The Department of Energy, Mines, Industry Regulation and Safety has granted Ausgold (ASX:AUC) two additional mining leases for the Katanning Gold Project in Western Australia.
The newly granted mining leases, encompassing a combined area of 649 hectares, cover proposed mining and infrastructure sites, including processing facilities, tailings storage facilities, and waste dumps.
Ausgold, which has a market capitalisation of $183.48 million, says the granting of the leases represents an “important milestone” on its path towards development and production.
Executive Chairman John Dorward says that given the acquisition of the freehold land underlying the leases was only settled in June this year, “to have already received these mining leases highlights the favourable conditions for undertaking new mining projects in Australia”.
The Katanning Gold Project has a total resource of 3.04 million ounces of gold and lies 275km from Perth, Western Australia. A Definitive Feasibility Study for the project is expected to be completed in the first half of 2025.
Ausgold is a gold explorer and developer based in Western Australia focused on unlocking the multi-million-ounce resource potential of the Southwest Yilgarn via its flagship Katanning Gold Project.
Write to Aaliyah Rogan at Mining.com.au
Images: Ausgold
