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Ausgold Ltd teams up with engineering partner for Katanning Gold

Ausgold Ltd teams up with engineering partner for Katanning Gold

Ausgold Ltd (ASX:AUC) has appointed GR Engineering Services Ltd (ASX:GNG) as its preferred provider of engineering services for the Katanning Gold Project in Western Australia.

GRES will provide services associated with the feasibility study, engineering design, construction and commissioning of processing facilities at Katanning, located 275 kilometres southeast of Perth.

Geoffrey Jones, managing director of GR Engineering, has been appointed to Ausgold’s board as a non-executive director.

Geoffrey Jones is a civil engineer with over 30 years’ experience and is currently the non-executive director of Marindi Metals Ltd (ASX:MZN) and Azumah Resources Ltd (ASX:AZM).

Earlier this month, Ausgold completed a share placement at $0.05 per share, raising $1.05 million.

The proceeds of the placement will be used to accelerate the company’s exploration and resource development programs at Katanning.

The current total mineral resource for the Katanning Gold Project is 16.4 million tonnes at 1.21 g/t for 637,330 ounces gold.

During the coming months, Ausgold plans to complete a maiden reverse circulation drilling program at the Datatine prospect, following the recent high-grade drill results from the White Dam prospect.

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 funding will also allow Ausgold to undertake an aeromagnetic survey across the company’s regional tenements at Katanning, with the objective of identifying further drill targets.

 

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Ausgold Ltd Timeline

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October 06 2017
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June 05 2017
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November 28 2016

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