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Ausgold Encounters High-Grade Gold at Jinkas South

THE DRILL SERGEANT: Ausgold (ASX: AUC) released results from recent reverse circulation (RC) drilling undertaken at the Jinkas South prospect, one of what the company considers to be many near-resource targets recently identified at its 100 per cent-owned Katanning gold project (KGP) in Western Australia.

Ausgold completed an additional eight RC holes at Jinkas South during March following up positive results from previous drilling seeking to expand the broad zone of gold mineralisation that company has identified at the prospect, which lies approximately 275m south along strike from the Jinkas deposit.

The eastern-most hole drilled in this program (BSRC0814) intersected a zone of high-grade gold mineralisation similar in width and grade to those found along the northern portion of the Jinkas Resource of 20.9 million tonnes at 1.17 grams per tonne gold for 785,000 ounces of gold.

Assays of hole BSRC0814 returned:

26 metres at 6.6g/t gold from 117m, including 4m at 37.19g/t gold from 119m; and

4m at 3.35g/t gold from 124m.

Ausgold said the recent drilling supports the company’s geological interpretations and provides potential for the extension of the Jinkas Resource further along strike to the south and down dip to the east.

“These RC results from Jinkas South highlight the exploration potential that exists relatively close to the Jinkas deposit and the Resource areas at the KGP,” Ausgold chief executive officer Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“The new drilling has shown the potential for the discovery of further high-grade mineralisation along strike and the down dip of the main Jinkas deposit.

“At Jinkas South there is 650 metres of potential strike length in addition to the existing 1,400 mertes strike length of the Jinkas resource.

“Such high-grade mineralisation has the potential to significantly increase the Resource base and grade of the KGP as a whole.”

 

Email: info@ausgoldlimited.com

Website: www.ausgoldlimited.com

 

Ausgold Intersects Southern Extension of Jinkas Deposit

THE DRILL SERGEANT: Ausgold (ASX: AUC) released results of reverse circulation (RC) drilling carried out on Jinkas South at the company’s 100 per cent-owned Katanning gold project (KGP) in Western Australia.

Ausgold said the RC drilling, completed 340 metres south along strike from the Jinkas Resource, has intersected a broad zone of gold mineralisation which remains untested for a further extension of 300m along strike.

The first eight RC holes drilled at Jinkas South – a recently identified trend south of the current Jinkas Resource – intersected a broad zone of gold mineralisation with intercepts including:

BSRC0759
10 metres at 2.09 grams per tonne gold from 84m, including 1m at 15.05g/t gold from 93m;

BSRC0761
7m at 2.09g/t gold from 69m, including 4m at 3.15g/t gold from 71m;

BSRC0763
8m at 2.01g/t gold from 96m, including 4m at 3.29g/t gold from 100m; and

BSRC0759
2m at 3.32g/t gold from 58m.

Ausgold commenced its RC drill program at the start of February, with 32 holes having been completed over the Jinkas South, Fraser, Lukin, Jackson and Olympia prospects.

The current round of RC drilling is testing targets identified during recent air core (AC) drilling and geophysical programs.

“RC drilling results from Jinkas highlight the progress we have made using systematic exploration and our improved geological understanding to underpin our work on this project,” Ausgold chief executive officer Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“The Jinkas South drilling has tested a relatively simple target along strike from known mineralisation and is one of many significant gaps which previous exploration drilling has failed to test.

“The large areas previously left untested by earlier exploration work have the potential to significantly increase the Resource base at the Katanning gold project.

“We plan to rapidly expand the KGP’s mineral inventory through these near-Resource additions as well as further discoveries elsewhere along the project’s currently identified 17 kilometre strike length.”

 

Email: info@ausgoldlimited.com

Website: www.ausgoldlimited.com

 

Ausgold Demonstrates Gold Mineralisation Continuity

THE DRILL SERGEANT: Ausgold (ASX: AUC) announced results of air core drilling (AC) at the company’s 100 per cent-owned Katanning gold project (KGP) in Western Australia’s south-west.

Ausgold said the 331-hole drilling campaign had demonstrated strong continuity of mineralisation within the central project area around existing Resources along three laterally extensive mineralised lodes.

21 AC holes were drilled 400 metres along strike from the Jinkas Resource, with 12 holes delivering intercepts greater than 0.1 grams per tonne gold.

A further 38 AC holes were drilled over a strike length of 2,600m to test the continuity of the mafic gneiss host rocks southeast from the Jinkas deposit, 18 of which returned anomalous gold grades over 0.1g/t gold, including intercepts of:

BSAC1778
10 metres at 0.34g/t gold from 16m; and

BSAC1781
19m at 0.15g/t gold from 0m.

At Devil’s Elbow, AC drilling starting 200m south along strike from the Lone Tree Resource delineated mineralisation a further 1,600m south, with gold anomalism intersected along strike from Lone Tree south to the Fraser prospect.

Ausgold claimed the drilling tested the contact between the footwall granite to the west and the prospective mafic granulite to the east along the 1,600m of strike length and the new results have confirmed the western portion of Fraser to be the strike continuation of the Jackson-Lone Tree trend, located structurally beneath and parallel to the White Dam-Fraser mineralisation.

Ausgold has previously encountered high-grade gold intercepts from wide-spaced AC drilling in the western Fraser prospect.

The company explained the latest drilling infilled this wide-spaced (100m by 100m) drilling to a spacing of 50m by 50m to provide better controls on mineralisation, which returned the following intercepts:

BSAC1831
16m at 0.16g/t gold from 16m;

BSAC1834
14m at 0.47g/t gold from 4m, including 1m at 1.13g/t gold from 17m;

BSAC1835
12m at 0.42g/t gold from 4m, including 4m at 1 .01g/t gold from 12m;

BSAC1837
16m at 0.38g/t gold from 0m; and

BSAC1838
16m at 0.17g/t gold from 12m.

“This latest round of air core drilling has provided valuable information which has proven the existence of mineralisation along three laterally continuous trends,” Ausgold chief executive officer Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“Using the results of the AC drill program, combined with the recently acquired ground geophysics, Ausgold has designed and commenced a significant reverse circulation drill program that has the potential to significantly grow the KGP’s mineral resources.”

Ausgold has commenced a reverse circulation drill program to test the targets generated by the AC drill program.

A ground gravity and Moving Loop Electromagnetic (MLEM) geophysics program has been completed and results are currently being processed.

 

Email: info@ausgoldlimited.com

Website: www.ausgoldlimited.com