Auzex Resources Focuses on West Coast Granite Gold Associated Mineralisation

Australian and New Zealand mineral exploration company Auzex Resources Ltd is targeting West Coast South Island prospects containing Reefton-style gold mineralisation and intrusive granites containing minerals such as tungsten, tin, molybdenum and bismuth as well as gold and silver.

Auzex Resources, which was listed on the Australian Stock Exchange in 2005 after raising A$5 million in an initial public offer of shares, says in its quarterly report to 31 March 2006 that its current exploration programme aims to scope the potential for either granite related or Reefton style gold mineralisations on the West Coast.

Auzex Resources says its strategy is to have a competitive advantage through its expert knowledge of the mineral systems and the terrains it is exploring. This allowed Auzex to identify specific areas capable of producing economic grades of gold, silver, bismuth, molybdenum, tin and tungsten.

Auzex has used new spatial data modeling techniques to integrate and assess many millions of items of geological data from Eastern Australia and the West Coast to produce the prospectivity models used to acquire and target the company’s main mineral assets.

Auzex in 2004 was granted a prospecting permit (PP 39271) over the Paparoa, Victoria and Brunner Ranges of the northern West Coast. Last year it took out an exploration permit over a 3634 hectare area in the Lyell Range north of the Buller River.

In its latest quarterly report it says the Lyell area contains approximately 2l historic mines with total underground production of 95,000 oz gold from structurally-controlled quartz veins in sediments.

Six target prospects have been field checked including Lyell, Mt. Radiant, Lake Stream, Farmer Creek, Cedar Creek and Donnelly's Creek.

The Auzex website says it is targeting gold, silver, molybdenum, bismuth, and tungsten at Lyell. The gold bearing quartz lodes were discovered and worked, or explored, over a strike length of five kilometers. The greatest producing mine on the Lyell Goldfield yielded 80,000 oz of gold at a grade of 16.8 g/t gold between 1874 and 1912. There has been no modern exploration at the Lyell prospect.

The March quarterly report says a highly anomalous area of significant tungsten mineralisation has been highlighted near the Kirwans-Reward area in PP 39271. Mapped geology reveals the two areas of north south trending quartz stock working containing visible scheelite.

The Auzex website says gold, tin and tungsten is the target for the Kirwans-Reward prospect.

Auzex also holds another prospecting permit surrounding Ross, south of Hokitika (PP39272) where it is targeting gold, silver, molybdenum, bismuth, tin and tungsten. The silver mineralisation once mined at the Mt Rangitoto mine is also associated with bismuth and gold, reportedly up to several ounces per tonne.