Ausgold Hits 1.3km Gold Strike at Jinkas South

THE DRILL SERGEANT: Ausgold Limited (ASX: AUC) reported new gold intersections from recent reverse circulation (RC) drilling undertaken at the Jinkas South lode within the company’s 100 per cent-owned Katanning Gold Project (KGP) in Western Australia.

Ausgold completed 30 holes at the Jinkas South lode recording intersections of gold mineralisation north along strike a further 600 metres from previously high-grade gold mineralisation.

Th e company declared this new drilling has shown that the Jinkas South lode to now boast a total strike length of 1.3 kilometres.

Results from drilling at Jinkas South lode include:

9 metres at 3.52 grams per tonne gold from 213m, including 3m at 9.43g/t gold;

28m at 1.35g/t gold from 131m;

14m at 1.45g/t gold from 100m, including 2m at 8.28g/t gold

4m at 2.66g/t gold from 124m;

19m at 0.67g/t gold from 131m;

37m at 0.86g/t gold from 150m, including 6m at 2.86g/t gold;

42m at 0.73g/t gold from 119m, including 3m at 2.53g/t gold; and

24m at 0.83g/t gold from 114m.

“The Jinkas South lode is proving to be a significant addition to the project with grades significantly higher than the current Resource extending over 1.3 kilometres,” Ausgold managing director Matthew Greentree said in the company’s ASX announcement.

“This new drilling provides further confirmation of our geological model which has enabled better targeting of high-grade mineralisation within both the Jinkas and parallel Jinkas South lodes.

“This new drilling significantly extends the high-grade gold mineralisation within the Jinkas South lode, which we anticipate will further add to the Resource upgrade planned for Q1 2021 and benefit the projects economics.

“The 25,000 metres RC drill program at the KGP continues, with results for 31 holes for 3,055 metres drilled within the Central Zone currently in the laboratory pending analysis.

“An additional 2,200 metres program of RC and diamond drilling has commenced at Jinkas North as part of an Exploration Incentive Scheme (EIS) co-funded drilling grant to Ausgold.

“Jinkas North represents an area which is currently undrilled over a strike length of 850 metres.

“New targets derived from detailed geophysics data have shown potential extensions to the Jinkas and Jinkas South lodes.

“A DHEM program is underway alongside RC drilling and will provide new targets for immediate drill testing within the Jinkas South and Jinkas North areas.”