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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:

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

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

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

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

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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:

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

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

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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:

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

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

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

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

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

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

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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

 

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.