Ausgold Limited (ASX: AUC) has intersected further shallow high-grade gold intercepts with the now complete drilling campaign at its flagship Katanning Gold Project (KGP) in Western Australia.
New drilling has delivered significant results in two resources in the Central Zone (Jackson trend) and Northern Zone (Datatine).
The latest results includes reverse circulation (RC) drilling (49 holes for 4,794m) and diamond drilling (DD) (4 holes for 667m) for a total of 5,461m.
The new results further demonstrate the presence and continuity of significant gold mineralization along the western Jackson Trend, within the KGP Central Zone, and at Datatine, within the Northern Zone.
“Ausgold continues to deliver meaningful and low-cost ounces at Katanning, confirmed by the results of the new drilling. The results have defined high-grade zones, with excellent continuity, and importantly at shallow open-cut depths,” Managing Director, Matthew Greentree, said.
“There is no doubt that the Katanning Gold Project will become the next Australian mid-tier Gold producer. On any metric, Ausgold stands up with:
- A critical mass 2.64Moz Resource established with a planned 10 year LOM gold operation producing 136 kozpa with a rapid 20 month capital payback;
- One of the largest Ore Reserves in the country of 1.28Moz;
- An upgraded Resource coming in Q3 incorporating further drilling success;
- A Definitive Feasibility Study due in Q4 that will include a larger 5Mtpa operation;
- Further potential of continued gold exploration results as well as opportunity in regional projects for gold, lithium and Ni-PGE; and
- An outstanding low risk profile located in Western Australia with 5,500sq. km of highly prospective tenure on free hold land (no native title), and access to infrastructure including roads and renewables backed grid power.”
For further information please visit: https://ausgoldlimited.com/
