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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 

 

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.

Ausgold recently conducted a program of regional exploration aircore drilling on the Burong prospect the included 156 holes for 4,366 metres on wide-spaced centres (40m x 80m and 60m x 160m).

The main focus of this drilling was at Burong, which is located seven kilometres from the Central Zone Resource area at the KGP.

The AC drilling at Burong identified a new mineralised trend with a coherent gold anomaly extending over a 1.2km strike length.

The company explained this gold anomaly is closely associated with sulphidic mafic and ultramafic granulites, which have previously been interpreted to host gold mineralisation at the KGP deposit.

This new mineralised trend remains open along strike and is parallel to a major regional fault which extends eastward towards the Datatine Resource.

Other recent work undertaken by Ausgold includes a 4,000m RC drill program that is currently underway, having already drilled approximately 1,400m within the Central Zone targeting high-grade gold mineralisation using the results of a recently completed Downhole Electromagnetic (DHEM) survey.

Ausgold has further drilling planned for Jinkas South, Jinkas and Jinkas North, enabling direct targeting of sulphide rich high-grade gold mineralisation, where it recently encountered strong intercepts.

The company intends following up the recent AC drilling with RC and diamond drilling at Burong and Nanicup Bridge, which will be co-funded up to $150,000 by the Western Australian Exploration Incentive Scheme (EIS).

“Ausgold’s exploration drilling at its 100 per cent-owned Katanning Gold Project continues its two-pronged approach, which includes both near regional exploration at the Burong prospect and RC drilling targeting high-grade gold mineralisation within the Jinkas South area,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“Recent AC drilling at Burong has intersected a large zone of gold mineralisation associated with a package of highly prospective mafic-ultramafic host rocks.

“Drilling has intersected mineralisation over a strike length 1.2 kilometres, which is open for a further 10 kilometres, extending eastward towards the Datatine Resource area.

“This newly identified mineralisation area has potential to expand the KGP’s current Mineral Resource.

“Further near Resource exploration is also underway with a DHEM program being completed and RC drilling commenced within the Central Zone.

“The new EM anomalies provide clear targets which in the past have corresponded to high-grade zones of gold mineralisation.”

 

Email: info@ausgoldlimited.com

Web: www.ausgoldlimited.com

 

THE DAILY ROADHOUSE

 

Ausgold Intersects Further High-Grades at Katanning

THE DRILL SERGEANT: Ausgold Limited (ASX: AUC) released the latest drilling results achieved at the Central Zone within the company’s 100 per cent-owned Katanning gold project (KGP) in Western Australia.

Matsa Resources Encounters Gold in New Olympic Target

THE DRILL SERGEANT: Matsa Resources (ASX: MAT) released further results from its December 2019 RC drilling program, which was designed to test a number of exploration targets close to the company’s Red October gold mine in Western Australia.

Pantoro Releases Additional Daisy South and Gladstone-Everlasting Results

THE DRILL SERGEANT: Pantoro Limited (ASX: PNR) released additional drilling results from the Daisy South and Gladstone-Everlasting deposits at the company’s 50 per cent-owned Norseman project in Western Australia.

Southern Gold Confirms Deokon Mineralisation

THE DRILL SERGEANT: Southern Gold (ASX: SAU) announced assays for a maiden diamond drilling program undertaken at the company’s Deokon project in South Korea.

 

Ausgold Intersects Further High-Grades at Katanning

THE DRILL SERGEANT: Ausgold Limited (ASX: AUC) released the latest drilling results achieved at the Central Zone within the company’s 100 per cent-owned Katanning gold project (KGP) in Western Australia.

Ausgold completed a program of RC drilling in December 2019 within the Central Zone targeting extensions of previously identified high-grade gold mineralisation at the Jinkas South and Jackson deposits.

The company believes high-grade mineralisation in both areas has the potential to add both grade and total ounces to the KGP Mineral Resource, which currently stands at 33.1 million tonnes at 1.1 grams per tonne gold for 1.2 million ounces of gold.

Most of the December drill program was conducted at Jinkas South targeting high-grade gold mineralisation.

The drilling intersected several broad zones of gold mineralisation which show continuity along 400 metres of strike length, including:

BSRC0916
12 metres at 3.52 grams per tonne gold from 120m, including 3m at 9.64g/t gold;

BSRC0916
1m at 5g/t gold from 54m and 1m at 9.81g/t gold from 117m;

BSRC0914
18m at 0.97g/t gold from 120m including 1m at 10.25g/t gold from 123m;

BSRC0918
20m at 0.94g/t gold from 119m and 1m at 11.2g/t gold from 142m;

BSRC0918
13m at 1.11g/t gold from 99m including 2m at 2.18g/t gold from 107m;

BSRC0909
22m at 0.85g/t gold from 132m; and

BSRC0910
23m at 0.8g/t gold from 126m.

