Ausgold Expands Katanning Gold Project Resource Potential

THE DRILL SERGEANT: Ausgold Limited (ASX: AUC) reported results for recent reverse circulation (RC) drilling carried out at the Central Zone within the company’s 100 per cent-owned Katanning Gold Project in Western Australia.

Ausgold’s latest drilling campaign has extended the Jinkas South lode northward while demonstrating increasing width down dip from original high-grade intercepts.

Drilling at Jinkas South includes 11 holes targeting gold mineralisation north along strike from previously intercepted high-grade gold mineralisation.

Results include:

19 metres at 2.92 grams per tonne gold from 121m, including 1mat 35.4g/t gold;

29m at 1.84g/t gold from 104m including 18m at 2.72g/t gold;

38m at 1.12g/t gold from 113m including 1m at 8.3g/t gold and 5m at 2.1g/t gold;

7m at 4.09g/t gold from 111m including 1m at 24.9g/t gold;

30m at 0.95g/t gold from 132m including 9m at 1.56g/t gold;

19m at 1.02g/t gold from 114m including 5m at 2.65g/t gold;

16m at 1.04g/t gold from 129m; and

23m at 0.7g/t gold from 117m.

The new drilling at Jinkas South intersected a broad zone of gold mineralisation at a much higher grade than the overall Resource.

The drilling also extended high-grade gold mineralisation a further 100m north in BSRC0994, to a total strike length of over 700m north along strike.

“New drilling targeting the Jinkas South lode has further extended this zone of high-grade gold and is demonstrating increasing thickness of mineralisation along strike,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“This newly identified zone of higher grade gold mineralisation has potential to add significantly to the mineral Resource estimate planned for Q1 2021 and its geometry will further benefit the project economics.

“RC drilling at Jinkas South is continuing with results for 17 holes currently pending and drilling continues to extend this broad zone of gold mineralisation north and east of the current Resource.

“Recently completed geophysics programs, including detailed ground gravity surveys and downhole EM (DHEM) alongside RC drilling, continue to provide new targets for immediate drill testing within the Jinkas South and Jinkas North areas.

“Drilling is currently underway to further extend the Jinkas South lode which has been intersected over a 700 metres strike length, and drilling is also planned to test the Jinkas North areas.”