Australasian Metals identifies drill targets for high-grade gold veining

Australasian Metals Limited (ASX: $A8G) has completed a study identifying drill targets based on high-grade epithermal gold veining at the Ayres Rock Prospect in the Capella Gold Project located in Central Queensland. The study has revealed potential high-grade plunging shoots worthy of drill testing at depth, following the recent surging gold price.

Executive Commentary on Drill Targets and Potential Mineralisation

A8G Managing Director Dr Qingtao Zeng expressed satisfaction with the identification of potential high-grade plunging ore shoots at the Ayres Rock Prospect. The study's reliance on mapping and compilation of drilling data has revealed greater alteration than previously recognized, supporting a large system. The proposed program has the potential to increase the existing JORC compliant mineral resource estimate both in volume and grade.

Summary of Australasian Metals' Announcement

Australasian Metals' study has identified drill targets for high-grade epithermal gold veining at the Ayres Rock Prospect, indicating potential for increased mineral resource estimate in volume and grade. The recent surging gold price has further motivated the company's exploration efforts. The identification of potential high-grade plunging ore shoots has paved the way for follow-up drilling programs, with a focus on exploring for a northerly plunging high-grade mineralised shoot. The company's ambitions include ongoing exploration and diamond core testing to further assess the potential mineralisation at depth.