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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

 

THE DAILY ROADHOUSE

 

Musgrave Minerals Intersects High-Grade Link Lode at Break of Day

THE DRILL SERGEANT: Musgrave Minerals (ASX: MGV) reported the intersection of high-grade gold in a ‘link’ position joining the two main gold lodes at the Break of Day deposit on the company’s Cue gold project in Western Australia.

Carawine Resources Identifies New Victorian Porphyry Copper-Gold Targets

THE DRILL SERGEANT: Carawine Resources (ASX: CWX) announced geophysical results from a detailed helicopter-borne magnetic and radiometric (heli-mag) geophysical survey completed at the company’s 100 per cent-owned Jamieson project in northeast Victoria, host to the Hill 800 and Rhyolite Creek prospects.

Alicanto Minerals Completes Geophyisal IP Survey at Wolf Mountain

THE DRILL SERGEANT: Alicanto Minerals (ASX: AQI) completed its maiden IP survey at the company’s Wolf Mountain copper-gold target area within the Bergslagen district of Southern Sweden.

Ausgold Raising up to $3.6 Million for Katanning Gold Project

THE BOURSE WHISPERER: Ausgold Limited (ASX: AUC) informed the market it has received binding commitments from institutional and sophisticated investors for a share placement to raise $2.376 million.

 

Ausgold Raising up to $3.6 Million for Katanning Gold Project

THE BOURSE WHISPERER: Ausgold Limited (ASX: AUC) informed the market it has received binding commitments from institutional and sophisticated investors for a share placement to raise $2.376 million.

Ausgold indicated it will also be conducting a Share Purchase Plan (SPP) to existing eligible shareholders.

Under the Placement, the company will issue a total of 198 million shares at an issue price of 1.2 cents per share.

Proceeds from the Capital Raising are earmarked for accelerated exploration at the company’s Katanning gold project (KGP), financing an exploration drilling campaign designed to target further high-grade mineralisation within the Central Zone at KGP, the completion of metallurgical test work and to provide additional working capital.

The company indicated the planned drilling program will target Resource extensions including the following recent intercepts of:

26 metres at 6.6 grams per tonne gold from 117m, including 4m at 37.2g/t gold;
16m at 6.2g/t from 114m, including 4m at 22.4g/t gold;
15m at 3.7g/t from 117m, including 5m at 10.4g/t gold; and
17.6m at 2.2g/t gold from 55m.

“An extensive drill campaign will commence immediately targeting high-grade gold mineralisation within the Central Zone of Katanning gold project,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“This new drilling will build on the findings of the recent Scoping Study and will include extensions to the high-grade gold mineralisation identified in areas where this mineralisation remains open both along strike and down-dip.

“It is anticipated that drilling these extensions will further expand the current 1.2- million-ounce gold Resource.

“The planned exploration will also extend to Ausgold’s regional targets including the Burong and Nanicup Bridge prospects, leveraging on the recently awarded $150,000 of co-funding provided under the WA Government’s Exploration Incentive Scheme.

“Drilling these prospects, along with other low-cost high-impact exploration programs, will be conducted on Ausgold’s regional land package of over 4,000 square kilometres of underexplored Archean greenstone belt, further developing the company’s geological understanding of the region.

“The company is now well positioned to accelerate its exploration programs at the Katanning gold project and looks forward to updating the market as results become available.”

 

Email: info@ausgoldlimited.com

Web: www.ausgoldlimited.com

 

THE DAILY ROADHOUSE

 

Independence Group Maximises Value of Nova Concentrates

THE DRILL SERGEANT: Independence Group (ASX: IGO) has been busy of late working to maximise value from the high-quality nickel and copper concentrates produced at the company’s Nova Operation in Western Australia.

Ausgold Scoping Study Shows Katanning Gold Mine Potential

THE DRILL SERGEANT: Ausgold Limited (ASX: AUC) has completed a Scoping Study for the company’s 100 per cent-owned Katanning gold project in Western Australia.

Golden Rim Resources Identifies 1.6km Gold Anomaly at Kouri

THE DRILL SERGEANT: Golden Rim Resources (ASX: GMR) copleted an Induced Polarisation (IP) survey at the company’s Kouri gold project in Burkina Faso.

NTM Gold Raising Funds to Continue Redcliffe Exploration

THE BOURSE WHISPERER: NTM Gold (ASX: NTM) announced an equity issue to Institutional and Sophisticated Investors, funds from which will be used to accelerate exploration on the company’s Redcliffe gold project near Leonora in Western Australia.

 

Ausgold Scoping Study Shows Katanning Gold Mine Potential

THE DRILL SERGEANT: Ausgold Limited (ASX: AUC) has completed a Scoping Study for the company’s 100 per cent-owned Katanning gold project in Western Australia.

Ausgold reported the Study had determined key outcomes highlighting the potential of the project to support a viable standalone gold mining and processing operation.

The Scoping Study incorporated a revised Mineral Resource Estimate of 33.9 million tonnes at 1.1 grams per tonne gold for 1.2 million ounces of gold.

The company said preliminary economics indicate the project has positive financial metrics over an initial mine life of seven years with capital payback early in the life of the project.

