logo-loader
Mining
Austar Gold Ltd

Austar Gold continues to hit high-grade gold at Rose of Denmark Gold Mine including 72.85 g/t

Austar Gold Limited has continued to intersect high-grade gold from an ongoing exploration program at the Rose of Denmark Mine in Victoria, including 72.85 g/t. The program was designed to define the shape and geometry of the main dyke structure which hosts the mineralisation.

1550463055_cabralgold.jpg
The Rose of Denmark Mine is in Gaffney's Creek in Victoria's eastern goldfields

Austar Gold Limited (ASX:AUL) has continued to intersect high-grade gold from an ongoing exploration program at the Rose of Denmark Mine in Victoria, including 72.85 g/t.

The program was designed to define the shape and geometry of the main dyke structure which hosts the mineralisation.

The results have identified further zones of high-grade gold mineralisation at the mine that demonstrate near-term accessibility.

New drilling results

Results include:

  • 2.45 metres at 8.66 g/t from 29.65 metres including 0.45 metres at 42.28 g/t from 31.65 metres;

  • 0.50 metres at 26.40 g/t from 32.2 metres;

  • 0.29 metres at 13.28 g/t from 69.05 metres; and

  • 0.80 metres at 72.85 g/t from 41.70 metres.

More than 40 holes drilled

Austar Gold chief executive officer Tom de Vries said: “The diamond drilling above and below the level of the Rose of Denmark Adit is defining the shape and geometry of the dyke and is nearing completion.

“We have completed 16 holes in this current phase of drilling with ongoing encouraging results.

“Since December 2017 we have drilled over 40 holes and our knowledge of the ore body continues to grow – drilling is ongoing with the program advancing to the north towards to Rose of Denmark dyke bulge.

“Once the geometry of the dyke has been defined a further program of holes will be drilled within the dyke to test the mineralisation at depth.”

READ: Austar Gold Ltd confirms gold production will start at two historical Victorian mines

The drilling demonstrates the dyke varies locally and at mine-scale in width and dip.

The results provide further confidence in the potential of the dyke as a source of mining inventory to complement production from Morning Star over the coming weeks.

Moving forward Austar will continue defining the dyke’s geometry and continue drilling from the northern-most drill site with the longest being expected to be 130 metres down the line of the dyke bulge. 

- Jessica Cummins 

Quick facts: Austar Gold Ltd

Price: $0.00

Market: ASX
Market Cap: $10.17 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Mining Capital's Alastair Ford charts continued strength in gold price

Mining Capital's Alastair Ford addresses suggestions gold could be heading towards a new high of $2000/oz. ''I think that's quite an ambitious target to be setting at this point ... the next breakout number $1525/oz and thereafter the chartists will look for something like $1560/oz''. ''If...

3 days, 11 hours ago

2 min read