Ausgold Reports High-Grade Results, Supports Resource Growth at KGP
Key points
- High-grade gold results from Katanning Gold Project
- Significant intercepts support resource growth
- Excellent grade reconciliation in in-fill drilling
- Additional 25,000m of drilling planned
- Nanicup Bridge prospect shows potential for satellite resource
Full summary
Ausgold Ltd has reported significant high-grade gold results from its Katanning Gold Project (KGP) in Western Australia, supporting targeted resource growth and in-fill drilling. The drilling program, designed to grow the existing 2.44Moz Resource and 1.33Moz Reserve, has returned multiple high-grade intercepts, including 26m @ 3.03g/t from 79m and 9m @ 3.67g/t from 46m. The in-fill drilling has demonstrated excellent grade reconciliation, with over 80% of intersections within mineralised domains returning grades higher than the underlying Resource model. An additional 25,000m of Reverse Circulation (RC) drilling is planned to commence imminently, targeting a 20m x 20m drill spacing within the first two years of planned mine life. The Nanicup Bridge prospect, located 40km south-east of KGP, has also shown potential for a maiden satellite mineral resource, with significant intercepts including 42m @ 0.55g/t from 102m.
Outlook
The company remains focused on systematically growing and advancing the Katanning Gold Project as it progresses towards development.
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