Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to announce the results from the application of Artificial Intelligence (AI) algorithms to generate and predict gold targets within the Company’s Music Well project.

SensOre consultants have applied artificial intelligence (AI), machine learning (ML) and other processing techniques using both public and proprietary datasets over the Music Well Project.

• Cutting edge AI/ML algorithms targeting areas with minimal outcrop or under cover.
• Integration of geological, geochemical and geophysical data sets into the AI process to define digital mineralisation fingerprints and generate AI-enhanced gold discovery predictions.
• The AI SensOre study concluded that “Application of ML algorithms were found to model +1m oz Au potential with a high degree of predictability, and a total of 18 targets were identified within the Music Well project”:
  • Target 1 has the highest priority and is in the central north of the project with a strike length of 8km.
  • Target 1 trends NNW parallel to the general geological fabric as well as being intersected by several WNW trending cross structures.
  • Target 2 is located 4km east of the Wonder Deeps mine of Northern Star and is adjacent to a parallel WNW trending structure hosting Vault Minerals Great Western mine.
  • Target 2 is 1.4km in strike and 800m wide.
  • No historic drilling has been recorded at any of the target areas, highlighting the underexplored nature of the Music Well project.
• Next Steps
  • Geological mapping and sampling over these new targets are scheduled for the next two weeks to gain further insight into the new targets.
  • Results from the January rock chip sampling program are expected shortly.

Andrew Ford, GM Exploration

“The work by SensOre has focussed our attention from areas of outcrop, toward regional targets which are obscured in many cases by thin cover and sheetwash. By applying groundbreaking technologies such as artificial intelligence has enabled the rapid prioritization of multiple targets. The definition of targets reflecting a specific geophysical and geochemical response which also focuses on key mineralised structural trends provides encouragement as to the robust nature of the targeting process”.

Background:

Augustus Minerals Limited( ASX: AUG) holds the exploration licenses and applications comprising the Music Well Gold Project (“Project”) located 35km north of Leonora in the Leonora/Laverton Greenstone Belt of Western Australia.

Music Well comprises ten exploration licences covering an area of 1,345km2, making the Project one of the largest exploration packages in the region (Figures 1 and 2).

The outstanding gold endowment of the Leonora-Laverton District of >28M ounces3 is illustrated by the numerous operating gold mines including the Darlot Gold Mine (~12km to the north), the King of the Hills Mine (~20km to the west), the Leonora Gold Camp (~30km to the southwest), and the Thunderbox Gold Mine (~20km to the west).

AI Enhanced Gold Exploration

The Company commenced a gold targeting exercise with SensOre_X Pty Ltd (SensOre) in November 2024, using their Artificial Intelligence (AI) and Machine Learning (ML) technologies to allow predictive analytics to generate targets for discovery of gold systems at the Music Well project.

SensOre is an industry leading technology services provider of AI/ML applications to the minerals exploration and mining industry. SensOre’s technologies have been developed over many years and involve the application of new computer assisted statistical approaches and ML techniques across the mineral cycle to provide the next generation of exploration discoveries. SensOre aims to become the top global minerals targeting company through deployment of big data, AI/ML technologies and geoscience expertise.

The Company committed to this new technological approach to gold exploration at Music Well to reinforce the existing generative exploration undertaken by the Company and deliver new “out of the box” targets for gold mineralisation over the project area, which has minimal historic exploration and limited outcrop.

In addition, the Company has inherited a large and impressive database of geological, geochemical, and geophysical information since acquiring Music Well Gold Mines Pty Ltd in late 2024. Having a variety of good quality datasets is considered a key attribute for the application of the AI/ML technology to accelerate the discovery process. The data layers used in the AI/ML processing include results from 2,478 Ultra fine fraction soil samples, 18,042 soil samples and 155 rock chip samples, in addition to detailed aeromagnetic and gravity data.

The Music Well project is contained within an area of influence (AOI) where a “data cube” was constructed covering the four 100k scale regional map sheets containing 80m x 80m cells. This data cube contains 1,440,000 cells x 1,618 variables where the AI/ML technology was applied.

The application of the machine learning approach applied by SensOre to the database of geochemical, geological and geophysical information compiled over the Company’s AOI has demonstrated the highly gold prospective nature of the Music Well project. Application of the machine learning algorithms modelled the probability of gold systems within the AOI and more specifically the Music Well project. This required 107 variables for discrimination that were applied to the 80m by 80m cells within the AOI.

