Ausgold Limited's progress towards becoming a mid-tier gold producer

Ausgold Limited (ASX:AUC) is on track to become Australia's next mid-tier gold producer with significant developments at the Katanning Gold Project in Western Australia. The company's recent equity financing and land acquisitions have positioned it to de-risk and grow, with a significant drill program scheduled to commence in the December Quarter of 2024. The completion of a Definitive Feasibility Study (DFS) in the first half of 2025 is a key milestone in the company's journey towards establishing a large, long-life gold mine.

Executive Chairman's perspective on the company's progress

Ausgold's progress towards establishing a top-tier gold operation in Western Australia is a result of strategic decisions and meticulous planning. The recent equity financing has provided the necessary funds to drive the project towards the completion of the DFS. We are focused on demonstrating the potential of the Katanning Gold Project through resource growth and de-risking activities. The upcoming drill program and the appointment of key personnel reflect our commitment to building the capacity to deliver a major new Australian gold mine.

Outlook for Ausgold and the Katanning Gold Project

Ausgold's focus on the Katanning Gold Project and its aim to become a mid-tier gold producer in Australia is underpinned by the project's large resource of 3.04Moz @ 1.06g/t Au and the potential to produce over 136,000 ounces per annum. The company's strategic land acquisitions and the commencement of a significant drill program demonstrate its commitment to de-risking and growing the project. The completion of the DFS in the first half of 2025 will be a crucial milestone, paving the way for the establishment of a large, long-life gold mine. With a strong focus on resource growth, capacity building, and key appointments, Ausgold is poised to make significant strides towards its goal of becoming a prominent player in the Australian gold mining industry.