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Ausgold Reveals Broad Gold Zones at Regional KPG Prospects

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THE DRILL SERGEANT: Ausgold (ASX: AUC) has widened the gold potential at the company’s 100 per cent-owned Katanning Gold Project (KGP) in Western Australia.

Ausgold reported that a recent Reverse Circulation (RC) drilling campaign at the KGP and surrounding 3,500 square kilometres tenement position that had been undertaken with three key objectives:

1) Close-spaced drilling to de-risk areas within the existing KGP mineral resource which are expected to comprise mining inventory in the early years of project operations;

2) Add to the existing resources at the KGP; and

3) Generate new gold mineralisation potential in the regional prospects surrounding the KGP.

The campaign consisted of 32 Reverse Circulation (RC) holes drilled across four key regional prospects along the Stanley Thrust – Zinger, Stanley Hill, Moulyinning and McDougalls.

“This drilling to establish the potential for regional satellite deposits represents the last piece of the puzzle in our current exploration campaign, with these assays from key prospects along the Stanley Thrust indicating an exciting opportunity to define a significant gold district surrounding the Katanning Gold Project,” Ausgold executive chairman John Dorward said in the company’s ASX announcement.

“The earlier phases of this drilling campaign – which comprised close-spaced drilling to increase confidence in the existing Resource and exploration drilling for Resource extensions – also returned positive results, further strengthening the robustness of this leading development project.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Ausgold to Conduct Major RC Drill Program at Katanning

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THE DRILL SERGEANT: Ausgold (ASX: AUC) is about to push the green button for a major new gold drilling program to be undertaken at the company’s 100 per cent-owned 3.04Moz Katanning Gold Project (KGP) in Western Australia.

Ausgold is scheduled to commence drilling of approx. 19,000 metres of Reverse Circulation drilling on the 3.04 million ounce Katanning Gold Project in October 2024.

RC drilling will commence with a planned 5,000m infill drilling program within the KGP Central Zone, designed to de-risk the first 18 months of the mine schedule.

A further 6,000m of RC drilling is planned across key target areas within the KGP with another 8,000m of exploration drilling planned to target high-priority prospects within Ausgold’s 4,300 square kilometres of SW Yilgarn tenure it considers to hold potential to host large gold systems.

The company is currently progressing a Definitive Feasibility Study (DFS) on the development of the KGP in parallel with regional exploration to unlock the potential of its tenure position in the Katanning Greenstone Belt, located in the historically underexplored and highly prospective south-west portion of the Yilgarn Craton.

“Ausgold is about to launch a substantial drilling campaign with the dual focus of de-risking the 3.04 million ounces Katanning Gold Project and building Resource potential regionally across our dominant tenure position,” Ausgold managing director Matthew Greentree said in the company’s ASX announcement.

“New drilling will focus on de-risking initial mining areas before moving on to target direct extensions to the KGP as well as greenstone belts along regionally significant structures, including targets along 130 kilometres of strike length along the Stanley Trend.

“The region is largely under-explored and the company sees clear opportunities to leverage its technical expertise and geological understanding to build a regional resource footprint alongside the growing resource base at the Katanning Gold Project, while maintaining its primary focus on developing a large-scale mining operation.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Ausgold Drills High-Grade Gold Results in New Zones at Katanning

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THE DRILL SERGEANT: Ausgold (ASX: AUC) reported initial results from a multi-rig drilling program it kicked off in December 2022 at the company’s 100 per cent-owned Katanning gold project (KGP) in Western Australia.

Ausgold declared the new drilling carried out at the Katanning Northern Zone identified high-grade mineralisation outside the current KGP 1.28 million ounces Ore Reserve, in particular high-grade mineralisation discovered in new zones at the Datatine prospect located five kilometres north of the main Katanning Resource.

Two initial diamond drill holes from the program intersected high-grade mineralisation with bonanza zones showing visible gold and grades up to 99 grams per tonne gold, including:

BSRCD1596
3.3 metres at 11.47 grams per tonne gold from 218.9m, including 0.3m at 99.3g/t Au and 0.3m at 13.2 g/t gold;

BSRCD1597
7.4m at 4.54g/t gold from 231.6m including 6.0m at 5.51g/t gold; and

BSRCD1596
2.7m at 10.73g/t gold from 180.2m including 0.4m at 63 g/t gold.

“High-grade mineralisation intersected in the Northern Zone at Datatine demonstrate the real scale potential at Katanning,” Ausgold managing director Matthew Greentree said in the company’s ASX announcement.

“Importantly, continued exploration success underpins the company’s recent decision to assess development options for a significantly larger gold operation than originally contemplated.

“These results confirm the discovery of new zones of high-grade gold mineralisation in the north, outside the current 1.28 million ounces Katanning Ore Reserve.

“Gold grades at Datatine appear likely to support both an open pit and an underground operation and could add valuable high-grade ounces to the operation.

“The early results from the 25,000 metres drilling program are very promising and only continue to reinforce our view that Katanning will only get larger.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Day One Announcements Set Tone for Successful RIU Explorers Conference

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THE CONFERENCE CALLER: There were plenty of ASX announcements from companies eager to attract attention of delegates to get things started on Day One of the RIU Explorers Conference.

