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Ausgold Ltd.
Summary
| Project: | Katanning | |
|---|---|---|
| Deposit: | Datatine | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/14/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-2-2017: Ausgold Ltd. announces an Exploration/Drilling Update report for its Datatine deposit at the Katanning project. Drilling results incl. 12m @ 2.01g/t Au from 73m. Ausgold Limited (ASX: AUC) (“Ausgold” or “the Company”) is pleased to advise that | |
| 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 the first batch of assay results have been received from the follow up reverse circulation (“RC”) drilling program currently being undertaken at the Datatine prospect. Datatine is located 7km north of the Jinkas open pit at the Company’s 100% owned Katanning Gold Project (“KGP”) (Table 1, Appendix 1). A ~3500m RC drill hole program is underway at the Datatine prospect to test mineralisation at depth and along strike, with the drilling progressing on a positive results basis. Thus far, 6 RC holes for 592m have been completed, with all results returned. In conjunction with the RC program, ongoing air core (“AC”) drilling has been testing geochemical and geophysical targets around the Datatine area. To date 49 AC holes for 1375m have been drilled. Assay results are expected in the coming weeks. Ausgold’s Geology Manager, Miss Melanie Sutterby, commented: “The results from the initial follow up RC drill holes at Datatine have given us confidence to carry on with the rest of the drilling program as planned. The mineralisation remains open down-dip as well as along strike to the south-west. The success of the program to date means we are confident of delivering a maiden mineral resource upon completion of the drilling. The Datatine discovery remains a significant milestone for Ausgold as it demonstrates that new discoveries are possible in close proximity to the existing mines and strengthens the potential for regional discoveries”. | |
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