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Ausgold Ltd.
Summary
| Project: | Katanning | |
|---|---|---|
| Deposit: | Devils Elbow, Fraser, Jinkas South | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/13/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-2-2018: Ausgold Ltd. announces an Exploration/Drilling Update report for its Devils Elbow, Fraser, Jinkas South deposit at the Katanning project. Drilling results incl. 15m @ 1.33g/t Au from 20m. Ausgold Limited (ASX: AUC) (“Ausgold” or “the Company”) | |
| Resources: | (Resource, Total): 785Koz Au contained at Katanning | |
| CP/QP: | [Overall Report]: Matthew Greentree (Internal) | |
| ABSTRACT: | Ausgold Limited (ASX: AUC) (“Ausgold” or “the Company”) is pleased to announce that recent air core drilling (AC) at its 100%-owned Katanning Gold Project (KGP) in Western Australia’s south-west has demonstrated strong continuity of mineralisation within the central project area around existing Resources. A large AC drill campaign of 331 holes for 7,810m was completed over the course of December 2017 and January 2018, targeting geochemical and geophysical targets along strike from known gold mineralisation. As part of the campaign, 107 AC drill holes for 2,619m were completed to blade refusal targeting mafic gneiss along strike from the Jinkas and Jackson-Devil’s Elbow-Fraser West mineralised trends (Figure 1). This new drilling highlights gold mineralisation along three laterally extensive mineralised lodes (Table 1 & Table 2). Jinkas South 21 AC holes for 569m have been drilled 400m along strike from the Jinkas Resource, with 12 holes delivering significant intercepts greater than 0.1 g/t Au (Table 1 & Figure 2). It is also noted from the bottom-of-hole geology that the Quartz Monzonite that separated the Jinkas lode from the White Dam (Fraser) lode thins to the south, bringing these two lodes closer together south of the currently defined Jinkas and White Dam Resource areas (Figure 3). A further 38 AC holes drilled for 957m have been drilled over a strike length of 2,600m to test the continuity of the mafic gneiss host rocks southeast from the Jinkas deposit (Figure 2). 18 AC drill holes returned anomalous gold grades over 0.1 g/t Au (Table 1) with the following significant intercepts | |
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