Ausgold confirms extensive high grades at Katanning Gold Project
THE DRILL SERGEANT: Ausgold (ASX: AUC) has received final assay results from recent RC drilling carried out at the company’s 100 per cent-owned Katanning Gold Project (KGP) in Western Australia.
Ausgold completed an RC program comprising seven drill holes targeting the White Dam deposit, two holes targeting the Jinkas deposit, and two holes drilled at each of the Jackson and Lone Tree deposits.
The company explained the RC drilling aimed to assess the presence and down plunge continuity of high-grade shoots at the White Dam and Jackson deposits.
Assay results have confirmed high-grades at the White Dam deposit with best intersections including:
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9 metres at 8.15 grams per tonne gold from 145m, including 5m at 14.25g/t gold from 145m;
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5m at 4.44g/t gold from 148m; and
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2m at 20.49g/t gold from 163m.
Ausgold said the drilling fulfilled the key aims of the program, with assay results and observations supporting the predictive nature of the exploration model.
“Following a detailed technical review resulting in a new interpretation of structural controls on high-grade shoots observed in deposits at the KGP, the recent drilling program at White Dam and Jackson was designed to test the validity of our exploration model,” Ausgold geology manager Melanie Sutterby said in the company’s announcement to the Australian Securities Exchange.
“Excellent results have validated the exploration model and confirmed that White Dam and Jackson have wide, diffuse gold mineralised halos that contain high-grade, pipe-like shoots with limits that are yet to be defined.
“The implications in terms of the potential for new discovery by applying the exploration model regionally, as well as the opportunity for growth of our existing Mineral Resources and the delineation of further high-grade shoots, is significant.
“With further drilling and geophysical work our confidence in the potential of the project will be continually enhanced and affirms Ausgold’s commitment to enhancing the economic viability of the KGP.”
Email: info@ausgoldlimited.com
Website: www.ausgoldlimited.com