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Brightstar Resources (BTR:AU) has announced RIU Explorers Conference – Presentation

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The Board of Inca Minerals Limited (ASX: ICG) (Inca or the Company) is pleased to provide shareholders a progress report on due diligence associated with the recently announced (ASX 5 February 2025) Binding Implementation Agreement to acquire Stunalara Metals Limited (Stunalara) via an off market takeover bid. Stunalara’s key asset is the high-grade gold & gold- antimony Hurricane Project located approximately 110km west-northwest of Cairns and 75km southwest of Port Douglas in North Queensland. Hurricane boasts multiple undrilled high-grade gold & gold-antimony prospects developed from rock chip and grab sampling.

Inca’s technical team recently conducted a site visit as part of the due diligence process to confirm and replicate historical geochemical data, culminating with the collection and dispatch for assaying of 84 rock chip samples. Assays have now been received for those samples with exceptional results recorded for gold (Au) and antimony (Sb) at multiple prospects including Holmes, Cyclone, Tornado, Hurricane and Bouncer confirming the high-grade prospectivity of the Hurricane Project.

Assay Highlights (Refer to table 1, Appendix 1 for full results)

Assays with gold greater than 5g/t:

• Hurricane South – Sample MC0374: 81.5g/t Au
• Hurricane North – Sample MC0368: 12.95g/t Au
• Hurricane South – Sample MC0379: 11.9g/t Au
• Bouncer – Sample HRX10042: 8.29g/t Au and 12.7% Sb.
• Typhoon – Sample HRX10055: 7.84g/t Au
• Holmes – Sample HRX10083: 6.4g/t Au
• Holmes – Sample MC0392: 6g/t Au
• 2 other samples returned gold greater than 4g/t, three with grades over 3g/t and 12 with grades over 1g/t.

Highly anomalous levels of Antimony (Sb) were also recorded, which included:

• Bouncer – Sample HRX10029 with 35.1% Sb
• Bouncer – Sample HRX10036: 20.8% Sb
• Bouncer – Sample HRX10042: 12.75% Sb
• Bouncer – Sample HRX10037: 9.54% Sb
• Bouncer – Sample HRX10033: 7.78% Sb
• Holmes – Sample MC0393: 5.28% Sb, and
• Holmes – Sample MC0398: 4.89% Sb

29 samples returned highly anomalous arsenic values > 0.1% (>1000ppm As, up to 9840ppm in 1 sample).

“The identification of high-grade gold and antimony in rock chips across different locations which have never been drilled, highlights the significant exploration potential of the Hurricane Project for the discovery of gold and antimony. Inca Minerals is looking forward to progressing follow-up exploration programs to build on this significant rock chip data,” said Inca Exploration Manager, Dr Emmanuel Wembenyui.

In addition to gold, the Hurricane Project results include high levels (up to 35%) of antimony, a critical and new economy metal. Antimony is listed as a critical mineral by the United States, the European Union, Japan, India, the United Kingdom and the Commonwealth of Austalia. New economy metals are pivotal for modern technologies, economies and national security, providing direct support for technologies that are paving the way to the transition from fossil fuels to net zero emmisions , advanced manufacturing and defence technologies/capabilities amongst other applications.

HURRICANE PROJECT

Inca is pleased to report highly encouraging results from a geological reconnaissance field trip to the gold and antimony Hurricane Project. The Hurricane Project is located about 110km west-northwest of Cairns and 75km southwest of Port Douglas in North Queensland, Figure 1.

The Hurricane Project comprises three tenements – EPM 19437, which hosts the Holmes, Porphyry, Monsoon and Cyclone prospects, EPM 25855 in which are located the Hurricane and Tornado Prospects, and EPM 27518, which hosts the Bouncer prospect, Figure 1.

Geology of the Hurricane Project Regional Geology

The Hurricane Project area falls within the Mossman 1:250,000 and the Mount Mulligan 1:100,000 Queensland Geological map sheets. The regional geology traverses a wide Geological Timescale from the Devonian in the Hodgkinson Formation through granodiorite and rhyolitic Carboniferous and Permian intrusions to Triassic and Quaternary Sandstones. The Hodgkinson Formation comprises dark grey to greenish, fine to medium quartz greywackes interbedded with siltstones, mudstones and conglomerates. The Carboniferous to Permian granitic/granodiorite and rhyolite intrusions comprise a suite of felsic porphyritic intrusions. The main porphyritic bodies comprise medium to coarse-grained mineral crystals including euhedral hornblende- biotite, k-feldspar and quartz, which locally grade into fine-grained silicified granites.

