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Ausgold Drills Towards Resource Upgrade

THE DRILL SERGEANT: Ausgold Limited (ASX: AUC) is anticipating a Resource upgrade following recent drilling results received from the company’s 100 per cent-owned Katanning Gold Project (KGP) in Western Australia.

Ausgold has completed RC and diamond drilling at the KGP with a total of 31,050m of drilling undertaken within the KGP Central zone since a 2019 Resource update.

Recent drilling within the Jinkas, White Dam and Jinkas South lodes identified new areas of high-grade gold mineralisation within a broad zone of mineralisation consistent with the company’s new geological model.

This extensive zone of gold mineralisation occurs at the culmination of the Jinkas and White Dam lodes within the Jinkas South lode, a fold hinge zone.

New results include:

BSRC1076
29 metres at 1.23 grams per tonne gold from 86m, including 1m at 19.3g/t gold and 32m at 0.56g/t gold from 153m;

BSRC1102
9m at 2.83g/t gold from 197m, including 3m at 6.5g/t gold;

BSRC1075
11m at 1.11g/t gold from 88m; and

BSRC1082
17m at 1.11g/t gold from 145m, including 9m at 1.39g/t gold.

The upgraded Resource estimate due out shortly is confined to the 4.5km strike length of the Central Zone and includes new RC and diamond drilling that has identified zones of high-grade gold mineralisation within the three stacked Jinkas, White Dam and Jackson lodes.

This will be the first time the high-grade Jinkas South lode will be included along a 1.3km strike length.

The new Resource estimate will be completed using improved estimation techniques and new geological model that will better incorporate the high-grade gold mineralisation of the KGP.

“Our improved geological model led to the discovery of the Jinkas South lode where we have just completed a substantial 30,000 metres program of new drilling, focused on key Resource areas within the Central Zone,” Ausgold managing director Matthew Greentree said in the company’s ASX announcement.

“Results have consistently shown a broad zone of higher-grade gold mineralisation over 1.3 kilometres of strike length, which will feed into our Resource upgrade due out shortly.

“New RC and diamond drilling at Jinkas North and Olympia highlight the exploration potential to further add Resource ounces beyond the March 2021 Resource upgrade.
“The team has done an incredible job evolving our geological model which ultimately will unlock the full potential at Katanning.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@ausgoldlimited.com

 

Web: www.ausgoldlimited.com

 

 

Ausgold Granted Access to New KGP Drill Targets

THE DRILL SERGEANT: Ausgold (ASX: AUC) received an important access approval in relation to continued RC drilling at the company’s 100 per cent-owned Katanning Gold Project (KGP), located in Western Australia’s south-west Yilgarn Craton.

Ausgold has been given the nod the Department of Agriculture, Water and the Environment (DAWES) to conduct a 35-hole, 5,250m RC drill program within Rifle Range Reserve, an area containing over 2.5 kilokmetres of previously untested strike length, with new targets supported by coincident EM anomalies and gold-in-soils anomalies.

Drill targets are along the same geological trend as the company’s Jinkas Resource and immediately adjacent to the Dingo Resource area.

No previous exploration drilling has been conducted in this area.

“Drilling access to the Rifle Range Reserve has been eagerly anticipated and is highly significant as it allows us to finally start to develop an understanding of the true scale of the KGP gold mineralisation,” Ausgold managing director Matthew Greentree said in the company’s ASX announcement.

“The targets within this area have the potential to add material value to the project.

“The planned drilling provides a further test of our geological model, which has enabled better targeting of high-grade mineralisation within both the Jinkas and Jinkas South lodes and will be a feature of the upgraded KGP Resource due in March 2021.”

 

TO READ THE FULL ANOUNCEMENT: CLICK HERE

 

Email: info@ausgoldlimited.com

 

Web: www.ausgoldlimited.com

 

 

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:

BSRC1045
9 metres at 3.52 grams per tonne gold from 213m, including 3m at 9.43g/t gold;

BSRC1034
28m at 1.35g/t gold from 131m;

BSRC1046
14m at 1.45g/t gold from 100m, including 2m at 8.28g/t gold

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

BSRC1046
19m at 0.67g/t gold from 131m;

BSRC1024
37m at 0.86g/t gold from 150m, including 6m at 2.86g/t gold;

BSRC1033
42m at 0.73g/t gold from 119m, including 3m at 2.53g/t gold; and

BSRC1025
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.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@ausgoldlimited.com

 

Web: www.ausgoldlimited.com.au

 

 

Ausgold Expands Katanning Gold Project Resource Potential

THE DRILL SERGEANT: Ausgold Limited (ASX: AUC) reported results for recent reverse circulation (RC) drilling carried out at the Central Zone within the company’s 100 per cent-owned Katanning Gold Project in Western Australia.

