Ausgold Drills High-Grade Gold Results in New Zones at Katanning

THE DRILL SERGEANT: Ausgold (ASX: AUC) reported initial results from a multi-rig drilling program it kicked off in December 2022 at the company’s 100 per cent-owned Katanning gold project (KGP) in Western Australia.

Ausgold declared the new drilling carried out at the Katanning Northern Zone identified high-grade mineralisation outside the current KGP 1.28 million ounces Ore Reserve, in particular high-grade mineralisation discovered in new zones at the Datatine prospect located five kilometres north of the main Katanning Resource.

Two initial diamond drill holes from the program intersected high-grade mineralisation with bonanza zones showing visible gold and grades up to 99 grams per tonne gold, including:

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3.3 metres at 11.47 grams per tonne gold from 218.9m, including 0.3m at 99.3g/t Au and 0.3m at 13.2 g/t gold;

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7.4m at 4.54g/t gold from 231.6m including 6.0m at 5.51g/t gold; and

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2.7m at 10.73g/t gold from 180.2m including 0.4m at 63 g/t gold.

“High-grade mineralisation intersected in the Northern Zone at Datatine demonstrate the real scale potential at Katanning,” Ausgold managing director Matthew Greentree said in the company’s ASX announcement.

“Importantly, continued exploration success underpins the company’s recent decision to assess development options for a significantly larger gold operation than originally contemplated.

“These results confirm the discovery of new zones of high-grade gold mineralisation in the north, outside the current 1.28 million ounces Katanning Ore Reserve.

“Gold grades at Datatine appear likely to support both an open pit and an underground operation and could add valuable high-grade ounces to the operation.

“The early results from the 25,000 metres drilling program are very promising and only continue to reinforce our view that Katanning will only get larger.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE