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Ausgold Ltd.
Summary
| Project: | Katanning | |
|---|---|---|
| Deposit: | Lone tree, Jackson, Olympia | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/23/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-1-2018: Ausgold Ltd. announces an Exploration/Drilling Update report for its Lone tree, Jackson, Olympia deposit at the Katanning project. Drilling results incl. 28m @ 0.63g/t Au from 28m. Ausgold Limited (ASX: AUC) (“Ausgold” or “the Company”) is plea | |
| 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 initial results of air core drilling (AC) at its 100%-owned Katanning Gold Project (KGP) in Western Australia’s south-west. 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 264 AC drill holes for 4,033m tested along strike on the Jackson-Lone Tree and OlympiaJinkas mineralised trends at the KGP (Figure 1). The AC drilling was completed to blade refusal, with most holes being relatively shallow (4-38m). Where holes were intersected less than 20m total depth, additional holes were drilled infilling along the same line to ensure adequate testing of targets (Table 1 & Table 2). Results have been received from 181 of the 264 holes (3,406m) drilled, with results from a further 83 holes (1,627m) drilled in the Jackson-Olympia area pending. Results of AC drilling highlight the continuity of the east-dipping (40-60m) gold mineralisation from Lone Tree towards Jackson in the north. This northward trend is evident in aeromagnetic images and the continuity of mineralisation is confirmed by the recent round of drilling with a number of significant intercepts > 0.1 g/t (Table 1 & Figure 2) including three bottom-of-hole intercepts > 0.5 g/t Au (holes BSAC1593, BSAC1603 & BSAC17420) | |
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