Announcement Date: 2022-04-04
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Ausgold Ltd.
Project name: Katanning
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 8m @ 4.19g/t Au from 53m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Ausgold Limited (ASX: AUC) (Ausgold or the Company) is pleased to provide an update of exploration activities at the Company’s 100% owned 1.84 Moz Katanning Gold Project (KGP). 30,000m RC Drilling Campaign Ausgold has now completed its 30,000m multi-rig reverse circulation (RC) drilling campaign designed to add nearsurface Resource ounces and support open-pit mine planning as part of the Prefeasibility Study( PFS). Results have now been received for 15,000m of drilling along the Jackson and White Dam Lodes with further results pending and an additional 2,500m of drilling underway within the Olympia and Jinkas North areas. The Company is encouraged by the extent of near-surface gold mineralisation identified within both the Jackson and White Dam Lodes, which sit along the footwall of the existing Resource in the Central Zone. The additional oxide mineralisation, combined with the greater continuity of gold mineralisation over this 4.5km of strike length will support further open-pit mine planning.
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