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Ausgold Ltd hits high-grade gold at Katanning

Ausgold Ltd hits high-grade gold at Katanning

Ausgold Ltd (ASX:AUC) has intersected high-grade gold from both the White Dam and the Jackson deposits at the Katanning Gold Project (KGP) in Western Australia.

An assay result of 2 metres at 20.49 g/t gold from 163 metres has been received from a new reverse circulation drill-hole at White Dam.

The results extend the known mineralisation at White Dam by a further 80 metres, extending the overall known mineralisation at White Dam by 150 metres north-east and down plunge.

Assay results have also been received for two reverse circulation holes completed at the Jackson deposit yielding 10 metres at 2.06 g/t gold from 52 metres, which includes 3 metres at 5.04 g/t gold.

The drilling at the Jackson deposit successfully intersected down plunge of the apparent high grade shoot extensions and confirms the presence of lode continuation beyond the current resource.

The KGP is located 275 kilometres southeast of Perth where Ausgold holds over 2,131 square kilometres of land. The relatively under-explored greenstone belt is highly prospective for Archaean gold deposits.

Ausgold’s share price has increased by more than 60% since the beginning of 2016.


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