for personal use only - asx · 2019. 4. 29. · 1 the company is not aware of any new information...

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 [email protected]/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:[email protected]/tAu(44-57m),[email protected]/tAu(48-53m)

• RCdrillholeFA18RC017:[email protected]/tAu(09-12m),[email protected]/tAu(11-12m)[email protected]/tAu(46-51m)

• RCdrillholeFA18RC019:[email protected]/tAu(13-15m)

ShamrockProspect:(ReferASXreleases28thFebruaryand7thMarch2019;TheCompanyis

notawareofanynewinformationthatmateriallyaffectstheexplorationresults)

• RCdrillholeSH18RC030:[email protected]/tAu(8-11m)[email protected]/tAu• RCdrillholeSH18RC025:[email protected]/tAu(53-56m)• RCdrillholeSH18RC026:[email protected]/t(0-1m)[email protected]/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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for personal use only - asx · 2019. 4. 29. · 1 the company is not aware of any new information...

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