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Ausgold Ltd.
Summary
| Project: | Katanning | |
|---|---|---|
| Deposit: | Datatine | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/13/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 13-12-2016: Ausgold Ltd. announces an Exploration/Drilling Update report for its Datatine deposit at the Katanning project. Drilling results incl. 25m @ 2.47g/t Au from 20m at Datatine. Ausgold Limited (ASX: AUC) (“Ausgold” or “the Company”) is pleased to | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Melanie Sutterby (Internal) | |
| ABSTRACT: | Ausgold Limited (ASX: AUC) (“Ausgold” or “the Company”) is pleased to advise that high grade assay results have been received from the maiden RC drilling program at the Datatine prospect, located 7km north of the Jinkas open pit at the Company’s 100% owned Katanning Gold Project (“KGP”) (Table 1, Appendix 1). Five RC holes for 284m have been completed to date to follow up gold mineralisation identified previously by air core (“AC”) drilling (refer ASX Announcement “New Gold Discovery at Katanning Project”, 5 May 2016). All five RC holes intersected significant mineralisation, with follow up RC drilling at Datatine planned to commence to test mineralisation open at depth and along strike. Ausgold’s Geology Manager, Miss Melanie Sutterby, commented: “The high-grade results of initial RC drilling at Datatine support Ausgold’s new exploration model and confirmed high-grade mineralisation identified from recent AC drilling. Gold mineralisation at Datatine appears to be dipping towards the south and remains open along strike and at depth. The new RC results confirm the high prospectivity of our regional tenement position and support the potential for significant new discoveries amongst a growing portfolio of targets within this under-explored greenstone belt.” The RC program at Datatine was planned to verify the high-grade gold intercepts from previous AC drilling results (refer ASX Announcement “New Gold Discovery at Katanning Project, 5 May 2016) and test the continuity of mineralisation at depth. Three RC holes were planned along the same section as the original significant AC intercepts (BSAC 1337 to BSAC 1349, Figure 1). BSRC0723 was drilled as planned. BSRC0724 and BSRC0725 were abandoned at 20m and 24m respectively due to poor ground conditions. BSRC726 and BSRC0727 were collared 10m north-northeast of the section to allow for better drilling. | |
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