheuseofMTtodefinethesestructuresatdepthof2to10kms,howevernow that Ausmex is confident that such structures exist and the regional prospectivity isthereforeconfirmed,Ausmexhascommencedimplementationofaregional5kmspacedgridbasedSurveyusingAudio-Magnetotellurics (AMT). Whilestillona regionalscale thisgridspacingwill increasethedataresolutiontofurtherdefinethe locationanddepthofthesedepositscalestructuresandfocusesondepositscaleconductivestructuresinthesurfaceto2000mdepth range.Essentiallyprogressing theconductive zones toexplorationanddrilltargets(Figure7).
Inprogressingthiswork,Ausmexremainsthefirstcompanytoutilizethedataproducedfromthe50kmspacedAusLAMPMTgridandtousethattohomeinonnewdepositsthroughthesuccessiveapplicationofcloserspacedgridstodevelopexplorationanddrillingtargets.Assuch,thishasproventobeacost-effectivemethodtoexplorefornewconductivestructuresoverlargeareasofpreviouslyunderexploredground.
Thefieldcomponentofa5kmspacedgrid-basedSurveyusingAudio-Magnetotellurics(AMT)atBurraovertwoofthesevenprioritytargetswascompletedinMarch2019(Figure7).Datafrom39siteswascollected.Initialresultswerereportedafterthereportingperiodon9thApril2019,(ReferASXAnnouncementpostreportingonthe9thApril2019;TheCompanyisnotawareofanynewinformationthatmateriallyaffectstheexplorationresults).
TheInitial2DInversionmodellingbyZongeEngineeringandResearchOrganization(Aust)PtyLtd(Zonge)isveryencouraging,defininggreaterclarityinthetop2000m.InitialresultshaveidentifiedshallowtomidcrustalconductivezoneswithdistinctplumesthatleaduptothesurfaceunderknownmineralizationaroundBurra,SA(Figure7&8).Thepotentialmineralplumesareupto8kminwidth.
Zongewillcontinuetocompletetheremainingmodellingoverthetwoprioritytargets,withtheaimof identifyingpotentialmineralisedplumesandfluidpathwayssuitablefordrillingtargets.
TheCompanyistargetingamantleplumegenerated,IOCGstylemineralsystemofpossiblysimilarscaleandpotentialmetalendowmenttoOlympicDam,Carrapateena,andProminentHill, aspreviouslydefinedby IndependentExpertEmeritusProfessorKennethDCollerson(ASXAnnouncement4October2018;TheCompanyisnotawareofanynewinformationthatmateriallyaffectstheexplorationresults).KeyfindingstodateatBurrainclude:
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o HydrothermalfluidcompositionsatBurraareinterpretedtobesimilarto
thoseatOlympicDamandintheIdahoCobaltBeltintheUSA.ThesemineralsystemsweregeneratedbythesameMesoproterosoicplumemagmaticeventduringbreak-upofthesupercontinentColumbia.
o TheAusLAMPconductivitydomainidentifiedbelowBurraissimilarinscaleandcharactertothelargeMTconductiveanomalybelowBHP’sOlympicDam.
o AswithOlympicDam,theBurraConductivityanomalyisinterpretedtoimagethemetalmigrationregioninvolvedinformationofthemineralsystem.
o SignificantpotentialforeconomicconcentrationsofCobaltandPlatinumGroupElements.
o PotentialfortheAusmexheldBurratenementsuitetohostanothergiant
Jinchuanstyleoredepositwhichisthelargestsinglemagmaticsulphide
depositintheWorld.
o ThisinterpretationissupportedbythefactthatmineralisationatBurraand
Jinchuanareidenticalinageformingduringthesamemetallogenicevent
duringbreak-upofthesupercontinentRodiniaatca.830Ma(IndependentExpertEmeritusProfessorKennethDCollerson(ReferASXrelease4October2018;TheCompanyisnotawareofanynewinformationthatmateriallyaffectstheexplorationresults).
AusLAMPistheAustralianLithosphericArchitectureMagnetotelluricProject,whichallowsgeoscientiststounderstandthedeepgeologyofthecrust,includingsignaturesofworld-classmineraldeposits.Magnetotellurics(MT)isdefinedbyGeoscienceAustraliaasapassivegeophysicalmethodwhichusesnaturaltimevariationsoftheEarth'smagneticandelectricfieldstomeasuretheelectricalresistivityofthesub-surface.Audio-Magnetotellurics(AMT)isdefinedinGeoscienceAustralia’sdocumentationas“TheAudio-Magnetotelluricmethod(AMT)samplessignalfrequenciesintherangeof20kHzdownto~1HzandprovidesdatapertainingtotheupperfewkilometresoftheEarth'crust.”
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Figure6.PlanovertheBurraRegionshowingapproximatelocationofdepositscaleconductivestructuresidentifiedbyAMG’s10kmgridMTsurvey,(ReferASXrelease4thFebruary2019;TheCompanyisnotawareofanynewinformationthatmateriallyaffectstheexplorationresults).
