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Ausgold Ltd.
Summary
| Project: | Katanning | |
|---|---|---|
| Deposit: | Jinkas | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/16/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-11-2018: Ausgold Ltd. announces an Exploration/Drilling Update report for its Jinkas deposit at the Katanning project. Drilling results incl. 12.5m @ 1.58g/t Au from 117.6m. Ausgold Limited (ASX: AUC) (“Ausgold” or the “Company”) is pleased to announce | |
| 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 programs at the Jinkas South prospect, within its 100%-owned Katanning Gold Project (KGP) in Western Australia’s south-west. As announced on 3 October 2018, the Company commenced a drill program at Jinkas South which consisted of one diamond hole for 178m as part of the Western Australian Government-funded Exploration Incentive Scheme (EIS), and eight RC holes drilled for 1,290m. The drilling program was designed to test the extent and orientation of mineralisation within the Jinkas South area. Mineralisation at Jinkas South is the culmination of the Jinkas and White Dam lodes, at which point they thicken along the hinge zone of a regionally extensive fold that extends down dip. Currently these two lodes contain the majority of the KGP Mineral Resource, which stands at 20.98 million tonnes grading 1.17 g/t Au for 785,000 ounces of gold, all located within 150m of surface (Table 3). Eastern Jinkas mineralisation The recent drilling better delineates a broad zone of mineralisation which is traced over a considerable strike length along the eastern side of the current defined mineralisation which is a down dip extension of the JinkasWhite Dam Resources where the two lodes coalesce. The position coincides with a broad zone of mineralisation which has significant high grade mineralisation intersected along at least 1,200m strike length, with the most recent intercepts being at Jinkas South (Figure 1). This broad zone of gold mineralisation within the Jinkas deposit is localised around a sill-like quartz monzonite (granite) body which dips towards the east (Figures 3 and 4). This sill separates the Jinkas lode from the White Dam lode but is not considered to be directly related to gold mineralisation. Its margins represent a focus where mineralisation is localised either directly or along a pre-existing structure. | |
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