Ausgold Says Results from Drilling at Western Australia Gold Project Confirm Down-Plunge Growth Potential

MT Newswires Live07:54

Ausgold (ASX:AUC) said results from eight extensional reverse circulation and diamond drill holes from the Central zone at the Katanning gold project in Western Australia confirmed significant down-plunge growth potential, according to a Thursday Australian bourse filing.

It encountered intercepts of 16 meters at 1.32 grams per tonne grade of gold from 252 meters, as well as three meters at 5.67 g/t from 255 meters. Meanwhile, the first of two deep diamond holes intersected 13.8 meters at 0.48 g/t grade of gold from 481.5 meters, around 300 meters down-plunge of the current open pit mineral resource, confirming the continuation of the mineralized system well beyond existing resource limits.

The ongoing 25,000-meter infill drilling program continues to confirm and improve confidence in the geological mineralization model with an intercept of 10 meters at 1.56 g/t grade of gold from 36 meters.

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