Sign up Australia
Proactive Investors - Run By Investors For Investors

Ausgold’s shares rise on high-grade hits at Katanning Gold

Ausgold (ASX:AUC) has received high grade assay results from a drilling program at the Datatine prospect, part of the company’s Katanning Gold Project in Western Australia.
Ausgold’s shares rise on high-grade hits at Katanning Gold
Ausgold’s shares rise on high-grade hits at Katanning Gold

The company’s shares were last trading at $0.037, up 12.12% intraday.

Five reverse circulation holes for 284 metres have been completed to date to follow up gold mineralisation identified previously by air core drilling.

Importantly, all five holes intersected mineralisation, including:
- 25 metres at 2.47 g/t gold (from  20 metres) including 2 metres at 16.26 g/t gold  (from 42 metres); and
- 8 metres at 3.87 g/t gold (from 11 metres) including 2 metres at 10.46 g/t gold (from 11 metres).

A systematic follow-up drilling program has been planned and is designed to test the down-dip continuity of the mineralisation.

The follow up drilling at Datatine is expected to commence in early January 2017 as all drilling at the Katanning project will cease for about three weeks over the Christmas holiday period.

The drilling at Datatine is part of a 2,500 metre drilling program at the Katanning Gold Project that is primarily targeting three high priority areas at the White Dam, Datatine and Fraser deposits.

Last month, Ausgold raised $800,000 from a share placement at $0.035 per share, to fund its drill program at Katanning.

View full AUC profile View Profile

Ausgold Ltd Timeline

Newswire
October 06 2017
Newswire
June 05 2017
Newswire
November 28 2016

Related Articles

drill rig
September 15 2018
The company is well funded to fast‐track its flagship project towards completion of a definitive feasibility study, anticipated in Q3 2019.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use