Ausgold Limited (ASX:AUC) Confirms Strong Gold Intercepts at Katanning
Assay Results Overview
Ausgold Limited (ASX: AUC) announced initial assay results from its extensive 19,000m Reverse Circulation (RC) drilling program at the Katanning Gold Project (KGP). The results from 32 holes indicate consistent and strong near-surface gold mineralisation, confirming the project’s mineral endowment.
Significant Drilling Results
The drilling yielded significant gold intercepts, including 19m at 1.20g/t Au and 13m at 1.70g/t Au, further supporting Ausgold’s strategy to de-risk the KGP ahead of a Final Investment Decision anticipated in late 2025. Noteworthy intercepts also include 10m at 1.92g/t Au and 18m at 1.18g/t Au, with additional results expected from further drilling within the KGP and regional prospects in Q1 2025.
Management Insights
John Dorward, Executive Chairman of Ausgold Limited, commented, “It is pleasing to see these confirmatory drill results coming through as planned in this first phase of our drilling program, which is designed to de-risk the existing Resource and enhance the Project’s financing prospects.” He added that future efforts will focus on resource growth and new discoveries across Ausgold’s extensive regional tenement package starting in early 2025.
Future Exploration Plans
Upcoming activities at the KGP include a resource definition drilling program along the Jackson Trend and a grade control program designed to improve ore characterisation for the first mining phase. The company also plans to extend drilling at the Southern Zone in early 2025.
Motley Fool contributor Lauren Surplice has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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