Ausgold Intercepts New Central Zone High-Grade Gold
THE DRILL SERGEANT: Ausgold (ASX: AUC) provided an update of exploration activities at the company’s 100 per cent-owned Katanning Gold Project (KGP) in Western Australia.
Ausgold is currently advancing a multi-rig drill program at Katanning focused on high value targets it has identified in the Central and Southern Zones.
A total of 17,631m of RC and diamond drilling has now been completed with new drilling within the Central Zone targeting the near surface gold mineralisation within the Jackson and White Dam lodes with results including:
BSRC1285
6 metres at 4.79 grams per tonne gold from 48m, including 3m at 9.08g/t gold;
BSRC1349
4m at 5.47 g/t gold from 42m; and
BSRC1334
5m at 3.43 g/t gold from 23m.
“We are now over halfway into our 30,000 metres campaign, with these results from new drilling intercepting near surface gold mineralisation which is higher-grade than previously reported in the current Resource,” Ausgold managing director Matthew Greentree said in the company’s ASX announcement.
“Drilling in the Jackson and White Dam lodes has targeted a number of gaps in the current Resource drilling which included the old tailings dam and the southern portion of the Jackson area historically seeing only wide spaced drilling.
“These higher-grade results will feed into a further Resource upgrade now planned for Q2 CY2022 and will increase the proportion of Measured and Indicated Resource in this new model.
“The position along the footwall of the Central Zone will also add further potential Reserves for the KGP.
“The drilling program is moving ahead and continues to target key areas within the Central and Southern Zone as we progress towards the planned April Resource upgrade and the Maiden Reserve in June following the completion of Prefeasibility Studies.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: info@ausgoldlimited.com