Ausgold said the he recent drilling at Jinkas South had better delineated the high-grade mineralisation in south-eastern portion of the defined Resource.

The company indicated its ongoing work on the geology of the Jinkas South area is focusing on the key host rock associations and the accompanying alteration zones, which primarily contain pyrrhotite and biotite (potassic) alteration, as well as strike slip faults in the area.

“Following the recent capital raise Ausgold is now well funded to conduct a significant exploration program at Katanning,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“The initial results from RC drilling within the Central Zone have validated new geological concepts which have the potential to significantly extend Resource areas and to add high-grade ounces to the current 1.2-million-ounce gold Resource at Katanning, as well as extending high-grade mineralisation outside of current optimised pit shells.

“Further work is currently being undertaken to better delineate high-grade gold mineralisation down dip and along strike from the Jinkas trend.

“This high-grade gold mineralisation, down dip and east of the current Resource, has been intersected over 400 metres and remains open both down dip and along strike.

“In addition to the near-Resource drilling, Ausgold is targeting mineralisation in nearby regional identified areas such as the Burong and Cleggs Bend prospects.

“These areas are located within five kilometres of the main Resource and have potential for the discovery of significant new gold mineralisation.”

Ausgold has commenced a 4,500m aircore drill program to test regional targets at the above mentioned Burong and Cleggs Bend prospects.

The company has commenced planning for a high-impact RC drill program in February 2020 within the Central Zone, targeting high-grade gold mineralisation.

This will be followed by RC drilling of regional targets, including Burong and Nanicup Bridge prospects, which is to be partially funded by the WA Government Exploration Incentive Scheme.

Additional field work is being completed within the regional KGP, which includes mapping, reconnaissance rock chip sampling and auger programmes being conducted over six prospects.

 

Email: info@ausgoldlimited.com

Web: www.ausgoldlimited.com

 

THE DAILY ROADHOUSE

 

Breaker Resources Launches Bombora Drill Campaign

THE DRILL SERGEANT: Breaker Resources (ASX: BRB) has commenced a major reverse circulation (RC) and diamond drilling program designed to grow the one million-ounce Bombora Resource within the company’s Lake Roe gold project, east of Kalgoorlie in Western Australia.

Ausgold Commences RC Drilling at Katanning

THE DRILL SERGEANT: Ausgold Limited (ASX: AUC) is spending its recently-raised $2.4 million on an exploration drilling program at the company’s 100 per cent-owned Katanning gold project in Western Australia.

Auroch Minerals Historic Review Highlights Nickel Potential

THE DRILL SERGEANT: Auroch Minerals (ASX: AOU) completed a review of historic data that it claims has confirmed thick high-grade massive nickel sulphide mineralisation at the company’s recently-acquired Leinster project in Western Australia.

Marenica Energy Widens Koppies 2 Palaeochannel

THE DRILL SERGEANT: Marenica Energy (ASX: MEY) has completed a Phase 3 reverse circulation (RC) drilling program to extend the width of the palaeochannel on the company’s Koppies tenement in Namibia, Africa.

Renascor Resources to Raise $1.4 Million to Advance Siviour Development

THE BOURSE WHISPERER: Renascor Resources (ASX: RNU) has received firm commitments to raise $1.4 million to fund the advancement of the company’s Siviour graphite project near the coast of South Australia’s Eyre Peninsula.

Ausgold Commences RC Drilling at Katanning

THE DRILL SERGEANT: Ausgold Limited (ASX: AUC) is spending its recently-raised $2.4 million on an exploration drilling program at the company’s 100 per cent-owned Katanning gold project in Western Australia.

Ausgold has kicked off the program with the drilling of 20 Reverse Circulation (RC) holes for 2,500m, which it expects to be completed during December.

The new drilling within the Central Zone will target extensions to recently identified high-grade gold mineralisation intercepted at the Jinkas South and Jackson areas.

High-grade gold mineralisation was intersected at Jinkas South by previous drilling beyond the limits of the current Resource.

The Jackson area is located at the north western portion of the Central Zone and has also ceded high-grade intercepts in earlier campaigns.

“Following the recent announcement of the receipt of binding commitments for $2.4 million to institutional and sophisticated investors, Ausgold is immediately commencing an RC drill program which targets high-grade mineralisation within the Central Zone,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“This round of drilling will test new geological concepts which aim to extend high-grade mineralisation with the potential to add high-grade ounces to the current the 1.2 million ounce gold Resource at Katanning.

“The results of this initial drill program will be used to prioritise targets for a larger drill program planned in 2020.

“In addition to these near Resource targets, Ausgold is targeting mineralisation in nearby identified areas such as the Burong and Cleggs Bend prospects, which are located within five kilometres of the main Resource.

“This suggests there is potential for significant further gold Resources to be discovered.

“We’re looking forward to updating the market in the coming weeks with the results.”

 

Email: info@ausgoldlimited.com

Web: www.ausgoldlimited.com