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Ausgold ups Katanning gold project resource by 23%

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Ausgold ups Katanning gold project resource by 23%

Ausgold Ltd. said Aug. 3 that it increased resources at its Katanning gold project in Western Australia by 23% to 785,800 ounces of gold contained within 20.98 million tonnes at 1.17 g/t gold.

The updated estimate includes measured resources of 3 million tonnes at 1.94 g/t of gold for 190,190 contained ounces and indicated resources of 6.7 million tonnes at 1.07 g/t gold for 232,400 contained ounces.

It incorporates 26 recent reverse circulation drillholes for 3,528 meters targeting high-grade mineralization and strike extensions at the Jinkas, White Dam, Jackson and Fraser deposits. The Jinkas resource has been increased by 18% to 6.75 million tonnes at 1.45 g/t gold for 315,700 contained ounces.

Ausgold noted that there was significant strike extension to Jinkas, with the resource remaining open and potential to add to the resource through further drilling.