Skip to content
Finance Investment, Oil Mining Resources

AustChina (ASX:AUH) – Mobilises for Maiden Drilling at Chenene Lithium Project

AustChina Holdings Limited (ASX:AUH) 2 mins read

Brisbane, Queensland – June 3, 2024 – AustChina Holdings Limited (ASX) (“AustChina” or the “Company”) is excited to announce that it has successfully mobilized for the maiden drilling program at the Chenene Lithium Project located in Tanzania. This initial campaign is set to explore four high-priority targets, identified by pegmatite rock chip assays showing lithium oxide (Li2O) concentrations as high as 1.08%.

Chief Executive Officer, Andrew Fogg, commented: “We are thrilled to have mobilised for the maiden drilling program, targeting four defined sites with promising rock chip samples assaying up to 1.08% Li2O. We eagerly anticipate drilling these targets to confirm the presence of lithium mineralization. Furthermore, we are pleased to collaborate with highly reputable local geological companies, ensuring the highest standards of expertise and oversight in our operations"

Key Highlights of the Maiden Drilling Program:

  • Onsite Mobilization: A drill rig has been successfully mobilized to the Chenene site, marking a significant step forward in AustChina’s lithium exploration efforts.
  • Targeted Exploration: Four prime targets have been identified for the drill program, with initial efforts focusing on eight drill holes. Potential expansions of the drilling program are anticipated based on visual inspections of the drill cores and assay results.
  • Partnerships and Approvals: AustChina has partnered with The MSA Group, a renowned geological firm based in Johannesburg, to oversee the drilling operations. Additionally, SGS South Africa has been appointed for laboratory analysis. The project has secured all necessary government and regulatory approvals through Cassius Mining (T) Limited.
  • Strategic Acquisition Plans: In alignment with the drilling initiative, AustChina has entered into an Exclusive Binding Heads of Agreement with Cassius Mining Limited (ASX) and its subsidiary, Cassius Mining (T) Limited. This agreement grants AustChina an option to acquire 100% of the issued capital in Cassius Mining (T) Limited, subject to due diligence and exploration outcomes.

Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

Media

More from this category

  • Finance Investment
  • 17/02/2025
  • 19:40
Bitget Limited

Bitget Launches Global Graduate Program to Cultivate the Next Generation of Web3 Talent

VICTORIA, Seychelles, Feb. 17, 2025 (GLOBE NEWSWIRE) -- Bitget, the leading cryptocurrency exchange and Web3 company, announced the launch of its first Bitget Graduate Program, an initiative designed to recruit and cultivate the next generation of blockchain and Web3 talent from top global universities. As part of Bitget’s Blockchain4Youth Corporate Social Responsibility (CSR) initiative, this program aligns with the company’s plans of driving education, innovation, and long-term growth in the blockchain industry.The Bitget Graduate Program seeks outstanding graduates with a global mindset, a passion for innovation, and a strong drive to explore the future of Web3. The program provides career…

  • Business Company News, Oil Mining Resources
  • 17/02/2025
  • 11:59
New Age Exploration (ASX:NAE)

New Age Exploration Reports High-Grade Gold Results up to 15.6g/t at Wagyu Project, Central Pilbara, WA

HIGHLIGHTS Resampling of Phase 2 air core drilling confirms further significant gold intercepts at the Wagyu Gold Project in Central Pilbara, Western Australia Assay…

  • Contains:
  • Finance Investment
  • 17/02/2025
  • 08:52
Chartered Accountants ANZ

Media Alert – CA ANZ Chief Economist Richard Holden on interest rates

17 February 2025 MEDIA ALERT Chartered Accountants ANZ (CA ANZ) Chief Economist Professor Richard Holden is available for interviews (on request) about tomorrow’s Reserve Bank of Australia’s interest rates decision. When: Today and Tuesday 18 February, 2025 Contact: Gillian Bowen 0411 485 421 or gillian.bowen@charteredaccountantsanz.com Note: Professor Holden, who remains Scientia Professor of Economics at UNSW Business School, is also available to speak as CA ANZ Chief Economist on the economic impact of party policies in the lead up to, and after, the Australian Federal Election. More information on Professor Holden’s appointment as CA ANZ Chief Economist is available here.…

  • Contains:

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.