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Ausgold: high grade results extend Jinkas South lode

July 10, 2020
Mining Editor
3 Min Read
High grade results extend Jinkas South lode
Figure 1 – New drilling shown with grade as gram-metres (intercept width in metres x grade)

Ausgold Limited (ASX: AUC) (“Ausgold” or the “Company”) is pleased to announce the results for the first 6 holes of a 21 hole 3,200m program of reverse circulation (RC) drilling at the Central Zone within its 100%-owned Katanning Gold Project (“KGP”) in Western Australia’s south-west. 

Highlights:

  • Initial high grade results from RC program include: 
    • 5m @ 13.67 g/t Au from 120m including 1m @ 65.8 g/t Au in BSRC0964 
    • 39m @ 1.32 g/t Au from 96m including 8m @ 4.10 g/t Au and 1m @ 22.2 g/t Au in BSRC0963  
    • 9m @ 2.34 g/t Au from 89m including 5m @ 3.95 g/t Au in BSRC0965  
    • 6m @ 2.81 g/t Au from 78m in BSRC0966 o 5m@ 2.93 g/t Au from 88m including 1m at 8.75 g/t Au in BSRC0966  
    • 16m @ 1.19 g/t Au from 126m including 2m @ 4.31 g/t Au in BSRC0965 
    • 1m @ 16.8 g/t Au from 141m in BSRC0961 
  • These results extend the high grade Jinkas South lode to over 580 metres along strike and include past results of 26m @ 6.6 g/t Au from 117m (including 4m @ 37.19 g/t Au from 119m), 16m @ 6.21 g/t Au from 114m (including 4m @ 22.38 g/t Au), and 15m @ 3.66 g/t Au from 117m (including 5m @ 10.37 g/t Au) 
  • DHEM geophysics is proving an effective tool in targeting high grade gold mineralisation at Katanning and shows this mineralisation is open to the north for a significant strike length
  • Results demonstrate potential for Jinkas South to add significant high grade ounces to the existing 1.2 million ounce gold Resource at Katanning
  • RC drilling of this high grade lode is continuing with results anticipated 

Ausgold 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 (Figure 1 & Figure 2). Significant intercepts from this RC drilling are shown in Figures 1 and 2 including:

  • 5m @ 13.67 g/t Au from 120m including 1m @ 65.8 g/t Au in BSRC0964  
  • 39m @ 1.32 g/t Au from 96m including 8m @ 4.10 Au and 1m @ 22.2 g/t Au in BSRC0963  
  • 9m @ 2.34 g/t Au from 89m including 5m @ 3.95 g/t Au in BSRC0965  
  • 16m @ 1.19 g/t Au from 126m including 2m @ 4.31 g/t Au in BSRC0965  
  • 6m @ 2.81 g/t Au from 78m in BSRC0966  
  • 5m@ 2.93 g/t Au from 88m including 1m at 8.75 g/t Au in BSRC0966  
  • 1m @ 16.8 g/t Au from 141 m in BSRC0961  6m @ 1.41 g/t Au from 79m in BSRC0962 
Figure 2 - Long section (view towards west) through the Jinkas Resource area showing extensions of the Jinkas South lode
Figure 2 – Long section (view towards west) through the Jinkas Resource area showing extensions of the Jinkas South lode

Ausgold’s Managing Director, Matthew Greentree, commented: “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. 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. 

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