Ausgold confirms high-grade gold, bolstering Katanning project growth

Ausgold Limited (ASX: AUC) has reported initial assay results from 11 reverse circulation drill holes at its Katanning Gold Project (KGP) in Western Australia, totaling 1,581 meters. The drilling, conducted on recently acquired land, is part of an ongoing 44,000-meter program aimed at resource growth and confirming early mine life.

Step-out drilling delivered high-grade mineralization beyond the current Mineral Resource, including 14m @ 6.18g/t Au from 181m, with a notable section of 5m @ 16.44g/t Au from 181m in BSRC1811. Additionally, 10m @ 2.27g/t Au from 150m, including 3m @ 6.59g/t Au from 150m in BSRC1809, further extends the high-grade lodes.

In-fill drilling within the existing resource consistently returned higher-than-modeled grades, confirming deposit continuity and local grade uplift potential. Highlights include 13m @ 2.27g/t Au from 60m in BSRC1812 and 17m @ 1.55g/t Au from 122m in BSRC1810. To date, 5,717m (42 holes) have been completed in the current campaign, with a second RC rig now on site.