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Austral Resources Australia Ltd (ASX:AR1)

ALERT: Price-sensitive ASX Announcement for AR1
Current share price for AR1 : $0.071 0.026 (57.78%)+
Announcement
Release
17 Dec 2025 8:42AM
Price at Release
$0.045
Full Release
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Summary
Austral Resources Australia Ltd has been granted the Exploration Permit for Minerals (EPM) 28881, known as 'Canyon', adjacent to its Mt Kelly and McLeod Hill Mining Leases in Queensland, Australia. This new EPM covers a 6km corridor with significant copper oxide mineralisation potential. The strategic location allows Austral to expand exploration activities near existing infrastructure, potentially enhancing future copper oxide mining operations. A drilling program is planned for 2026 to test priority oxide targets and integrate them into future mining plans. The Canyon EPM opportunity is seen as a major step in Austral's growth strategy to consolidate resources and extend mine life in the Mount Isa region.
Key Points
  • EPM 28881 ('Canyon') granted adjacent to Mt Kelly and McLeod Hill.
  • 6km copper corridor identified with strong surface copper anomalies.
  • Planned 2026 drilling to test and integrate new oxide targets.
  • Canyon EPM provides strategic expansion near existing facilities.
  • Austral focuses on extending life of mine and increasing resource base.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.