Ausgold’s latest drilling campaign has extended the Jinkas South lode northward while demonstrating increasing width down dip from original high-grade intercepts.

Drilling at Jinkas South includes 11 holes targeting gold mineralisation north along strike from previously intercepted high-grade gold mineralisation.

Results include:

BSRC1002
19 metres at 2.92 grams per tonne gold from 121m, including 1mat 35.4g/t gold;

BSRC0993
29m at 1.84g/t gold from 104m including 18m at 2.72g/t gold;

BSRC1003
38m at 1.12g/t gold from 113m including 1m at 8.3g/t gold and 5m at 2.1g/t gold;

BSRC1007
7m at 4.09g/t gold from 111m including 1m at 24.9g/t gold;

BSRC0996
30m at 0.95g/t gold from 132m including 9m at 1.56g/t gold;

BSRC0994
19m at 1.02g/t gold from 114m including 5m at 2.65g/t gold;

BSRC0998
16m at 1.04g/t gold from 129m; and

BSRC0997
23m at 0.7g/t gold from 117m.

The new drilling at Jinkas South intersected a broad zone of gold mineralisation at a much higher grade than the overall Resource.

The drilling also extended high-grade gold mineralisation a further 100m north in BSRC0994, to a total strike length of over 700m north along strike.

“New drilling targeting the Jinkas South lode has further extended this zone of high-grade gold and is demonstrating increasing thickness of mineralisation along strike,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“This newly identified zone of higher grade gold mineralisation has potential to add significantly to the mineral Resource estimate planned for Q1 2021 and its geometry will further benefit the project economics.

“RC drilling at Jinkas South is continuing with results for 17 holes currently pending and drilling continues to extend this broad zone of gold mineralisation north and east of the current Resource.

“Recently completed geophysics programs, including detailed ground gravity surveys and downhole EM (DHEM) alongside RC drilling, continue to provide new targets for immediate drill testing within the Jinkas South and Jinkas North areas.

“Drilling is currently underway to further extend the Jinkas South lode which has been intersected over a 700 metres strike length, and drilling is also planned to test the Jinkas North areas.”

 

 

Email: info@ausgoldlimited.com

 

Web: www.ausgoldlimited.com

 

Ausgold Fills Coffers for Katanning Drill Push

THE BOURSE WHISPERER: Ausgold Limited (ASX: AUC) is well and truly cashed-up for drilling planned at the company’s 100 per cent- owned Katanning gold project in Western Australia.

Ausgold announced it had binding commitments from institutional and sophisticated investors for a share placement to raise just over $6.3 million to underpin an extensive exploration and Resource expansion drill program at it’s the Katanning gold project.

The raising included a $3 million cornerstone investment from Canadian resources investor, Dundee Goodman Merchant Partners.

The company indicated the proceeds will be used to accelerate Resource drilling within the Central Zone at the Katanning project, which currently boasts a JORC Resource of 1.2 million ounces of gold.

“We are pleased to welcome our new investors, including Dundee Goodman Merchant Partners (DGMP), as significant shareholders in Ausgold,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“Following the completion of a thorough due-diligence process, DGMP share our view of the significant potential of the Katanning gold project (KGP).

“The funds raised in this placement will be used to accelerate drill programs at the KGP, which are expected to add further high-grade Resource ounces and to advance high priority targets within the Company’s significant tenement position.

“The Mineral Resource at the KGP is currently 1.2 million ounces with clear extensions to mineralisation as demonstrated by the recent round of high-grade drill results which should add to the current gold Resource at Katanning and further improve the project economics.

“Further drilling is planned to target high-grade mineralisation down dip and north along strike where it remains open.

“With this new funding Ausgold will be expanding its current drill programs and we look forward to updating the market with further exploration success.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@ausgoldlimited.com

 

Web: www.ausgoldlimited.com

 

Ausgold Extends Jinkas South Lode Mineralisation

THE DRILL SERGEANT: Ausgold Limited (ASX: AUC) released results from the first six holes it has completed of a 21 hole program of reverse circulation (RC) drilling at the Central Zone within the company’s 100 per cent-owned Katanning gold project (KGP) in Western Australia.