Local Geology

The three tenements which make up the Hurricane Project are structurally set within two major NW-SE trending faults, being the Hurricane Fault and the Retina Fault. The Hodgkinson Formation dominates these tenements and comprises of tightly folded greywackes, siltstones, shales, cherts, conglomerates and limestones. Locally within the Hurricane Project are 2 felsic intrusions, which occur in EPM 19437 and are predominantly porphyritic granites. These intrusions are the major source of heat, which mobilised hydrothermal fluids to interact with surrounding country rock, leading to widespread alteration in the form of silicification, sericite and carbonates, and account for the deposition of epithermal gold, silver, and antimony mineralised veins. Epithermal gold deposits are strongly associated with hydrothermal fluids that are related to calc-alkaline volcanism and magmatism. Plots of La-Y-Nb on the ternary diagram of Cabanis and Lecolle, 1989; shows that the Hurricane Project falls within the Arc Calc-Alkaline geo-tectonic setting, supporting an epithermal exploration model for the project (Figure 2). Epithermal gold could be low or high sulfidation, depending on mineralogy and can occur as veins, stockworks, replacements or disseminations. Mineralisation within the project area is associated with variably altered, silicified and brecciated quartz veins ranging in widths from 2 to >50m and lengths over 700m. The mineralogy of the Hurricane Project which includes gold, antimony, silver, very limited sulphur, +/- lead and zinc, leans towards the low sulfidation model.

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Liberty Gold (TSX:LGD,OTCQX:LGDTF) plans to spin out its Goldstrike project, including the Antimony Ridge discovery, into a separate entity that will focus on strategic metals exploration and development in the US.

The company will continue developing its Black Pine oxide gold project in Idaho, while shareholders will gain exposure to a newly formed entity dedicated to antimony and gold assets in Utah.

In a Tuesday (February 11) press release, Liberty Gold said it has identified a third high-grade antimony zone at Antimony Ridge, located approximately 1.5 kilometers west of previously known mineralization.

The newly discovered zone extends over 400 meters, contributing to a cumulative mapped strike length exceeding 2 kilometers. Soil geochemical anomalies suggest a broader mineralized area spanning up to 5 kilometers.

Recent surface sampling in the new zone has yielded antimony values exceeding 3 percent and gold concentrations reaching 0.68 grams per metric ton. Additional sampling efforts are ongoing to further delineate the mineralized zone.

Further, three drill sites near the historic Lejaiv mine at Antimony Ridge are permitted, with additional applications underway to cover a larger portion of the mineralized trend. Liberty Gold has also expanded its land position at Antimony Ridge by staking an additional 2 square kilometers, increasing the total claim block to 10 square kilometers.

‘We believe that separating Liberty Gold into two independent entities will unlock significant shareholder value and maximize market exposure to both the Black Pine Oxide Gold Project in Idaho and to the new Antimony Ridge discovery at our Goldstrike Project in Utah,’ said Cal Everett, CEO and director at Liberty Gold, in the company’s release.

Future plans for Antimony Ridge include additional surface sampling, detailed field mapping and geophysical surveys.

A drill permit application is expected to be submitted in the first quarter of 2025 to evaluate the depth and lateral extent of mineralization. An initial drilling program of up to 5,000 meters is planned from 16 drill sites.

Discussions are also underway regarding processing options, including toll milling agreements and potential partnerships for establishing a dedicated US-based processing facility. The company is assessing funding opportunities through government grants to support the development of domestic antimony production.

The spinout transaction is expected to create distinct investment opportunities for shareholders, separating Liberty Gold’s oxide gold development from the new entity’s strategic metals focus. Additional details regarding the structure of the spinout and future exploration plans will be released as regulatory approvals progress.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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Castle Minerals Limited (“Castle” or the “Company”) advises that a recently completed eight-hole, 1,106m RC drill programme at its Kpali Gold Prospect in Ghana’s Upper West Region (“Project”, “Kpali”) has intersected mineralisation in all holes including 12m at 8.29g/t Au from 25m including 6m at 11.60g/t Au from 31m and a peak 1m intercept of 20.43g/t Au at 36m in an interpreted ‘hangingwall’ lode and then 4m at 4.16g/t Au from 95m in a lower “footwall” lode (24KPRC010).

• Extremely strong gold intercepts from eight-hole RC drilling programme at Kpali Gold Prospect in Ghana’s Upper West Region.
• All eight holes intersected shallow mineralisation with better intercepts including:
  • 12m at 8.29g/t Au from 25m (24KPRC010) incl.
    • 6m at 11.60g/t Au from 31m and
    • a peak 1m intercept of 20.43g/t Au at 36m and
    • 4m at 4.16g/t Au from 95m.
  • 7m at 2.23g/t Au from 35m (24KPRC011) incl.
    • 4m at 3.23g/t Au from 35m and
    • 11m at 2.24g/t Au from 50m incl.
    • 1m at 8.29g/t Au from 57m.
  • 5m at 3.66 g/t Au from 78m (24KPRC012) incl.
    • 2m at 7.09g/t Au 79m.
  • 13m at 1.58g/t Au from 73m (24KPRC014) incl.
    • 1m at 5.62g/t Au from 79m.
  • 1m at 8.35g/t Au from 5m (24KPRC015) and
    • 9m at 4.81g/t Au from 107m incl.
    • 2m at 8.75g/t Au from 109m.
  • 1m at 6.64g/t Au from 70m (24KPRC016).
  • 7m at 1.67g/t Au from 39m (24KPRC017) and
    • 3m at 3.08g/t Au from 78m.

