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Ausgold Ltd.
Summary
| Project: | Katanning | |
|---|---|---|
| Deposit: | Datatine | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 4/11/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-4-2017: Ausgold Ltd. announces an Exploration/Drilling Update report for its Datatine deposit at the Katanning project. Drilling results incl. 4m @ 0.75ppm Au from 4m. Ausgold Limited (ASX: AUC) (“Ausgold” or “the Company”) is pleased to advise encoura | |
| Resources: | (Resource, Total): 637000oz @ 1.21g/t Au at project | |
| CP/QP: | [Overall Report]: Melanie Sutterby (Internal) | |
| ABSTRACT: | Ausgold Limited (ASX: AUC) (“Ausgold” or “the Company”) is pleased to advise encouraging results from first-pass AC drilling on previously untested portions of the Datatine area. Datatine is located 7km north of the Jinkas open pit at the Company’s 100% - owned Katanning Gold Project (“KGP”) (Table 1, Appendix 1). The recent AC program tested significant gold in soil anomalies which extend for over 600m. Drilling targeted areas interpreted from geophysics as mafic granulites and likely structural trap sites for gold mineralisation (Figure 1). The new AC drilling in the Datatine area has intersected anomalous gold in regolith and fresh rock in wide spaced AC drilling that was drilled to blade refusal. A total of four new targets were identified in the immediate Datatine area, suggesting the presence of a significant gold system that Ausgold believes is comparable to that of the Jinkas area. Ausgold’s CEO, Dr Matthew Greentree, commented: “Newly defined gold anomalies highlighted in the results of AC drilling program are very encouraging. Ongoing exploration at Datatine provides the potential to grow the resource at the Company’s Katanning Gold Project. The recent AC drilling has significantly improved our understanding of gold mineralisation in the Datatine area. We believe that Datatine has the potential to host a gold system comparable to Jinkas and this is supported by these results. These newly defined targets will be the subject of further drilling and will form part of the Company’s ongoing exploration efforts in this under-explored and highly prospective greenstone belt.” | |
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