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Tombola hits massive at Little Duke

5 May 2022

ASX:TBA

Jack Baker

Tombola Gold’s first drill hole at the Little Duke project hit multiple intersections of visible massive sulphides adjacent to its Mt Freda gold complex near Cloncurry in Queensland’s northwest.

The company made the remarkable find within an intersected zone of copper and cobalt mineralisation 170 metres wide.

Amid booming demand for copper and cobalt, the mineralised trend appears to be a deep and sizeable igneous intrusion –potentially holding a swathe of the critical minerals.

The company said it was a promising development from just the one drill hole.

“The mineralisation from 70 metres beneath surface has the potential to establish this project as a very large target for the copper, gold and cobalt operation located proximate to our flagship Mt Freda Gold Mine expected to produce initial gold over the coming months,” managing director Byron Miles said.

The company expect assay results within four weeks, with the second drill hole of Little Duke having commenced.

TBA’s Australian Stock Exchange-listed share price has risen 4.9 per cent today, selling at 6.4c (8.51 am UTC+8 hours).

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COMPANY OVERVIEW

Ausmex is a company assembled by experienced, exceedingly well-qualified and all very well rounded team members that have previously floated exploration companies which achieved major resource discoveries and success. Between the Ausmex team members, Ausmex as a company have well over 100 years of accumulated experience in the mining, exploration and resource sector.

Ausmex principal objective is to acquire assets to explore for and develop a large IOGC or porphyry deposit funded by low-risk gold production resources. To that end, Ausmex has a license covering 970 sq km prospective for gold/copper in the Mount Bryan-Red Banks-World’s End area near Burra in South Australia; with strategic agreements with Queensland Mining Corporation.

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ASX:TBA

Website
tombolagold.com

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