Austral Gold (ASX:AGD) has commenced a phased exploration program at its wholly owned Juncal Project in Chile as it executes its strategy to focus on near-mine targets.
Austral acquired Juncal from SSR Mining (TSX:SSRM) in 2016. The project covers approximately 2,100 hectares and is part of the company’s exploration portfolio.
The exploration program comprises three phases, with the first phase, from March to April 2026, focused on detailed surface geological mapping and systematic channel sampling.
The phase one objective is to confirm the grades identified during reconnaissance and to refine structural interpretations.
Phase two will take place in Q2 2026, with expected completion around 30 June and will focus on ground magnetics and induced polarisation. Phase two will complement the work done in the first phase and support the generation of new drill targets.
The third phase will take place in Q3 2026, ending 30 September. Work will target 10,000m of reverse circulation drilling to test down-dip extensions of mapped structures as well as to evaluate the potential of mineralised zones previously identified.
CEO Stabro Kasaneva says that the company is in a good place financially to pursue this exploration program following funding on 23 February 2026.
“This program is an important step towards advancing our exploration objectives, helping refine drill targets, assess potential satellite targets for our Guanaco operation, and build momentum across our regional portfolio,” Kasaneva says.
“We also expect to announce shortly the commencement of phased exploration programs at Casposo in Argentina.”
Austral Gold is a gold and silver mining producer with a portfolio of assets in the Americas.
Write to Amy Rotman at Mining.com.au
Images: Austral Gold