As a result of the positive outcome of the Scoping Study, the Ausgold Board has wasted little time in approving the commencement of further studies and metallurgical test work.

There is also to be a new drilling program charged with the aim of expanding the current Resource with a focus on targeting high-grade mineralisation within the Central Zone.

“The Scoping Study is a huge step forward for the Katanning gold project highlighting as it does the potential for a standalone mining operation,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“The Scoping Study outlines a base case for a 1.25 million tonnes per annum mining operation capable of producing over 350,000 ounces over an initial seven-year mine life with an attractive payback period of less than two and half years.

“The Study has been completed to a high standard by an experienced team of independent Western Australian based consultants who have developed conservative operating parameters providing a high degree of confidence in study outcomes.

“This provides a realistic base case at an $2,000 per ounce gold price providing an attractive payback period of less than 2½ years, with these economics being significantly improved when current spot gold prices are considered.

“The project is located less than 300 kilometres from Perth and close to high-quality infrastructure which supports the near-term development of the project.

“The significant near Resource exploration potential, improves the economics of this project with a planned drill program to further enhance projects economics.

“The Scoping Study highlights the potential for the development of a robust standalone gold operation and, as a result, the Ausgold Board has approved the commencement of further studies, metallurgical test work and new drilling programs with the aim of expanding the current Resource with a focus on targeting high-grade mineralisation to expand the current Resource within the Central Zone.”

 

Email: info@ausgoldlimited.com

Web: www.ausgoldlimited.com

 

Ausgold Identifies New Katanning Gold Targets

THE DRILL SERGEANT: Ausgold Limited (ASX: AUC) scored encouraging results from a reverse circulation (RC) drill program carried out at the company’s 100 per cent-owned Katanning gold project (KGP) in the South West Yilgarn Craton of Western Australia.

Ausgold completed a total of 23 RC holes designed to test mineralisation along strike and also to test potential beyond the current Resource areas, with the aim of adding to the current JORC Resource of 25.1 million tonnes at 1.29 grams per tonne gold for 1.04 million ounces of gold.

The drilling targeted extensions to high-grade mineralisation at Jackson and tested several new areas including the Jinkas North and Lukin prospects.

Drilling at Jackson included 10 RC holes in the southern portion of the Jackson Resource area, with the aim of providing better controls on mineralisation.

Jackson is the western most portion of the current Mineral Resource, with gold mineralisation dipping towards the east and underlying the White Dam and Jinkas lodes.

The latest drilling intersected high-grade mineralisation at shallow depths, returning results of:

BSRC0886
3 metres at 6.55 grams per tonne gold from 13m, including 2m at 9.63g/t gold from 13m;

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4m at 2.09g/t gold from 102m;

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2m at 2.22g/t gold from 65m, including 1m at 3.89g/t gold from 66; and

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1m at 4.36g/t gold from 47m.

Galileo interpreted these results to suggest potential for more extensive high-grade mineralisation recognised within the southern Jackson Resource area.

Further work is currently underway to delineate these high-grade shoots which have already been delineated over a strike length of at least 200m and remain open along strike.

The company completed three reconnaissance RC holes into the Jinkas North area, which extends for 850m between the Jinkas and Olympia Resources areas.

The Jinkas North area has not had any prior drilling and is not included in the current Resource, despite its proximity to two large Resource areas.

The RC drilling intersected the prospective mafic granulite and gold mineralisation, including:

BSRC0894
1m at 2.77g/t gold from 83m.

“The recent RC program has targeted near Resource targets including the Jackson Trend as well as reconnaissance targets at Jinkas North and Lukin,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“The reconnaissance RC drilling has produced encouraging gold grades and intersected mineralisation near to surface suggesting the southern portion of the KGP has the potential to host significant gold mineralisation.

“It remains one of our primary goals to build the KGP mineral inventory, both through near-Resource additions and significant standalone discoveries, which is what we are looking for at Lukin and elsewhere within our extensive regional landholding at Katanning.

“The recent round of reconnaissance RC drilling within the KGP has shown extensive mineralisation strike length.

“This untested potential along the Jinkas trend and at the Jackson and Lukin prospects could deliver material additions to the KGP’s global Resource.

“Further work is being undertaken to better delineate high-grade mineralisation within the Jackson prospect intercepted previously which will have a significant impact on the overall grade of this deposit.

“A program of downhole EM and additional geological modelling is being undertaken to plan future drill programs.”

 

Email: info@ausgoldlimited.com

Website: www.ausgoldlimited.com

 

Ausgold Identifies Strong Anomalism at Winchester Prospect

THE DRILL SERGEANT: Ausgold (ASX: AUC) announced completion of an aircore (AC) drill program conducted by the company’s Joint Venture partner Great Boulder Resources (ASX: GBR), at the Winchester prospect within the Yamarna project in Western Australia.

Ausgold said the recent exploration program consisted of 118 AC holes drilled and a ground gravity survey of 575 stations.

The AC drilling was conducted on a wide-spaced east-west grid measuring 400m by 1000m with the purpose of improving the current geological interpretation.

