Ausgold (ASX:AUC) has reported further ‘high-grade’ drilling results from its Katanning Gold Project in Western Australia, with the company preparing an additional 25,000m reverse circulation (RC) program.
The company completed 59 RC and diamond drill holes across the Central and Northern zones, returning significant intercepts, including 26m @ 3.03 grams per tonne gold from 79m in hole BSRC2076.
Other notable results include 10m @ 3.78g/t gold from 46m and 9m @ 3.67g/t gold from 46m, including 5m @ 6.25g/t gold from the same depth.
“The Katanning Gold Project continues to deliver exciting drill results, […] demonstrating progress across multiple fronts, including resource growth, enhanced confidence in the existing resource model, and the advancement of a pipeline of satellite opportunities,” Executive Chairman John Dorward says.
A formal review of in-fill drilling confirmed excellent grade reconciliation, with more than 80% of results within mineralised domains returning grades higher than the underlying resource model.
Extensional drilling continues to intersect mineralisation beyond the current resource envelope at the project, which hosts a 2.44 million ounce mineral resource and 1.33 million ounce ore reserve.
“With a further 25,000m of drilling about to commence, Ausgold remains focused on systematically growing and advancing the Katanning Gold Project as we progress towards development,” Dorward adds.
Ausgold expects to deliver a resource update in the December quarter.
The company will be attending the Noosa Mining Conference, held 22 to 24 July, at Pepper Noosa Resort, Noosa Heads, Queensland.
Mining.com.au is an official media partner of this year’s conference.
Write to JC Villarba at Mining.com.au
Images: Ausgold
