Announcement Date: 2022-08-01
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Ausgold Ltd.
Project name: Katanning
Location: Australia
Commodities: Gold
Highlight: Initial Reserve Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Ausgold Limited (ASX: AUC) (Ausgold, or the Company) is pleased to announce the results of the Prefeasibility Study (PFS) and Maiden Ore Reserve for the Company’s 100%-owned flagship Katanning Gold Project (KGP or the Project) located 275km south-east of Perth, Western Australia. For further information regarding the PFS and Maiden Ore Reserve, refer to the Executive Summary Report included in this announcement as Appendix 1. The Ore Reserve was prepared and reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012 edition) (the JORC Code). Please refer Appendix 2 for details of the Ore Reserve. Maiden Ore Reserve The Project’s underlying Mineral Resource is technically robust, being based on almost 234,137 m of RC and diamond drilling providing a high confidence geological model. The current mining areas are located on granted Mining Leases where small scale mining has been undertaken in the past and provides context for a large open cut mining development demonstrated within the current PFS. The current PFS forecasts that the Project will generate A$981 million of EBITDA over the LOM and an average posttax free cashflow during production of A$70 million a year.
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