Ausgold Expands Katanning Drilling After Strong Gold Intercepts

The latest announcement is out from Ausgold Limited ( (AU:AUC) ).

Ausgold Limited has expanded its drilling campaign at the Katanning Gold Project to 54,000 metres after strong reverse circulation and diamond drilling results from the Central and Southern Zones, including broad and high-grade intercepts at the Jinkas, White Dam and Dingo deposits. With 33,588 metres already completed and about 12,000 metres of assays pending, the company is adding a fifth drill rig to accelerate deep drilling at Jinkas and Datatine, aiming to extend mineralisation beyond the current 2.44-million-ounce resource and improve confidence in early mine-life areas, which could underpin future resource growth and enhance the project’s development prospects.

The most recent analyst rating on (AU:AUC) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Ausgold Limited stock, see the AU:AUC Stock Forecast page.

More about Ausgold Limited

Ausgold Limited is an Australian gold exploration and development company focused on its 100%-owned Katanning Gold Project in Western Australia. The project sits within a major mineralised structural corridor and hosts multi-lode gold mineralisation across Northern, Central and Southern zones, where Ausgold is targeting resource growth and future reserve conversion.

YTD Price Performance: 1.82%

Average Trading Volume: 1,190,679

Technical Sentiment Signal: Buy

Current Market Cap: A$613.6M

For detailed information about AUC stock, go to TipRanks’ Stock Analysis page.