Auroch Minerals (ASX: AOU)
Auroch Minerals (ASX:AOU) isn’t slowing down when it comes to adding to its exploration portfolio of metals essential to the thriving renewable energy industry.
While it is currently drilling for zinc and copper in Portugal, AOU has now signed an option agreement granting it the right to acquire 100% of the Tisová underground copper mine and three exploration licence applications – in the Czech Republic.
For AOU, the opportunity here lies in the volcanogenic massive sulphide (VMS) mineralisation that boasts high cobalt and gold levels, but has never actually been evaluated or mined for these metals.
This Czech-based project could give the $12.87 million-capped AOU a look at a previously unrecognised cobalt play and the company is wasting no time in getting down to business with drilling slated for Q3 2017, just months from now.
With extensive underground development already conducted, AOU is now determining the most efficient method to progress mine exploration and subsequent development.
Furthermore, assays from recent grab samples already look to have produced highly encouraging, significant grades of cobalt, copper and gold.
The information on this page not be the only trigger for your investment decision. Click on the links below for a more in-depth and informed examination of the company. We strongly recommend you seek professional financial advice whenever making financial investment decisions.
In Portugal, AOU is continuing its drilling for copper and zinc and recently completed its first diamond drill hole, then immediately commenced its second hole at its highly prospective base and precious metal Alcoutim project along strike from the super-giant Neves Corvo mine. Results are expected in just two weeks.
With $7.5 million in the bank, the 12.8 million capped AOU looks to be making expedient work of its exploration programs and is in a strong position to release a flurry of news from its diversified portfolio of projects in the coming months.