Ausgold confirms high-grade gold extension at Katanning Gold Project

THE DRILL SERGEANT: Ausgold (ASX: AUC) has completed a round of Reverse Circulation (RC) drilling at the company’s wholly-owned Katanning gold project (KGP), southeast of Perth in Western Australia.

Ausgold has received the first batch of laboratory results, which has indicated high-grade gold has been intersected at White Dam, which the company said had confirmed the extension of mineralisation at depth.

According to Ausgold the new results increase its confidence in the predicted high-grade zones while demonstrating potential to increase the size of the White Dam deposit.

Intersections achieved by the recent drilling include:

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9 metres at 8.15 grams per tonne gold from 145m, including 4m at 14.25g/t gold from 145m; and

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5m at 4.44g/t gold from 148m.

Ausgold anticipates the results will extend the current boundaries of the Mineral Resource as well as increase the company’s confidence of the current geological model.

“The results of this program mark a significant milestone in the development of the KGP with the practical application of a new exploration model to target high grade gold and new discoveries,” Ausgold said in its ASX announcement.

“The intersection of mineralisation at depth and down plunge at White Dam demonstrates that the exploration model applied is sound and that Ausgold can confidently advance further drilling programs at the KGP.”

Email: info@ausgoldlimited.com

Website: www.ausgoldlimited.com