New High-Grade Results Take Mineralisation Beyond 580m
Initial results from Ausgold Limited’s (ASX: AUC) ongoing RC drilling programme have extended the high grade Jinkas South lode to over 580 metres along strike at the Katanning Gold Project (KGP) in Western Australia’s south-west.
Ausgold has to date received the results for the first six holes of a 21 hole 3,200m programme of reverse circulation (RC) drilling at the Central Zone within its 100%-owned Katanning Gold Project.
New drilling has used down hole electromagnetic (DHEM) and Moving Loop EM (MLEM) to target drilling located along strike from areas of high-grade gold mineralisation intercepted at the Jinkas South and Jinkas areas. Significant intercepts from this RC drilling include:
- 5m @ 13.67 g/t Au from 120m including 1m @ 65.8 g/t Au;
- 39m @ 1.32 g/t Au from 96m including 8m @ 4.10 Au and 1m @ 22.2 g/t Au;
- 9m @ 2.34 g/t Au from 89m including 5m @ 3.95 g/t Au;
- 16m @ 1.19 g/t Au from 126m including 2m @ 4.31 g/t Au;
- 6m @ 2.81 g/t Au from 78m;
- 5m@ 2.93 g/t Au from 88m including 1m at 8.75 g/t Au;
- 1m @ 16.8 g/t Au from 141 m; and
- 6m @ 1.41 g/t Au from 79m.
Managing Director, Matthew Greentree, said the new drill results extend the zone of high grade gold mineralisation to a total strike length of 580m north along strike from mineralisation intersected in previous drill programmes.
He added that shese drilling results are highly significant as they validate both the geological model that is predicting the location of high grade gold mineralisation and the effectiveness of the geophysics being used to directly target this mineralisation.
Most importantly they show the potential for the Jinkas South lode to add substantial high-grade ounces to the existing 1.2 million ounce gold Resource at Katanning.
Recent work has focused on the geological controls on Jinkas South high grade mineralisation, primarily focused on key host rock associations and the accompanying of pyrrhotite – magnetite alteration zones. This recent drill programme is being followed-up with an additional DHEM program and
“We are pleased with the high-grade gold mineralisation intersected within the initial RC drilling results which significantly extend the Jinkas South lode to a strike length of over 580m,” Mr Greentree said.
“The new drilling has validated the geological model and the initial DHEM targets, providing clear confirmation that the high-grade Jinkas South lode extends over a significant strike length and remains open along strike. This zone remains open with drilling underway to test three additional DHEM targets north of the currently identified Jinkas South mineralisation.
“The high grade Jinkas South gold mineralisation has been now shown to extend north along strike and will add to the current 1.2 Moz gold Resource at Katanning. The new drilling shows high-grade gold mineralisation extends well beyond that estimated in the current resource model. This will further expand the open pit Resource and further improve the project economics.
“Further drilling is planned to target high-grade mineralisation down dip and north along strike where it remains open, Ausgold is extending the coverage of DHEM to target this mineralisation.”