• Status of Kpali Gold Prospect considerably upgraded.
• Broader district containing several other high conviction prospects confirmed as an emerging new exploration frontier.
• Next drilling programme to comprise step-out drilling at Kpali Gold Prospect and testing of other prospects including equally prospective Bundi discovery.
• Results hot on heels of recent Kandia “4000 Zone” RC programme that confirmed good gold continuity and returned strong intercepts including:
  • 7m at 3.36g/t Au from 149m within 24m at 1.78g/t Au from 139m (24KARC002) and
  • 5m at 3.49g/t Au from 82m within 11m at 2.26g/t Au from 79m (24KARC004).
• Immediate high-level objective is to confirm robust new West African mining camps at Kpali and Kandia and an initial 1.0Moz Au multi-prospect based mineral resource.

Castle Executive Chairman, Stephen Stone, commented “The Kpali Gold Prospect is developing into a robust discovery and is a strong indicator that we may be dealing with a new West African gold mining camp in Ghana’s emerging northern region.

The latest intercepts include some very decent widths and grades at shallow depths with good continuity which can have considerable positive impacts should mining be considered.

We have intersected a very impressive 12m at 8.29g/t Au from 25m, including 6m at 11.60g/t Au from 31m and a peak 1m intercept of 20.43g/t Au at 36m in a ‘hangingwall’ lode, and also 4m at 4.16g/t Au from 95m in a lower ‘footwall’ lode.

Apart from these standout results, very strong mineralisation has been encountered within most holes drilled, implying that with additional drilling we may be able to delineate a decent high value deposit.

We are very keen to get back drilling and to extend the Kpali Gold Prospect discovery as well as to follow-up historical drilling at the nearby Bundi discovery, 4km north.

There are also several other enticing prospects in the broader Kpali Gold Project area.

These drilling results follow excellent recent results from four holes at the Kandia Prospect, a second and separate gold discovery associated with a relatively under- explored 16km prospective contact between Birimian metasediments and a granite intrusion. Recent intercepts at Kandia included 7m at 3.36g/t Au from 149m within 24m at 1.78g/t Au from 139m and 5m at 3.49g/t Au from 82m within 11m at 2.26g/t Au from 79m.

These deposits lie in a classic setting for major gold deposits in West Africa and in particular northern Ghana which hosts the Cardinal Resources 5.1Moz gold Namdini deposit and the Azumah Resources 2.8Moz gold Black Volta Gold Project. The latter’s high-grade Julie deposit is immediately along strike from Kandia.

West Africa is where big gold discoveries can be and are still being made. With the gold price now at a level I could only dream of when starting my career, it’s the perfect time to be exploring Castle’s two new discoveries in the very stable, safe and mining friendly jurisdiction of Ghana.”

Additional intercepts included 7m at 2.23g/t Au from 35m(24KPRC011) including 11m at 2.24g/t Au from 50m, 5m at 3.6g/t Au from 78m (24KPRC012), 9m at 4.81g/t Au from 107m (24KPRC015) and 3m at 3.08g/t Au from 78m (KPRC017).

These results confirm the Kpali Gold Prospect, just one of several prospects within the broader Kpali Gold Project, as a robust discovery in a completely new district within Ghana’s emerging Northern Region exploration frontier.

With several other high conviction prospects yet to be evaluated in the area, including the nearby Bundi, Kpali East, Wa South East and Wa South West prospects, there appears to be present all the hallmarks of a new West African mining camp and the possibility of a considerable gold endowment.

The Kpali Gold Prospect lies within a mineralised corridor associated with a 30m to 50m wide zone of structural deformation immediately west of a granite intrusion. Three drilling programmes have identified near-surface, shallow plunging high-grade lode-style mineralisation to a depth of at least 100m. Multiple, closely-spaced mineralised lodes have been identified over at least 650m strike.

Overall, the geological setting at the broader Kpali Gold Project is of typically structurally-controlled, orogenic style mineralisation within Birimian terrane. This is a similar setting as that hosting several world- class gold mining operations in Ghana and West Africa generally. Orebodies with these characteristics can often extend to considerable depth.

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