Ausgold Limited gearing up for significant gold drilling program

Ausgold Limited (ASX:AUC) is preparing to commence a substantial new gold drilling program at its flagship 100%-owned 3.04Moz Katanning Gold Project (KGP) in Western Australia. The multi-pronged drilling campaign, comprising approximately 19,000m of Reverse Circulation drilling, is scheduled to start in October 2024. The program is designed to de-risk initial mining areas, target extensions to the current 3.04Moz Resource, and test priority regional targets.

Executive Commentary on Upcoming Drilling Program

Ausgold Managing Director, Matthew Greentree, stated, 'Ausgold is about to launch a substantial drilling campaign with the dual focus of de-risking the 3.04Moz Katanning Gold Project and building Resource potential regionally across our dominant tenure position. New drilling will focus on de-risking initial mining areas before moving on to target direct extensions to the KGP as well as greenstone belts along regionally significant structures, including targets along 130km of strike length along the Stanley Trend. The region is largely under-explored, and the Company sees clear opportunities to leverage its technical expertise and geological understanding to build a regional resource footprint alongside the growing resource base at the Katanning Gold Project, while maintaining its primary focus on developing a large-scale mining operation.' Executive Chairman, John Dorward, added, 'This significant program is designed to expand the existing resource package at the Katanning Gold Project, identify potential lookalike deposits in the immediate environs of the project, and explore for high-grade satellite deposits with the potential to augment the project's ultimate production profile. We believe that Katanning is in the early stages of being recognized as a significant gold province. This program is a meaningful step towards delivering on that potential.'

Summary of Ausgold's Drilling Program and Outlook

Ausgold Limited (ASX:AUC) is set to launch a major 19,000m Reverse Circulation drilling program at its 3.04Moz Katanning Gold Project (KGP) in Western Australia. The program aims to de-risk initial mining areas, target extensions to the current resource, and test priority regional targets. The company is progressing a Definitive Feasibility Study (DFS) on the development of the KGP in parallel with regional exploration to unlock the potential of its dominant 4,300km2 tenure position in the Katanning Greenstone Belt. The upcoming drilling campaign reflects Ausgold's commitment to building a regional resource footprint alongside the growing resource base at the Katanning Gold Project. The company's ambitions include expanding the existing resource package, identifying potential lookalike deposits, and exploring for high-grade satellite deposits to augment the project's ultimate production profile. Ausgold's focus remains on developing a large-scale mining operation, and the upcoming drilling program marks a significant step towards realizing the potential of the Katanning Gold Project as a significant gold province.