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Ausgold Ltd.
Summary
| Project: | Katanning | |
|---|---|---|
| Deposit: | Jinkas Hill | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 5/14/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-5-2018: Ausgold Ltd. announces an Exploration/Drilling Update report for its Jinkas Hill deposit at the Katanning project. Drilling results incl. 9m @ 2.05g/t Au from 191m. 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 drilling (RC) at the Jinkas Hill area within its 100%‐owned Katanning Gold Project (KGP) in Western Australia’s south‐west. The nine RC holes drilled for 1,798m at Jinkas Hill were testing for down dip extensions of Jinkas and White Dam mineralisation. The Jinkas and White Dam Resources comprise the majority of the total KGP Mineral Resource, which stands at 20.98 million tonnes grading 1.17 g/t Au for 785,000 ounces of gold (Table 3). The RC drilling targeted the mafic gneiss that hosts gold mineralisation within the parallel Jinkas and White Dam lodes. Nine drill holes tested five positions along a strike length of 400m where the quartz monzonite has thinned and the results highlight the down dip continuity of gold mineralisation across the deposit (Table 1 & Table 2). Jinkas and White Dam lodes High‐grade gold mineralisation within the Jinkas deposit is localised around a sill‐like quartz monzonite (granite) body which dips towards the east (Figure 3 ‐ 5). 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. This is a similar scenario to that interpreted for the Jinkas South prospect where a highly significant intercept of [email protected] g/t from 117m including 4m@ 37.19 g/t in BSRC0814 (ASX, 3 April 2018) coincides with the quartz monzonite sill terminating down dip. | |
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