Ausgold Gold Intercepts Further Expand KGP Potential
THE DRILL SERGEANT: Ausgold (ASX: AUC) announced new gold hits from the company’s 100 per cent-owned Katanning Gold Project (KGP) in Western Australia.
Ausgold’s latest drilling results follow the recent release of a Pre-feasibility Study (PFS) which demonstrated strong economics for the KGP that was backed up by a maiden 1.28 million ounce Ore Reserve.
The company explained the new drilling at the KGP is designed to add to the near-surface Resource and further expand the scale of the current Ore Reserve.
Reverse circulation (RC) drilling of 41 holes targeted gold mineralisation within the KGP that intercepted several zones of gold mineralisation both at depth and near-surface.
High-grade extensions to the Jinkas lode identified further potential beneath the current optimised pits, with drill results including:
BSRC1535
4m at 17.05 grams per tonne gold from 207m, including 2m at 33.86g/t gold from 208m; and
BSRC1537
7m at 6.99g/t gold from 133m including 2m at 23.3g/t gold from 133m.
The company expects near-surface mineralisation intercepted within the Central Zone will extend beyond the current Resource adding high-grade mineralisation within multiple zones of gold mineralisation.
Results include:
BSRC1473
8m at 2.04g/t gold from 8m, including 5m at 2.96g/t gold from 10m; (Jackson)
BSRC1476
5m at 2.98g/t gold from 31m, including 2m at 6.82g/t gold from 34m; (Jackson)
BSRC1531
8m at 1.83g/t gold from 31m, including 2m at 6.26g/t gold from 37m; (Jinkas)
BSRC1473
5m at 2.59g/t gold from 36m, including 3m at 3.8g/t gold from 38m; and (Jackson)
BSRC1521
8m at 1.5g/t gold from 92m, including 2m at 4.33g/t gold from 96m (White Dam)
“Ausgold is clearly demonstrating the potential of the Katanning Gold Project with the recent PFS delivering a large 1.28 million ounces Ore Reserve and these high-grade results from new drilling,” Ausgold managing director Matthew Greentree said in the company’s ASX announcement.
“It is pleasing to continue this momentum with near surface high-grade gold intersected as well as expanding the depth potential which remains open.
“Both add to the significant multi-million-ounce Resource potential of the project.
“The KGP is now shaping up to be one of the largest free-milling undeveloped gold projects in Western Australia.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: info@ausgoldlimited.com