Ausgold has utilised down hole electromagnetic (DHEM) and Moving Loop EM (MLEM) to target drilling locations along strike from areas of high-grade gold mineralisation previously intercepted at the project’s Jinkas South and Jinkas areas.

The latest results include:

BSRC0964
5 metres at 13.67 grams per tonne gold from 120m, including 1m at 65.8g/t gold

BSRC0963
39m at 1.32g/t gold from 96m, including 8m at 4.1g/t gold and 1m at 22.2g/t gold

BSRC0965
9m at 2.34g/t gold from 89m, including 5m at 3.95g/t gold
16m at 1.19g/t gold from 126m, including 2m at 4.31g/t gold

BSRC0966
6m at 2.81g/t gold from 78m
5mat 2.93g/t gold from 88m, including 1m at 8.75g/t gold

BSRC0961
1m at 16.8g/t gold from 141m

BSRC0962
6m at 1.41g/t gold from 79m

Ausgold indicated the new drill results have extended the zone of high-grade gold mineralisation to a total strike length of 580 metres north along strike from mineralisation intersected in previous drill programs.

The company said the results validate both the geological model it is using to predict the location of high-grade gold mineralisation and the effectiveness of the geophysics used to directly target this mineralisation.

The results also demonstrate potential for the Jinkas South lode to add substantial high-grade ounces to the existing 1.2 million ounce gold Resource at Katanning.

“We are pleased with the high-grade gold mineralisation intersected within the initial RC drilling results which significantly extend the Jinkas South lode to a strike length of over 580 metres,” Ausgold managing director Matthew Greentree said in the company’s announcement t the Australian Securities Exchange.

“The new drilling has validated the geological model and the initial DHEM targets, providing clear confirmation that the high-grade Jinkas South lode extends over a significant strike length and remains open along strike.

“This zone remains open with drilling underway to test three additional DHEM targets north of the currently identified Jinkas South mineralisation.

“The high-grade Jinkas South gold mineralisation has been now shown to extend north along strike and will add to the current 1.2 million ounce gold Resource at Katanning.

“The new drilling shows high-grade gold mineralisation extends well beyond that estimated in the current resource model.

“This will further expand the open pit Resource and further improve the project economics.

“Further drilling is planned to target high-grade mineralisation down dip and north along strike where it remains open, Ausgold is extending the coverage of DHEM to target this mineralisation.”

 

TO READ THE ANNOUNCEMENT IN FULL: CLICK HERE

 

Email: info@ausgoldlimited.com

 

Web: www.ausgoldlimited.com

 

Ausgold Commences EIS Co-Funded Drilling at Katanning

THE DRILL SERGEANT: Ausgold Limited (ASX: AUC) has kicked off a high impact RC (Reverse Circulation) drilling program at the company’s 100 per cent-owned Katanning gold project (KGP) in Western Australia.

Ausgold anticipates completion of the 21-hole RC program in June.

The new drilling will target down hole electromagnetic (DHEM) targets Ausgold has identified within the Central Zone at KGP located along strike from areas of high-grade gold mineralisation intercepted at the Jinkas South and Jinkas areas.

Previous drillin intersected high-grade gold mineralisation at Jinkas South over a 400m strike length and the upcoming RC drilling will test a further 400m along strike extending beyond the current Resource while extending towards the down dip position of the current Jinkas Resource.

Six holes are planned to target the down-dip portion of Jinkas where there is relatively limited past drilling.

At the Burong prospect a Western Australia Government Exploration Incentive Scheme (EIS) co-funded RC drill program will target a previously encountered broad zone of gold mineralisation.

The new RC drill program will target this high-grade mineralisation with a six-hole program, following which an aircore program will commence along the eastern extension of the Burong – Datatine trend.

Ausgold also received a further grant of $150,000 under the WA Government EIS round 21 that will fund RC and diamond drilling at Jinkas North to test the extensions of high-grade gold mineralisation north along strike from the Jinkas deposit.

Ten holes are planned along a trend that has been identified in recent drilling and ground gravity surveying.

The drill targets will test the northern extensions of Jinkas, which extends along an 850m strike from the main Jinkas deposit and within the gap in the current Resource located between the Olympia and Jinkas Resource areas.

