Ausgold Ltd (ASX:AUC) has received encouraging high grade assay results from reverse circulation drilling at the Katanning Gold Project located 275 kilometres southeast of Perth.
The presence of wide gold mineralised halos contain high grade, pipe-like shoots at the White Dam and Jackson prospects.
The high-grade assay results from White Dam included 9 metres at 8.15 g/t gold from 145 metres including 5 metres at 14.25 g/t gold.
The drilling has seen useful assay results that should see an upgraded resource at Katanning.
The current JORC 2012 total mineral resource for the Katanning Gold Project is 16.4 million tonnes at 1.21 g/t gold for 637,330 ounces gold.
The new results have extended the high grade zone at the White Dam deposit by 150 metres and confirm the potential for extending both the White Dam and Jackson mineral resources.
Ausgold is planning to follow up RC and Diamond drilling to expand the White Dam high-grade shoot down plunge as well as systematic drilling to further assess the potential for repetition of shoots.
Ausgold’s shares are trading higher on the back of positive results from the Katanning Gold Project.
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