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Ausgold Limited

RC drilling identifies extensions to Katanning gold Resource

Ausgold Limited (ASX: AUC) (“Ausgold” or the “Company”) is pleased to announce the results of reverse circulation drilling (RC) at the Central Zone within its 100%-owned Katanning Gold Project (“KGP”) in Western Australia’s southwest. 


  • Significant intercepts from recent drilling at Jinkas South intersect broad zones of mineralisation extending beyond current Resource areas include 

    • 13m @ 1.11 g/t Au from in BSRC0918 

    • 17m @ 1.03 g/t Au from 93 m in BSRC0927  

    • 20m @ 0.94 g/t Au from 119 m in BSRC0918  

  • Zones of high-grade gold mineralisation include 

    • 1m @ 11.20 g/t Au from 142 m in BSRC0918 

    • 1m @ 16.35 g/t Au from 73 m in BSRC0927  

  • Down Hole EM (DHEM) program highlights new targets at Jinkas South extending zones of previous highgrade intercepts, including 26m @ 6.6 g/t Au from 117m (including 4m @ 37.19 g/t Au from 119m), 16m @ 6.21 g/t Au from 114m (including 4m @ 22.38 g/t Au), 15m @ 3.66 g/t Au from 117m (including 5m @ 10.37 g/t Au), and 12m @ 3.52 g/t Au from 120m (including 3m @ 9.64 g/t Au)  

  • Shallow mineralisation intersected at Jinkas West with near-surface mineralisation adding to Resource potential along 350m strike length including 

    • 7 m @ 1.79 g/t Au from 113 m including 1m @ 9.33g/t Au from 118 m  

    • 7 m @ 1.42 g/t Au from 96 m in BSRC0939  

    • 6m @ 1.51 g/t Au from 37m including 3 m @ 2.63 g/t Au  

  • RC drill results pending for Burong Prospect at the near regional Western Trends 


During February and March the Company completed a program of 23 RC drill program holes for 2,797m and DHEM within the Central Zone (Figure 1 and 2). This new work has identified targets which have the potential to significantly add both grade and total ounces to the current KGP Mineral Resource, which stands at 33.1 million tonnes grading 1.10 g/t Au for 1.2 million ounces of gold (Table 3)


Ausgold’s Managing Director, Matthew Greentree, commented: “RC drilling within the Central Zone has intersected broad zones of gold mineralisation which extend beyond current Resource areas and will add further high-grade ounces to the current 1.2 Moz gold Resource at Katanning. Drilling has been complemented with a program of DHEM which is being used to target high-grade gold mineralisation. Newly identified high-grade gold mineralisation at Jinkas South has been intersected over a strike length of 400m and this zone remains open both down dip and along strike.” 


Figure 1 - Location of KGP and near regional prospects 

ASX Announcement:

https://www.asx.com.au/asxpdf/20200330/pdf/44ghvdnmqyh7qr.pdf


For further information, please contact:


Jane Morgan Management

Investor and Media Relations 

jm@janemorganmanagement.com.au

+ 61 (0) 405 555 618


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