“This new round of RC drilling follows up on targets identified in the recent rounds of drilling which have combined DHEM programs with recent drilling,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“The new EM targets have identified several potential strike extensions of the high grade Jinkas South lode which potentially extends for over one kilometre north beneath the current Jinkas Resource.

“These new targets have the potential to add high-grade ounces to the current the 1.2 million ounce gold Resource at Katanning.

“We are pleased to report that Ausgold has again been successful in our recent EIS grant application (Round 21), with a further validation of the innovative exploration we are undertaking at the KGP.

“Drilling funded by this latest EIS grant will help answer some key questions regarding the potential strike extent of high-grade gold mineralisation at the Jinkas deposit.

“The drilling has been designed to discover additional ounces by testing extensions of the Jinkas mineralisation at depth.

“In addition to the systemic drilling within the Resource areas Ausgold is exploring at the near regional Burong prospect, a newly identified structure seven kilometres from the main Resource.

“It is highly encouraging that all drill holes intercepted gold mineralisation in the last round of RC drilling with the highest-grade intercept of 1m at 6.47 grams per tonne gold at end of hole confirmed this area as a new discovery.

“The follow-up drill program at Burong is co-funded under the WA Government’s EIS scheme (Round 19) and new drilling along this trend has the potential to significant expand the project as a whole.”

 

Email: info@ausgoldlimited.com

Web: www.ausgoldlimited.com

 

Ausgold Intersects Burong Gold at KGP

THE DRILL SERGEANT: Ausgold Limited (ASX: AUC) has completed reconnaissance Reverse Circulation (RC) drilling to test two areas within the company’s 100 per cent-owned Katanning gold project (KGP) in Western Australia.

Ausgold drilled a maiden RC program of five shallow holes at the Burong prospect, located seven kilometres from the Central Zone Resource area at the KGP – partly funded by the WA Government Exploration Incentive Scheme (EIS) – to test bedrock gold mineralisation.

Results include:

BSRC0950
1 metre at 6.47 grams per tonne gold from 101m at the bottom of hole; and

BSRC0952
7m at 0.49g/t gold, including 1m at 1.49g/t gold from 125m.

Ausgold said the drilling at the Burong prospect has confirmed the regional potential surrounding the KGP.

The company now has soils sampling underway along this structure to target gold mineralisation along this newly defined mineralised trend.

Elsewhere, four RC holes were between the Jinkas and Olympia Resource areas that were designed to locate the northern extensions of Jinkas mineralisation, which is thought to be offset from the Jinkas Resource by faulting and has not been intersected in previous drilling.

The new drilling intersected gold mineralisation peripheral to the Jinkas lode for the first time within the Resource gap zone.

The best intercepts include:

BSRC0948
1m at 2.15g/t gold from 90m; and

BSRC0949
4m at 0.87g/t gold from 100m, including 1m at 2.8g/t gold.

Ausgold has interpreted these intersections as the up-dip portion of the Jinkas lode, extending the potential strike a further 400m north of the current Jinkas Resource.

Further drilling is anticipated and will target the high-grade extensions to the Jinkas deposit.

“Ausgold’s recent RC drilling at the Burong prospect has intersected bedrock gold mineralisation over 200 metres of strike length with the best result being 1 metre at 6.47 grams per tonne gold having been returned from the bottom of hole,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“Further RC drilling is planned targeting gold mineralisation within a package of mafic-ultramafic host rocks which extends at least 1.2 kilometres along strike.

“RC drilling within the Central Zone has intersected the northern portion of the Jinkas lode a further 400 metres north of the current Jinkas Resource.

“Future drilling is anticipated to target the high-grade extensions to the Jinkas mineralisation which are noted to the south and is expected to recommence as soon as practically possible.

“Currently, Ausgold is carrying out a soils sampling program along the Burong – Datatine structure which is clearly visible in aeromagnetics and ground gravity.

“This structure extends a further 10 kilometres eastward towards the Datatine Resource area.

“This newly identified mineralised trend has the potential to further expand the KGP’s current Mineral Resource and highlights the scale of gold mineralisation regionally.”

 

Email: info@ausgoldlimited.com

 

Web: www.ausgoldlimited.com

Ausgold Drills Extensions to Katanning Gold Resource

THE DRILL SERGEANT: Ausgold (ASX: AUC) released results of reverse circulation drilling (RC) carried out at the Central Zone within the company’s 100 per cent-owned Katanning gold project (KG”) in Western Australia.

