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The 160-180 hole aircore campaign over eight prospects defined “It is also very pleasing that the system demonstrates potential for
by geochemical or geophysical surveying began in late March, high-grade gold as a late mineralisation phase.”
just over a fortnight after drilling on the company’s nearby Moora
project returned a number of significant intersections.
AuSGOld fIllInG ThE GAPS AT kGP
Drilling at the Koojan JV is part of an initial $6.7 million, six-month
New drilling has identified near-surface mineralisation in the Central
exploration programme which began last November and is
scheduled to be completed ahead of the cropping season that Zone of Ausgold Ltd’s Katanning gold project, Western Australia.
will soon begin across key project areas. Drilling along the Jackson and White Dam lodes returned intercepts
The aircore drilling will test coincident geochemical and of 6m @ 4.79 g/t gold from 48m (including 3m @ 9.08 g/t), 4m @
5.47 g/t from 42m, 5m @ 3.43 g/t from 23m, 9m @ 1.30 g/t Au from
geophysical targets, including the previously announced high-
priority Mallory and Bourbana prospects reported by Liontown 27m, 7m @ 1.03 g/t from 29m, 6m @ 1.17 g/t from 53m and 5m @
1.37 g/t from 102m.
Resources Ltd prior to the demerger and IPO of Minerals 260.
Koojan forms part of a contiguous 1,000sq km land position Ausgold has now completed almost two-thirds of its 30,000m
which also includes the 100%-owned Moora project immediately multi-rig campaign over the Central and Southern zones, largely
to the east. Minerals 260 is in JV at Koogan with Lachlan Star Ltd designed to increase resource confidence and identify higher-
and has the right to earn up to 51% direct interest in the project. grade gold mineralisation.
PFS work is continuing ahead of targeted completion in late Q2
2022.
STAVElY’S SuRPRISE hIT
“Drilling in the Jackson and White Dam lodes has targeted a
Stavely Minerals Ltd received an unexpected surprise in the number of gaps in the current resource drilling which included
form of high-grade gold mineralisation associated with copper the old tailings dam and the southern portion of the Jackson area
sulphide tetrahedrite from follow-up drilling at the Toora West historically seeing only wide spaced drilling,” Ausgold managing
porphyry prospect, part of the company’s namesake copper-gold director Matthew Greentree said.
project in western Victoria.
“These higher-grade results will feed into a further resource
Drilling intersected two high-grade gold zones, including 0.6m upgrade now planned for Q2 2022 and will increase the proportion
@ 4.27 g/t gold, 0.31% copper, 2.6 g/t silver and 130 ppm of a measured and indicated resource in this new model. The
molybdenum from 274.2m and 0.6m @ 8.72 g/t gold, 1.85% position along the footwall of the Central Zone will also add further
copper, 5.2 g/t silver & 151 ppm molybdenum from 286.7m. potential reserves for the project.”
Stavely chair and managing director Chris Cairns said the
unidirectional solidification textures noted in drill core point to the
company hitting the top of a possible porphyry system.
“This suggests that we are not looking at a porphyry target that
is at a kilometre depth, it is likely much closer to surface,” Cairns
said.
“While the Toora West porphyry prospect is at an early stage
of reconnaissance exploration, we are excited by what our
recent drilling and geophysical programs have revealed. It is a
real positive that our regional targeting methodology has been
so successful in identifying ‘blind’ targets under basalt and
transported cover with a success rate of around 80% to date.
Ausgold has a resource upgrade planned for its Katanning gold
project later this quarter

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