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- Ausgold (AUC) reports more high-grade gold results from its multi-rig, 25,000-metre drilling program at its Katanning gold project (KGP) in WA
- Results from the Central Zone area include a three-metre hit grading 13.88 grams per tonne (g/t) gold, including one metre at 40.28 g/t gold from 39 metres
- AUC says the results, paired with previous high-grade results, highlight that the existing 2.16-million-ounce resource continues to grow
- Managing Director Matthew Greentree says the increasing scale of gold mineralisation supports the current definitive feasibility study for the project
- Ausgold shares are up 4.17 per cent and trading at 5 cents at midday AEDT
Ausgold (AUC) has reported more high-grade gold results from its multi-rig, 25,000-metre drilling program at its Katanning gold project (KGP) in WA.
The drilling program is designed to test several targets across Ausgold’s 5500-square-kilometre landholding in the Southwest Yilgarn region.
Ausgold today reported results from 17 reverse circulation holes completed in the Central Zone of the project, highlighting results such as three metres at 13.88 grams per tonne (g/t) gold, including one metre at 40.28 g/t gold from 39 metres.
Further results include 12 metres at 3.88 g/t gold from 88 metres.
AUC said the hits demonstrated the presence and continuity of high-grade zones of mineralisation within the Central Zone area.
According to AUC, the results, paired with previous high-grade results, highlighted that the existing 2.16-million-ounce resource continued to grow.
“Further high-grade results at the Central Zone continue to support our confidence to build on Katanning’s multimillion-ounce potential,” Ausgold 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.”
The project began in December 2022 and is designed to expand the KGP gold resource and exploration area.
Ausgold shares were up 4.17 per cent and trading at 5 cents at midday AEDT.
