Ausgold has fielded strong infill and step-out results from the fresh batch of 55 assays, both extending gold mineralisation down-dip beyond the current resource boundary and confirming grades within the resource model.

Several infill results exceeded those predicted by current resource modelling, grading up to 24m at 0.89g/t Au from 69m and 4m at 2.8g/t Au from 50m.

AUC executive chair John Dorward said the company looks forward to delivering more results from the ongoing drilling program over the coming quarters, with the goal of producing an updated mineral resource estimate once it’s fully complete.

“These results continue to demonstrate the quality of the Katanning gold project, reinforcing the robustness of the existing mineral resource and supporting confidence in the current mine plan, while also highlighting the project’s straightforward growth potential,” he said.

The remaining infill results of note included:

  • 20m at 1.00g/t Au from 137m;
  • 16m at 1.16g/t Au from 93m;
  • 13m at 1.13g/t Au from 119m;
  • 11m at 1.12g/t Au from 204m; and
  • 4m at 2.8g/t Au from 50m.

AUC recently mobilised a third drilling rig to the Katanning site, accelerating its 44,000-metre program while also obtaining metallurgical samples.

The company has already wrapped up about 13,031 metres of drilling over 94 drill holes, mostly within the Central Zone around early mine life areas.

The drill rigs will soon test down-plunge targets within the Central and Northern Zones, similar to those identified in recent step-out drilling around the mineral resource boundary.

AUC’s step-out drilling results down-dip from the current 2.44Moz resource included:

  • 10m at 2.24g/t Au from 346m, including 2m at 9.45g/t Au from 346m;
  • 6m at 1.91g/t Au from 33m, including 3m at 3.25g/t Au from 33m; and
  • 13m at 0.75g/t Au from 296m, including 1m at 4.69g/t Au from 298m.

Ausgold says these results extend the mineralised system down-dip beyond the current resource and mine design envelopes, potentially feeding into an upgraded mineral resource estimate.

The company is targeting a final investment decision for Katanning by the second quarter of this year and an updated mineral resource estimate by the third.

In the meantime, AUC expects to provide further drilling results from the Katanning project’s Southern, Central and Northern Zones, including further extensional drilling results aimed at growing the open-pit resource and assessing underground potential.

Drilling will also cover regional targets, generating results for the Nanicup Bridge and Kulin prospects.