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Ausgold Ltd.
Summary
| Project: | Katanning | |
|---|---|---|
| Deposit: | Datatine | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 6/1/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-6-2018: Ausgold Ltd. announces an Exploration/Drilling Update report for its Datatine deposit at the Katanning project. Drilling results incl. 1m @ 14.4g/t Au from 31m. Ausgold Limited (ASX: AUC) (“Ausgold” or “the Company”) is pleased to announce the r | |
| Resources: | (Resource, Total): 20.9Mt @ 1.17g/t Au for 785Koz at Katanning | |
| CP/QP: | [Overall Report]: Matthew Greentree (Internal) | |
| ABSTRACT: | Ausgold Limited (ASX: AUC) (“Ausgold” or “the Company”) is pleased to announce the results of recent reverse circulation (RC) and diamond drilling at the Datatine prospect, approximately 8km north of the main Resource areas within its 100%-owned Katanning Gold Project (KGP) in Western Australia’s south-west. A total of nineteen RC holes for 2,517m were drilled to test targets along three coincident gold-in-soil and geophysical anomalies identified at Datatine (Figures 1 and 2). Results for the final diamond hole co-funded by the Western Australian Government’s Exploration Incentive Scheme (EIS), which was drilled to 165.7m, have also been received. Datatine differs to the more southern portions of the KGP in that the host rocks and mineralisation strike in an easterly direction with a southerly dip as opposed to north-westerly strike with an easterly dip. Mineralisation identified at Datatine is not currently included in the KGP Mineral Resource, which stands at 20.98 million tonnes grading 1.17 g/t Au for 785,000 ounces of gold (Table 3). The prospect is located on the northern end of the Katanning Gold Project. Fourteen holes for 1,903m were drilled on five sections covering 460m west along strike from the known mineralisation. The holes were drilled on wide spacing of 80m x 120m and 80m x 80m to provide a test of the gold mineralisation along the geological contact between the granite and mafic-intermediate granulite rocks. This new drilling was designed to test gold mineralisation identified within previous AC drilling (ASX announcement 23 March 2018). Drilling extending south along a second trend, 250m south of the main Datatine trend, is interpreted as the southern limb of a synform. Results from drilling have shown mineralisation along strike towards the west following the mafic gneiss – granite contact (Table 1 and Figure 2). | |
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