Ausgold Extends High-Grade Gold Mineralisation at Katanning as Four-Rig Drilling Campaign Ramps Up

An announcement from Ausgold Limited ( (AU:AUC) ) is now available.

Ausgold has reported new assay results from a further 55 reverse circulation drill holes totaling 8,179 metres at the Central Zone of the Katanning Gold Project, confirming existing mineralisation and extending high-grade gold mineralisation beyond the limits of the current Mineral Resource and open-pit designs. The in-fill drilling results are broadly consistent with, and in places exceed, the existing resource model, underpinning confidence in the current mine plan, while step-out drilling demonstrates clear potential for resource growth down-dip and outside the present pit shells; with four rigs now active on site and 13,031 metres drilled to date in a 44,000-metre program, the company is accelerating drilling aimed at resource growth, reserve conversion and improved early mine-life certainty ahead of an updated Mineral Resource estimate, reinforcing Katanning’s growth profile for investors and other stakeholders.

The most recent analyst rating on (AU:AUC) stock is a Hold with a A$1.50 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 lies within a major mineralised structural corridor in the south-west of the state, with a 15km trend of multi-lode gold mineralisation hosted across the Northern, Central and Southern zones, and the Central Zone currently accounting for the bulk of the project’s 2.44-million-ounce Mineral Resource.

YTD Price Performance: 14.55%

Average Trading Volume: 1,067,992

Technical Sentiment Signal: Buy

Current Market Cap: A$688.1M

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