Ausgold completed the drilling during February and March that consisted a program of 23 RC drill holes and downhole EM (DHEM) within the Central Zone, from which it has identified targets the company believes to have potential to add both grade and total ounces to the current KGP Mineral Resource.

The KPG Mineral Resource currently stands at 33.1 million tonnes at 1.1 grams per tonne gold for 1.2 million ounces of gold.

Drilling at Jinkas South targeted a broad zone of gold mineralisation extending down dip and south of the Jinkas Resource.

Intercepts from Jinkas South encountered broad zones of mineralisation extending beyond current Resource areas, including:

BSRC0918
13 metres at 1.11 grams per tonne gold 99m;
20m at 0.94g/t gold from 119m;

BSRC0927
17m at 1.03g/t gold from 93m;

These holes also hit zones of high-grade gold mineralisation of:

BSRC0918
1m at 11.2g/t gold from 142m;

BSRC0927
1m at 16.35g/t gold from 73m;

The latest drilling has extended the zone of high-grade gold mineralisation along a strike length of 400m and beyond what Ausgold had intersected in previous drill programs.

A program of DHEM surveys was conducted that developed new target plates that the company hopes to test with RC drilling in coming months.

Ausgold anticipates further drilling will extend mineralisation where it remains open along a strike length of over 400m.

Drilling carried out within the Central Zone, immediately west of the historical Jinkas pit, targeted near-surface gold mineralisation and intersected mineralisation along a strike length of 350m in an area which was previously untested.

The Central Zone drilling intersected near surface mineralisation, including:

BSRC0928
7m at 1.79g/t gold from 113m, including 1m at 9.33g/t gold from 118m;

BSRC0933
6m at 1.51g/t gold from 37m, including 3m at 2.63g/t gold;
4m at 1.06g/t gold from 111m;

BSRC0939
7m at 1.42g/t gold from 96m;
8m at 0.97g/t gold from 84m; and
1m at 4.98g/t gold.

“RC drilling within the Central Zone has intersected broad zones of gold mineralisation which extend beyond current Resource areas and will add further high-grade ounces to the current 1.2 million ounces gold Resource at Katanning,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“Drilling has been complemented with a program of DHEM, which is being used to target high-grade gold mineralisation.

“Newly identified high-grade gold mineralisation at Jinkas South has been intersected over a strike length of 400 metres and this zone remains open both down dip and along strike.

“Drilling adjacent to the historical Jinkas pit has intersected extensions of the White Dam and Jackson Resources which will add Resource ounces to the KGP.

“RC drilling program at nearby regional targets including Burong and Jinkas North have been completed with results anticipated to be released to the market in the coming weeks.

“These areas are located within five kilometres of the main Resource and have the potential to add to the current 1.2 million-ounce Resource.”

 

Email: info@ausgoldlimited.com

Web: www.ausgoldlimited.com

 

THE DAILY ROADHOUSE

 

De Grey Mining Extends Mineralisation at Hemi Gold Discovery

THE DRILL SERGEANT: De Grey Mining (ASX: DEG) reported encouraging signs from drilling underway at the recent Hemi discovery at the company’s Mallina gold project in Western Australia.

Ausgold in Heightened Drilling Mode at KGP

THE DRILL SERGEANT: Ausgold (ASX: AUC) reported on recent drilling activity at the company’s 100 per cent-owned Katanning gold project (KGP) in Western Australia.

Pantoro Eyes Mineralised Extensions to Norseman Deposits

THE DRILL SERGEANT: Pantoro (ASX: PNR) reported latest drilling results from the Scotia, Daisy South and Gladstone-Everlasting deposits at the company’s Norseman gold project in Western Australia.

Ardea Resources Defines Shallow, High-Grade Gold at Big Four Gold

THE DRILL SERGEANT: Ardea Resources (ASX: ARL) has completed an 11-hole RC drilling program at the historic Big Four gold mine, south of Goongarrie in Western Australia.

Black Cat Syndicate Relies More on Strategy Than Luck

THE CONFERENCE CALLER: All of the planets seem to be lining up for Black Cat Syndicate (ASX: BC8) as it prepares to make the transition from explorer to miner in one of Western Australia’s most overlooked gold districts. By Mark Fraser