- Ausgold (AUC) completes a 30,000-metre drilling program at its Katanning gold project in WA
- Drilling targeted the Central and Southern zones to add near-surface resource ounces and open-pit mine planning to support a pre-feasibility study
- AUC has received more results which identified near-surface high-grade gold within the Central zone as well as broad zones of gold mineralisation within the Southern zone
- Further drilling is currently underway and the company says the PFS is on track to be completed before the end of the June quarter
- AUC shares have been trading down 1.52 per cent at 6.5 cents
Ausgold (AUC) has completed a reverse circulation (RC) drilling program at the Katanning gold project in Western Australia.
The 30,000-metre drilling effort targeted the Central and Southern zones to potentially add near-surface resource ounces and support open-pit mine planning for a pre-feasibility study (PFS).
Ausgold received a fresh batch of results from the Jinkas and Jinkas South lodes within the Central zone as well as the Dingo deposit within the Southern zone.
Jinkas South returned high-grade results of three metres at 4.4 g/t gold from 93.75 metres including one metre at 12 g/t gold from 95 metres.
The Jinkas lode yielded eight metres at 1.72 g/t gold from 54 metres including seven metres at 1.87 g/t gold from 55 metres.
Ausgold plans to undertake downhole electromagnetic (DHEM) surveys and further RC drilling at the Central zone to extend mineralisation down plunge.
New results from the Dingo deposit showed broad zones of gold mineralisation including seven metres at 2.04 g/t gold from 34 metres including two metres at 6.12 g/t gold from 37 metres.
The company also plans to carry out further drilling at the Lukin and Rifle Range prospects within the Central Zone.
“Over the past six months, the company has drilled over 59,000 metres in the Katanning project, with 30,000 metres targeting near surface high-gold mineralisation which has clearly demonstrated further growth potential with clear extensions to the KGP Resource and remaining open at depth,” Managing Director Matthew Greentree said.
Ausgold is waiting on assays for a further 34 holes for nearly 4400 metres. Around 2500 metres of follow-up RC drilling is underway and the company is planning to complete a further 820 metres of diamond drilling.
The company said the PFS is on track to be completed before the end of the current June quarter.
AUC shares were down 1.52 per cent to trade at 6.5 cents at 10:55 am AEST.