The drilling identified geochemical anomalism extending over a strike length of 2,500m with nickel values (>1500ppm), coincident copper (>100ppm) and >10ppb PGE (>10 ppm), which is slightly offset from the Bottom-of-hole (BOH) anomalism.

The geochemical anomaly extends anomalism identified at Winchester to the southern tenement boundary.

Previous drilling at the Winchester prospect by Ausgold and GBR had identified nickel-copper-cobalt-PGE mineralisation.

“We are pleased with the results of the recent exploration program which highlight the potential of the Yamarna project,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“AC drilling intersecting grades of up to 1.1 per cent copper, 0.7 per cent nickel and 0.04 per cent cobalt over 2,500 metres strike length highlight the potential for significant magmatic sulphide mineralisation.

“Great Boulder continue to advance the Yamarna project by spending $250,000, thereby meeting the first milestone to earn a 51 per cent interest in the project.

“The fast rate of progress ensures the highly prospective Yamarna project continues to be advanced by a focused nickel – copper explorer.

“The Joint Venture is structured in such a way that Ausgold retains a 25 per cent free-carried interest through to a decision to mine, allowing Ausgold to focus its efforts on its 100 per cent-owned Katanning gold project (KGP), where the company continues to have exploration success and is progressing towards a mine development of the 1.04 million-ounce gold Resource.”

 

Email: info@ausgold.com

Website: www.ausgold.com

 

Ausgold Intersects Further Jinkas South Mineralisation

THE DRILL SERGEANT: Ausgold (ASX: AUC) reported results of reverse circulation drilling (RC) undertaken at the Jinkas South prospect, within the company’s 100 per cent-owned Katanning gold project (KGP) in Western Australia’s south-west.

Ausgold commenced the drilling in March targeting high-grade gold mineralisation within the Jinkas South area it considers having potential to add both grade and total ounces to the current KGP Mineral Resource, which stands at 25.1 million tonnes at 1.29 grams per tonne gold for 1.04 million ounces of gold.

Intercepts from the recent RC drilling at Jinkas South include:

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16 metres at 6.21 grams per tonne gold from 114m, including 4m at 22.38g/t gold;

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5m at 1.88 g/t gold from 76m;

BSRC0875
25m 1.13 g/t gold from 115m including 5m at 3.41 g/t gold;

BSRC0875
6m at 2.11 g/t gold from 97m;

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4m at 2.63 g/t gold from 72m including 2m at 4.65 g/t gold;

BSRC0872
12m at 0.85 g/t gold from 63m including 6m at 1.15 g/t gold;

BSRC0878
5m at 1.45 g/t gold from 71m including 4m at 1.70 g/t gold; and

BSRC0877
14m at 0.98 g/t gold from 86m including 1m at 7.30 g/t gold.

Ausgold said the new drilling had combined with a ground gravity program to identify controls on high-grade gold mineralisation and supports the recent geological interpretation along the eastern edge of the Jinkas deposit.

“RC drilling at Jinkas South has again intersected high-grade gold mineralisation, further extending the identified zone of high-grade mineralisation over a strike length of 350 metres,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“This high-grade mineralisation remains open along strike making it an attractive target with the potential to significantly add to the 1.04 million ounces already identified at the KGP.

“With the new gravity survey, several previously unidentified faults have been highlighted allowing more targeted drill programs in the future.

“Further work is currently being undertaken to better delineate gold mineralisation down dip of and along the Jinkas trend.

“These represent immediate exploration targets coincident with gravity anomalies, where the Jinkas and White Dam lodes coalesce.

“This down-dip position towards the east remains poorly tested with the current drilling at the KGP only effectively testing the top 150 metres, leaving the down- dip extent of the Jinkas-White Dam mineralisation largely untested.”

 

Email: info@ausgoldlimited.com

Website: www.ausgoldlimited.com

 

Ausgold Raises $1.8M to Advance KGP

THE BOURSE WHISPERER: Ausgold Limited (ASX: AUC) has received binding commitments for a share placement to raise $1.8 million by will issuing 90 million shares at an issue price of two cents each.

Ausgold indicated the fuds raised will be used to advance exploration at the company’s Katanning gold project, with work to include drilling targeting extensions to current Resources, newly identified near Resource targets and regional targets within the broader Katanning landholding and to provide additional working capital.

“We are pleased to have completed this placement which provides funds to commence a significant exploration program at the Katanning gold project,” Ausgold managing director Matthew Greentree said in the company’s announcement to the Australian Securities Exchange.

“An RC and EIS co-funded diamond drill program targeting high-grade gold mineralisation north and south of the Jinkas Resource is set to commence in the first week of March.

“This will be followed by a regional aircore drilling program to test gold-in-soil anomalies along the newly identified Western trends located within five kilometres of the Jinkas Resource.

“Both target areas have significant potential to further contribute to the 1.04 million ounce gold Resource within the KGP.

“We look forward to delivering further growth through exploration success as 2019 is shaping up to be an exciting year for Ausgold and its shareholders.”

 

Email: info@ausgoldlimited.com

Website: www.ausgoldlimited.com