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Figure7.PlanovertheBurraRegionshowingthe5kmspacedgridfocusinginonthepriorityconductivestructuresidentifiedbytheCompany’sprevious10kmgridMTsurvey.ConductiveZones1and5completedMarch2019.(ReferASXAnnouncement4thFebruary2019&;TheCompanyisnotawareofanynewinformationthatmateriallyaffectstheexplorationresults).
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Figure8.Cross-section6,270,000mNpreliminary2Dinversionmodelshowsperspectiveconductive‘plumes’leadingtosurfacefrommidcrustalconductivezonesbeneathknowncoppermineralization–MonsterMineandBurraWestMine(SARIG2019,DepartmentofEnergyandMining).(ReferASXAnnouncement4thFebruary2019&postreportingonthe9thApril2019;TheCompanyisnotawareofanynewinformationthatmateriallyaffectstheexplorationresults).
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CloncurryProjectTenements
Tenement ProjectName Holder AusmexBeneficialInterest(%) GrantDate ExpiryDate Area(km2/ha) Status
EPM14163 WhiteRange#2 QMCExplorationPtyLtd1 80 19/10/2004 18/10/2019 17 Granted
EPM14475 WhiteRange#4 SpinifexMinesPtyLtd2 80 27/06/2005 26/06/2020 36 Granted
EPM15858 SunnyMount QMCExplorationPtyLtd 80 23/10/2008 22/10/2021 17 Granted
EPM18286 ElderCreek QMCExplorationPtyLtd 80 14/01/2013 13/01/2020 10 Granted
EPM15923 GoldenMileJV ExcoResources(Qld)PtyLtd 803 07/10/2008 06/10/2023 6 Granted
ML2517 Answer NorthQueenslandMinesPtyLtd 1004 01/12/1973 30/11/2025 8.09 Granted
ML2541 Belgium QldMiningCorporationLimited 100 01/02/1974 31/01/2021 4.05 Granted
ML2549 TheTrump NorthQueenslandMinesPtyLtd 100 01/02/1974 31/01/2021 12.14 Granted
ML2709 GildedRose SpinifexMinesPtyLtd 80 21/01/1982 31/01/2024 2.03 Granted
ML2713 GildedRoseExtdEast SpinifexMinesPtyLtd 80 21/01/1982 31/01/2024 18.21 Granted
ML2718 GildedRoseExtdWest SpinifexMinesPtyLtd 80 20/09/1984 30/09/2026 14.17 Granted
ML2719 GiltEdgeExtdEast1 SpinifexMinesPtyLtd 80 29/03/1984 31/03/2026 32.00 Granted
ML2741 MtFreda SpinifexMinesPtyLtd 80 29/05/1986 31/05/2028 3.80 Granted
ML2742 EveningStar SpinifexMinesPtyLtd 80 29/05/1986 31/05/2028 8.09 Granted
ML2750 EveningStarNorthExtd SpinifexMinesPtyLtd 80 26/01/1989 31/01/2028 5.14 Granted
ML2752 MtFredaExtd SpinifexMinesPtyLtd 80 23/02/1989 29/02/2028 116.48 Granted
ML2763 EveningStarNorth SpinifexMinesPtyLtd 80 08/06/1989 30/06/2028 8.00 Granted
1QMCExplorationPtyLtdisawhollyownedsubsidiaryofQldMiningCorporationLimited2SpinifexMinesPtyLtdisawhollyownedsubsidiaryofQldMiningCorporationLimited3AusmexMininghasan80%beneficialinterestintwosubblocksnumbered825pand825u4SeeASXannouncement06/07/2017
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BurraProjectTenements
Tenement ProjectName RegisteredHolder
AusmexBeneficialInterest(%)
GrantDate ExpiryDate Area(km2) Status
EL5881 Burra AusmexMiningPtyLtd 100 04/11/2016 03/11/2021 970 Granted
EL6101 BurraEast AusmexMiningPtyLtd 100 25/01/2018 24/01/2020 929 Granted
EL6102 BurraNorthWest AusmexMiningPtyLtd 100 25/01/2018 24/01/2020 990 Granted
EL6103 WorldsEndSouth AusmexMiningPtyLtd 100 25/01/2018 24/01/2020 986 Granted
EL6116 BurraFarSouth AusmexMiningPtyLtd 100 02/03/2018 01/03/2020 128 Granted
EL6158 Riverton AusmexMiningPtyLtd 100 22/05/2018 21/05/2020 986 Granted
EL6201 WorldsEnd AusmexMiningPtyLtd 100 20/07/2018 19/07/2020 818 Granted
EL6305 HansboroughArea AusmexMiningPtyLtd 100 08/02/2019 07/02/2021 190 Granted
EL6306 TarleeArea AusmexMiningPtyLtd 100 08/02/2019 07/02/2021 199 Granted
EL5473 PNXBagotWell PNXMetalsPtyLtd 60 05/08/2014 04/08/2019 71 Granted
EL5557 PNXWashpool PNXMetalsPtyLtd 60 10/11/2014 09/11/2019 135 Granted
EL5874 PNXBurraWest PNXMetalsPtyLtd 60 25/07/2016 24/07/2021 69 Granted
EL5910 PNXSpalding PNXMetalsPtyLtd 60 02/01/2017 1/01/2022 157 Granted
EL5918 PNXPrincessRoyal PNXMetalsPtyLtd 60 23/11/2016 22/11/2021 314 Granted
EL6150 PNXBurraNorth PNXMetalsPtyLtd 60 06/03/2012 05/03/2022 300 Granted
