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Ausgold Ltd.
Summary
| Project: | Katanning | |
|---|---|---|
| Deposit: | Katanning | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/1/2019 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-11-2019: Ausgold Ltd. announces a Scoping Study report for its Katanning deposit at the Katanning project. Scoping study results incl. pre-tax NPV (8%) of A$77M, IRR of 28.2%. Ausgold Limited (ASX: AUC) (“Ausgold”, the “Company”) is pleased announce the | |
| Resources: | (Resource): 33.9Mt @ 1.10g/t Au for 1.2Moz Au contained | |
| CP/QP: | [Resources]: Michael Lowry (SRK Consulting (Australasia) Pty Ltd.) | |
| ABSTRACT: | Ausgold Limited (ASX: AUC) (“Ausgold”, the “Company”) is pleased announce the results of a Scoping Study for the Company’s 100% owned Katanning Gold Project (“KGP”, the “Project”), with key outcomes highlighting the potential of the Project to support a viable standalone gold mining and processing operation. The Scoping Study incorporates a revised Mineral Resource Estimate of 33.9Mt at 1.10 g/t Au for 1.2 million ounces of gold (Table 1), which includes recent drilling and a lower cut-off grade of 0.6 g/t. The lower cut-off grade is based on results from the current Scoping Study. The preliminary economics indicate the Project has positive financial metrics over an initial mine life of 7 years with capital payback early in the life of the project. As a result of the positive outcome of the Scoping Study the Ausgold Board has approved the commencement of the further studies and metallurgical test work, as well as a new drilling program with the aim of expanding the current Resource with a focus on targeting high-grade mineralisation within the Central Zone. | |
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