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Ausgold Ltd.
Summary
| Project: | Katanning | |
|---|---|---|
| Deposit: | Lukin | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 3/28/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-3-2018: Ausgold Ltd. announces an Exploration/Drilling Update report for its Lukin deposit at the Katanning project. Drilling results incl. 7m @ 1.55g/t Au from 101m. Ausgold Limited (ASX: AUC) (“Ausgold” or “the Company”) is pleased to announce encour | |
| 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 encouraging results from reverse circulation (RC) and aircore (AC) drilling at the Lukin prospect, to the south of the current resource areas within the Company’s 100%-owned Katanning Gold Project (KGP) in Western Australia’s south-west. A drill program of 10 RC holes for 1,148m and 29 AC holes for 1,351m was conducted between January and February 2018 at Lukin, which is located 500m south of the Dingo deposit, the southern-most deposit that contributes to the KGP’s Mineral Resource of 20.98 million tonnes grading 1.17g/t Au for 785,800 ounces of contained gold. This wide-spaced drilling was designed to follow up AC drilling undertaken between 2012 and 2013 that pointed to the prospectivity of the southern portion of the KGP (Figure 1). Combined with new detailed ground gravity data, the latest drilling has confirmed gold mineralisation over a strike length of approximately 6km. RC drilling at Lukin RC drilling was conducted to test gold mineralisation intersected in the previous AC drilling associated with mafic and intermediate granulite along strike from the Dingo deposit. The reconnaissance RC drill program was conducted at relatively wide drilling spacing (80 x 100 and 80 x 200m) along three separate sections (Figure 3, Figure 4 & Figure 5). | |
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