Financial Wire

Ausgold Finds High-Grade Gold Mineralization at Western Australia Project

-- Ausgold (ASX:AUC) said it found high-grade gold mineralization during a recent drilling at its Katanning gold project in Western Australia, according to a Tuesday Australian bourse filing.

The results were up to 11 meters at 7.88 grams per tonne grade of gold from 99 meters, including two meters at 41.25g/t gold from 100 meters.

The company said the significant intercepts were returned from a further 77 reverse circulation (RC) and diamond drill holes targeting opportunities for grade uplift within the Central Zone of the project, with drilling along the White Dam-Jackson trend in progress to follow up recent "promising" results.

Drilling has been completed at Nanicup Bridge to underpin a maiden satellite resource, while RC drilling at early-stage regional targets Moulyinning and Kulin is scheduled to commence in late April, the filing added.

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