Ausgold Limited (ASX: AUC) has obtained further positive results from the multi-rig drilling programme which commenced in December 2022 at the company’s 100%-owned 2.16Moz Katanning Gold Project (KGP) in Western Australia.
The 25,000m drilling programme at KGP is designed to expand the Resource and regional exploration, as well as testing numerous targets across the 5,500 sq. km tenement holding in the Southwest Yilgarn. This phase of results from reverse circulation (RC) drilling (17 holes for 2,154m) demonstrate the presence and continuity of high-grade zones of mineralization within the Central Zone Resource area.
“Further high-grade results at the Central Zone continue to support our confidence to build on Katanning’s multi- million ounce potential,” Managing Director, Matthew Greentree, said.
“Importantly, these results show continuity within the existing Resource and will contribute towards an updated Resource planned for later this year. The increasing scale of gold mineralisation further supports the definitive feasibility study underway and provides the basis for a larger production profile being contemplated as part of the parallel Scoping Study.”
Near-surface higher-grade gold mineralization has been intercepted within the Central Zone as part of the current drilling campaign (17 holes for 2,154m).
Four holes for 594m have been drilled to target high-grade extensions on the White Dam Lode. White Dam is located along the footwall of the quartz monzonite and has seen comparatively less drill targeting than the Jinkas trend located within the hanging wall of the quartz monzonite.
Significant intercepts at White Dam include:
– 12m @3.88g/t Au from 88m BSRC1600 (White Dam)
– 7m @2.21g/t Au from 99m including 4m @3.59g/t Au BSRC1599 from 101m (Jinkas/White Dam)
– 10m @1.16g/t Au from 96m BSRC1598 (White Dam)
– 19m @0.83g/t Au including 6m @1.25g/t Au from 101m BSRC1601 (White Dam)
A further 10 holes for 1,260m have been drilled to target near-surface gold mineralization along the Jackson Lode. New drilling has intersected high-grade gold mineralization in a number of positions down-dip and down-plunge.
Significant intercepts at Jackson include:
– 3m @13.88g/t Au including 1m @40.28g/t Au from 39m BSRC1602 (Jackson)
– 4m @3.27g/t Au from 45m BSRC1602 (Jackson)
– 10m @1.19g/t Au from 68m BSRC1604 (Jackson)
Ausgold management said that is encouraged by these significant results as they highlight the presence and continuity of high-grade zones within the KGP open pit Resource, which further support the company’s geological understanding. These new zones of high-grade gold mineralization will further contribute towards adding ounces to the Central Zone Resource at the KGP.
For further information please visit: https://ausgoldlimited.com/
