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- Ausgold (AUC) has received a key approval to access the Rifle Range Reserve and enable reverse circulation drilling within its wholly owned Katanning Gold Project (KGP) in WA
- The company will undertake a targeted 35-hole, 5250-metre RC drill program to test the extensions to KGP’s gold mineralisation within the Rifle Range Reserve
- The area contains more than 2.5 kilometres of previously untested strike length
- According to the company, the drilling has the potential to significantly add to the Katanning Gold Project’s (KGP) existing 1.2 million ounce gold resource
- Drilling is expected to be completed in Q2 2021
- Ausgold shares are up 4.08 per cent, trading at 5.1 cents
Ausgold (AUC) has received a key approval to access the Rifle Range Reserve and enable reverse circulation drilling within its wholly owned Katanning Gold Project in WA.
Ausgold will undertake a targeted 35-hole, 5250-metre reverse circulation drill program to test extensions to Katanning Gold Project’s gold mineralisation within the Rifle Range Reserve, where no previous drilling exploration has taken place before.
The area contains more than 2.5 kilometres of previously untested strike length, with new targets supported by coincident electromagnetic and gold-in-soils anomalies.
Initial RC drilling within the Rifle Range Reserve will target high-priority areas and take place in coming weeks, in conjunction with resource definition drilling in the Central Zone and on targets within farmland adjacent to the Reserve area.
The company says this drilling has the potential to significantly add to the Katanning Gold Project’s (KGP) existing 1.2 million ounce gold resource.
“Drilling access to the Rifle Range Reserve has been eagerly anticipated and is highly significant as it allows us to finally start to develop an understanding of the true scale of the KGP gold mineralisation,” said Ausgold’s Managing Director, Matthew Greentree.
“The planned drilling provides a further test of our geological model, which has enabled better targeting of high grade mineralisation within both the Jinkas and Jinkas South lodes and will be a feature of the upgraded KGP Resource due in March 2021.”
Drilling is expected to be completed in Q2 2021.
Ausgold shares are up 4.08 per cent, trading at 5.1 cents at 12:20 pm AEDT.
