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Ausgold Ltd.

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Summary

Project:

Katanning

Deposit:Katanning
Location:Australia
Commodities:Gold
Date:5/7/2020
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resource Increase/Upgrade
Report details:7-5-2020: Ausgold Ltd. announces an Exploration/Drilling Update report for its Katanning deposit at the Katanning project. Drilling results incl. 1m @ 6.47g/t Au from 101m. Ausgold Limited (ASX: AUC) (“Ausgold” or “the Company”) is pleased to provide an u
Resources:Resources: 10.4Mt @ 1.21g/t Au (M+Ind+Inf - 0.7g/t Au cut-off)
CP/QP:[Overall Report]: Matthew Greentree (Internal)
ABSTRACT:Ausgold Limited (ASX: AUC) (“Ausgold” or “the Company”) is pleased to provide an update of exploration activities at its 100%-owned Katanning Gold Project (KGP) in Western Australia’s south-west Yilgarn craton. Nine reconnaissance Reverse Circulation (RC) holes for 1,015m have been drilled to test two areas within the KGP (Figure 1). Burong Ausgold has completed a maiden RC drill program of 5 shallow holes for 588m at the Burong prospect which was partly funded by the WA Government Exploration Incentive Scheme (EIS). The new RC drilling has tested bedrock gold mineralisation at Burong located 7km west from the Central Zone Resource area at the KGP. RC drilling conducted on two 200m spaced sections has intersected steeply dipping bed-rock gold mineralisation beneath a coherent >100 ppb gold anomaly identified in aircore drilling which extends over a 1.2 km strike length (Figure 2 - 4). RC drilling intersected gold mineralisation in all holes with the best results drilled on separate sections

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