Ausgold Limited (ASX: AUC) (“Ausgold” or “the Company”) is pleased to provide an update of exploration activities at its 100%-owned Katanning Gold Project (KGP) in Western Australia’s south-west Yilgarn craton.
Augold Katanning Highlights
New aircore drilling at Burong prospect shows:
New northeast striking mineralised trend identified, with RC drilling planned imminently
Large coherent gold anomaly (> 100ppb Au) extending over a 1.2 km strike length, open along strike with a package of sulphidic mafic and ultramafic granulites, known to host gold mineralisation regionally
Regional potential is being assessed along northeast-striking mineralised trend extending 10km along strike
- RC drilling underway within Central zone
- New DHEM targets identified in Central Zone, including Jinkas South
- RC drilling high-grade gold targets, with results expected by the mid to late March 2020
Following the recent AC drilling, RC and diamond drilling is also planned at Burong and Nanicup Bridge, which will be co-funded up to $150,000 by the Western Australian Exploration Incentive Scheme (EIS). Soil sampling between Burong and Datatine is underway in preparation for drill testing. Petrographic and multi-element geochemical studies of gold mineralisation at the KGP have been completed and the new concepts are being applied to exploration.
Ausgold’s Managing Director, Matthew Greentree, commented: “Ausgold’s exploration drilling at its 100%-owned Katanning Gold Project continues its two-pronged approach, which includes both near regional exploration at the Burong prospect and RC drilling targeting high-grade gold mineralisation within the Jinkas South area.”
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