Auris share price up more than 50pc on killer copper gold hits
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The Auris share price caught a rocket this morning after the explorer unveiled some significant copper and gold hits in the Bryah Basin of Western Australia.
At midday Auris (ASX:AUR) – which was pummelled last year — was up more than 50 per cent to 4.6c, its highest point since late November.
This was after the explorer announced drilling results from its neighbouring Forrest and Wodger prospects.
At Forrest, drilling hit a gold-rich cap above a deeper copper mineralisation that returned results (from 4m composite samples) like four metres grading 34.1 grams per tonne gold from 12 metres.
This is both shallow (which makes it easier to mine) and high grade. A gold deposit can be considered high grade at 5 grams per tonne.
Deeper drilling also intercepted 33 metres of 1.25 per cent copper from 276m.
And drilling at Wodger identified a significant mineralised zone, which included 15 metres grading 3.36 per cent copper and 1.86 grams per tonne gold, 107 metres from the surface.
Auris said the size of the overall mineralised system had been significantly expanded and was still open to the north.
“[The] full extent of Wodger-Forrest trend [was] yet to be evaluated,” the company told investors.
Auris, which had about $2.1 million in the bank at the end of September, plans to follow up with more detailed drilling.