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Austral Gold Ltd.
Summary
| Project: | Amancaya | |
|---|---|---|
| Deposit: | Amancaya | |
| Location: | Chile | |
| Commodities: | Gold-Silver | |
| Date: | 1/26/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 26-1-2017: Austral Gold Ltd. announces an Exploration/Drilling Update report for its Amancaya deposit at the Amancaya project. Drilling results incl. 3.1m @ 58.93g/t Au, 94.7g/t Ag from 72.4m. Austral Gold Limited (ASX: AGD) (TSX-V:AGLD) (the "Company" or | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Michael Brown (Internal) | |
| ABSTRACT: | Austral Gold Limited (ASX: AGD) (TSX-V:AGLD) (the "Company" or "Austral") is pleased to announce the final batch of assay results from the infill drilling program at its 100% owned high grade gold and silver Amancaya project (“Amancaya”) located in Chile. The infill program, which commenced on September 8th , 2016, targeted the Central and Julia veins, which host the gold and silver epithermal inferred resource that is the focus of an ongoing pre-feasibility study expected to be completed by the first quarter of 2017. Amancaya is located 60 km southwest of the Company’s Guanaco underground gold mine, which is approximately 220 km from Antofagasta in northern Chile. “We are very pleased with the results from the infill program, which has significantly extended the high grade zones on the Central Vein, with the discovery of two new high grade shoots. The significant expansion and consistency of the high grade mineralisation exhibited from this drilling at the Central Vein is extremely encouraging”, stated Stabro Kasaneva, CEO of Austral Gold. “The high grade and continuity of the mineralisation indicate that Amancaya may have the potential to be a very significant part of Austral’s future plans to grow production into a medium sized precious metal producer. We are looking forward to seeing the results of this drilling incorporated into a new independent mineral resource estimate and pre-feasibility study, which should be completed prior to the end of the first quarter, 2017.” | |
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