Ausgold Confirms Extension of Mineralization at Western Australia Project

MT Newswires Live01-27 07:58

Ausgold (ASX:AUC) confirmed the extension of mineralization at the Katanning project in Western Australia with the release of results from in-fill and extensional drilling within the Central Zone, according to a Tuesday filing with the Australian bourse.

Drilling delivered high-grade mineralization down-dip, beyond the current mineral resource of 2.4 million ounces, including 10 meters at 2.24 grams per tonne (g/t) grade of gold from 346 meters, including 2 meters at 9.45 g/t grade of gold from 346 meters, 6 meters at 1.91 g/t grade of gold from 33 meters including 3 meters at 3.25 g/t grade of gold from 33 meters, the filing said.

An additional reverse circulation rig and a diamond rig arrived on site as part of the ongoing drill program, per the filing.

Shares fell nearly 2% in morning trade Tuesday.

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