Ausgold Limited (ASX: AUC) has commenced resource expansion and regional exploration programmes at the Katanning Gold Project (KGP) focused on growing the already substantial and largest undeveloped free milling open pit 2.16Moz gold project in Western Australia.
“As we enter our traditionally busy drilling season, Ausgold has identified further potential to expand the already substantial 2.16Moz Katanning Gold Project,” Managing Director, Matthew Greentree, said.
“High value targets will be tested in the Northern and Southern Zones following up recent high-grade drilling results.
“The company is also working through our 5,500 sq. km of regional tenure where the potential for lithium adds a new and exciting prospect.”
Katanning Gold Project
New exploration targets developed within the KGP and environs are designed to test the multi-million-ounce gold potential of the Project. The 10,000m multi-rig drill programme will be undertaken using an AC, RC and DD rig and will target gold mineralization along strike from the KGP within the Southern and Northern Zones and repeats east and west of the Central Zone.
Southern Zone extending eight km south along strike from the Dingo Resource area, the Lukin Prospect contains the same rocks that host gold mineralization as are found in the Central Zone.
Historical AC and RC drilling has demonstrated gold mineralisation along its strike length and has the potential to support a larger gold Resource at the KGP. The current exploration drilling programme will test the potential gold mineralisation extending southward along this 8km of strike length. Significant past results include:
– 3m @ 5.3 g/t Au from 20m including 1m @ 14.55 g/t Au from 20m in BSRC0891;
– 1m @ 2.64 g/t Au from 90m in BSRC0892; and
– 3m @ 0.5 g/t Au from 42m, 3m @ 1.18 g/t Au from 129m and 1m @ 1.8 g/t Au from 156m in BSRC1148.
Northern Zone extends 4.5km north of the current Resource areas at the Central Zone towards the Datatine Resource area. To date, this area has had very limited drilling testing beyond the current Resource areas. Detailed interpretation of geophysics, including aeromagnetic, VTEM and ground gravity, indicates mine sequence extends northward with proposed RC drilling to target additional near-surface gold mineralisation at Jackson North, with significant results including:
– 2m @ 6.07 g/t Au from 54m in BSRC0804;
– 4m @ 2.00 g/t Au from 170m in BSRC1158; and
– 3m @ 1.70 g/t Au from 67m BSRC0922
Western and Eastern trends an aircore drill programme is planned to test parallel structures and prospective mine geology west and east of KGP Resource. The prospectivity of these two areas is based on geophysics and field mapping with limited sampling. Gold mineralisation has been identified with bottom-of-hole gold anomalism (including 3m @ 0.4 g/t in BSAC0895) in past reconnaissance aircore drilling. Limited work east of the Central Zone has identified prospective mafic geology which correlates with 70ppb gold in soil anomalism.
Regional Exploration
A 15,000m AC drilling programme will target gold mineralisation along major structures which are considered as focal zones for gold mineralisation. As part of this regional exploration program, Ausgold is also targeting areas considered prospective for pegmatite-hosted lithium based on results from a recent target generation study.
For further information please visit: https://ausgoldlimited.com/
