Ausgold claims new gold discovery at Katanning Project

THE DRILL SERGEANT: Ausgold (ASX: AUC) has claimed a new gold discovery at the company’s 100 per cent-owned Katanning gold project (KGP) in Western Australia.

The announcement follows the receipt of the first batch of assay results from a recent AC drilling program carried out at the Datatine prospect, located north of the Jinkas open pit at the KGP.

A total of 112 AC holes were drilled to test a one square kilometre coherent gold anomaly defined from surface soil geochemistry, which is coincident with a structural target identified by geophysical data.

Highlights from the results include:

BSAC1343
22 metres at 3.67 grams per tonne gold from 4m to the end of hole, including 4m at 16.9g/t gold from 4m;

BSAC1344
17m at 1g/t gold from 16m to the end of hole;

BSAC1340
18m at 0.86g/t gold from 0m to the end of hole, including 4m at 3.41g/t gold from 8m;

BSAC1341
18m at 0.44g/t gold from 0m to the end of hole, including 1m at 5.67g/t gold from 17m; and

BSAC1342
12m at 0.71g/t gold from 12m to the end of hole, including 1m at 3g/t gold from 23m.

“The ore-grade tenor of results delivered from this potential new discovery at Datatine is impressive and is a direct result of the application of our new exploration model,” Ausgold geology manager Melanie Sutterby said in the company’s announcement to the Australian Securities Exchange.

“We have now successfully demonstrated the potential for further discoveries in the KGP region; the implication in terms of exploration across Ausgold’s tenure is considerable.

“The new results confirm the scope for major new discoveries in the Katanning region amongst a growing portfolio of regional and near mine targets in the company’s under-explored ground position.

“Ausgold’s perseverance and tenacity has resulted in an excellent outcome for our shareholders and we look forward to continuing successful drilling at Datatine and other prospects at the KGP.”

Email: info@ausgoldlimited.com

Website: www.ausgoldlimited.com