 

Global Lithium Resources (ASX: GL1) reported the results of a Scoping Study carried out at the company’s Manna lithium project east of Kalgoorlie in Western Australia.

Global Lithium owns 100 per cent of the Manna lithium project that hosts a Total Mineral Resource Estimate (MRE) of 32.7 million tonnes at 1 per cent lithium oxide (Li2O), with 58 per cent in the Indicated category.

“The results of the Scoping Study show the true quality and real potential of the Manna lithium project,” Global Lithium managing director Ron Mitchell said.

“The exploration team worked extremely hard throughout 2022 to provide a solid foundation for the Manna lithium project.

“The development team will now diligently progress all the necessary technical components and engineering work streams to ensure the project is sufficiently de-risked allowing the company to progress to a final investment decision next year.”

 

READ MORE HERE

 

Cygnus Metals (ASX: CY5) announced assay results from the first two drill holes undertaken at the company’s Pontax lithium project in the James Bay region of Québec, Canada.

Results from the first two holes returned multiple intercepts including individual intersections of up to 16.5 metres at 1.1 per cent Li2O that are some of the thickest Cygnus has achieved to date, which it said highlights the scope for growth at Pontax.

“These are very strong results which demonstrate Pontax has both grade and width,” Cygnus Metals managing director David Southam said.

“Given that spodumene has already been outlined over a 700 metres strike length, the results highlight the significant potential for growth through systematic exploration.”

 

READ MORE HERE

 

Miramar Resources (ASX: M2R) declared results from analysis of end of hole samples from aircore drilling it believes to have increased the potential for the company’s 100 per cent-owned Whaleshark project to host iron oxide copper gold (IOCG) mineralisation.

End of hole (EOH) samples from the 2022 aircore drilling campaign were analysed for a multi-element suite, including IOCG pathfinders with one hole returning the highest copper and cobalt results Miramar has seen from Whaleshark to date.

“At Whaleshark, we have the right aged rocks, the right style of alteration and the right combination of elements typically associated with IOCG mineralisation,” Miramar Resources executive chairman Allan Kelly said.

“As we continue to explore the project, we see more similarities with the signatures of various large IOCG deposits.”

 

READ MORE HERE

 

Ausgold (ASX: AUC) informed punters of initial results from a multi-rig drilling program it commenced in December 2022 at the company’s 100 per cent-owned 2.16 million ounces Katanning gold project (KGP) in Western Australia.

The company received initial program results for reverse circulation (RC) drilling (55 holes for 4,763m) it declared to demonstrate the presence of new high-grade zones of mineralisation along strike from and within the projects’ Central Zone and Southern Zone Resource areas.

“High-grade results from new drilling highlights the strong case for the Katanning gold project to be a much larger project,” Ausgold managing director Matthew Greentree said.

“The 25,000 metres drilling program is testing areas along strike from known Resource areas.

“With the majority of the program still underway, these early results anticipate further discoveries to extend Resource areas and expand targeted opportunities regionally at the Duggan, Stanley and Lake Magenta prospects.”

 

READ MORE HERE

 

Ausgold Extends KGP Gold Mineralisation 900m

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THE DRILL SERGEANT: A week out from the 2022 RIU Explorers Conference Ausgold (ASX: AUC) announced extension to gold mineralisation at the company’s 100 per cent-owned Katanning Gold Project (KGP) in Western Australia.

Ausgold is advancing multi-rig drilling campaign focused on high value targets it has identified in the Central and Southern Zones with RC and diamond drilling having been completed to date within both areas.

Recent drilling has extended gold mineralisation 900 metres south beyond the existing Resource with near surface intersects including:

BSRC1312
9 metres at 2.34 grams per tonne gold from 63m, including 3m at 6.23g/t gold from 69m;

BSRC1248
5m at 2.88g/t gold from 37m;

BSRC1299
3m at 2.48g/t gold from 30m; and

BSRC1268
5m at 1.58g/t gold from 39m.

Other results from the Dingo area have also highlighted high-grade Resource extension opportunities to the south beyond the existing Southern Zone Resource.

These results include:

BSDD033
21m at 2.11g/t gold from 61.08m, including 4.81m at 6.33g/t gold and 2.56m at 3.57g/t gold; and

BSRC1312
9m at 2.34g/t gold from 63m, including 3m at 6.23g/t gold from 69m.

“New drilling has intercepted gold mineralisation along a further 900 metres which is well beyond the current Resource areas within the Southern Zone,” Ausgold managing director Matthew Greentree said in the company’s ASX announcement.

“This new drilling will form part of a significant Resource upgrade now planned for Q2 CY2022.

“The new RC and diamond drilling at Dingo highlights potential to further add Resource ounces and scale to the KGP as we target completion of Prefeasibility Studies.

“The drilling program is moving ahead on schedule and will now target southern extensions of the existing Resource boundary to the south towards Lukin, which opens up an additional five kilometres strike length based on results from past reconnaissance drilling.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@ausgoldlimited.com

 

Web: www.ausgoldlimited.com

 

Ausgold Encounters High-Grade Gold at Jinkas South

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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

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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

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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