Ausgold Limited (ASX: AUC) has intersected high-grade gold on the Jinkas South lode within its 100%-owned Katanning Gold Project (KGP) located in Western Australia’s south-west.
30 holes for 5,424m have targeted the Jinkas South lode intersecting gold mineralisation north along strike a further 600m from previously high-grade gold mineralisation.
Significant results from new drilling within Jinkas South lode include:
Managing Director, Matthew Greentree, said the new RC drilling within the Jinkas South lode has intersected further high-grade gold mineralisation along a total strike length of 1.3 km which remains open.
Several broad zones of gold mineralisation indicate the Jinkas South lode is increasing in thickness and is now an increasingly significant addition to be incorporated into the Resource upgrade planned for Q1 2021.
Two holes targeting the northern extension of the Jinkas South lode (BSRC1044 and BSRC1045) indicate this mineralisation remains open along strike with additional RC and diamond drilling being planned. A follow-up programme of Downhole EM (DHEM) is underway to assist with targeting and locating pyrrhotite alteration associated with gold mineralisation.
Ausgold’s Managing Director, Matthew Greentree, commented:
The Jinkas South lode is proving to be a significant addition to the project with grades significantly higher than the current Resource extending over 1.3km,” Mr Greentree said.
“This new drilling provides further confirmation of our geological model which has enabled better targeting of high-grade mineralisation within both the Jinkas and parallel Jinkas South lodes.
“This new drilling significantly extends the high-grade gold mineralisation within the Jinkas South lode, which we anticipate will further add to the Resource upgrade planned for Q1 2021 and benefit the projects economics.
“The 25,000m RC drill programme at the KGP continues, with results for 31 holes for 3,055m drilled within the Central Zone currently in the laboratory pending analysis.
“ An additional 2,200m program of RC and diamond drilling has commenced at Jinkas North as part of an Exploration Incentive Scheme (EIS) co-funded drilling grant to Ausgold. Jinkas North represents an area which is currently undrilled over a strike length of 850m.
“New targets derived from detailed geophysics data have shown potential extensions to the Jinkas and Jinkas South lodes.
“A DHEM programme is underway alongside RC drilling and will provide new targets for immediate drill testing within the Jinkas South and Jinkas North areas.”