Ausgold Ltd (ASX:AUC) intersected high grade gold of 9 metres at 8.15 g/t from 145 metres depth at the White Dam deposit in Katanning Gold Project (KGP), Western Australia.
Another drill hole intersected 5 metres at 4.44 g/t gold from 148 metre depth.
The new results increase confidence in the predicted high grade zones and demonstrate the potential to increase the size of the White Dam deposit.
Mineralisation remains open down plunge, with drill holes completed to test the newly recognised potential for repetitions of mineralisation.
These results are anticipated to both extend the current boundaries of the mineral resource and to increase the confidence of the current geological model.
Air Core drilling is continuing within a 10 kilometre radius of the mine targeting new discoveries.
The KGP is situated approximately 260 kilometres southeast of Perth and 35 kilometres east-north east of Katanning and is accessible by a sealed highway.
Further drill results are expected in weeks to come.
Ausgold’s share price has increased by more than 50% during the last 3 months.
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