EL6326 PNXBurraCentral PNXMetalsPtyLtd 60 24/02/2019 23/02/2021 84 Granted
EL6327 PNXMongolata PNXMetalsPtyLtd 60 10/03/2019 09/03/2021 60 Granted
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MONGOLIANGOLDANDTUNGSTENPROJECTChuluunKhoroottungstendepositandgoldoccurrence,XV-015591.NofieldworkwascompletedduringthequarterontheprospectiveTungstenandGoldproject.AstheCompanywasnotableto divest the tenement and could not renew the tenement past themaximum tenth year, theMongolian GovernmentDepartmentMRAMrelinquishedthetenement.TheCompanynolongerhasanytenementsinMongoliaandhasclosedallentitiesinvolvedinMongolia.
MongolianProjectTenement
XV-015591 ChuluunKhorootCentrevilleLLC 0 relinquished
Tenement Project Name Registered Holder Ausmex
Beneficial Status Interest (%)
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AusmexCloncurryQLDTenementLocationPlan
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AusmexBurraSATenementLocationPlan
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ForwardLookingStatementsThematerialsmayincludeforwardlookingstatements.Forwardlookingstatementsinherentlyinvolvesubjective judgement, and analysis and are subject to significant uncertainties, risks, andcontingencies,manyofwhichareoutsidethecontrolof,andmaybeunknownto,thecompany.
Actualresultsanddevelopmentsmayvarymateriallyfromthatexpressedinthesematerials.Thetypesofuncertaintieswhicharerelevanttothecompanymayinclude,butarenot limitedto,commodityprices,politicaluncertainty,changestotheregulatoryframeworkwhichappliestothebusinessofthecompanyandgeneraleconomicconditions.Giventheseuncertainties, readersarecautionednottoplaceunduerelianceonforwardlookingstatements.Any forward-looking statements in thesematerials speak only at the date of issue. Subject to anycontinuingobligationsunderapplicablelaworrelevantstockexchangelistingrules,thecompanydoesnot undertake any obligation to publicly update or revise any of the forward-looking statements,changesinevents,conditionsorcircumstancesonwhichanystatementisbased.
CompetentPersonStatementStatements contained in this report relating to exploration results and potential are based oninformation compiled byMr.MatthewMorgan, who is amember of the Australasian Institute ofMiningandMetallurgy (AusIMM).Mr.Morgan is theManagingDirectorofAusmexMiningGroupLimitedandGeologistwhomhassufficientrelevantexperienceinrelationtothemineralisationstylesbeingreportedontoqualifyasaCompetentPersonasdefinedintheAustralianCodeforReportingofIdentifiedMineralresourcesandOrereserves(JORCCode2012).Mr.Morganconsentstotheuseofthisinformationinthisreportintheformandcontextinwhichitappears.CompetentPersonStatementStatements contained in this report relating to exploration results and potential are based oninformationcompiledbyMs.NicoleGallowayWarland,whoisamemberoftheAustralasianInstituteofGeoscientists(AIG).MsGallowayWarlandisaconsultantProjectManagertoAusmexMiningGroupLimitedandGeologistwhomhassufficientrelevantexperienceinrelationtothemineralizationstylesbeingreportedontoqualifyasaCompetentPersonasdefinedintheAustralianCodeforReportingofIdentifiedMineralresourcesandOrereserves(JORCCode2012).Ms.GallowayWarlandconsentstotheuseofthisinformationinthisreportintheformandcontextinwhichitappears.
CompetentPersonStatementStatements contained in this report relating to exploration results and potential are based oninformationcompiledbyProfessorKenCollerson,whoisaFellowoftheAustralasianInstituteofMiningandMetallurgy (AusIMM). ProfessorKenCollerson isan independentconsultant toAusmexMiningGroupLimitedandGeologistwhomhassufficientrelevantexperienceinrelationtothemineralizationstylesbeingreportedontoqualifyasaCompetentPersonasdefinedintheAustralian Code for Reporting of Identified Mineral resources and Ore reserves (JORC Code 2012).ProfessorKenCollersonconsentstotheuseofthisinformationinthisreportintheformandcontextinwhichitappears.
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