Ausgold’s High-Grade Hits Raise Stakes Ahead of Katanning Investment Decision

Katanning Gold Project Delivers Consistent High-Grade Results

Ausgold Limited (ASX: AUC) has released compelling assay results from its ongoing 19,000-metre Reverse Circulation (RC) drilling campaign at the Katanning Gold Project (KGP) in Western Australia. The latest data, comprising 95 holes totaling 5,887 metres, includes 85 holes at KGP and 10 holes at the nearby Woodanilling Project. The drilling continues to validate the presence of strong near-surface gold mineralisation within the Central Zone of KGP, a key area targeted for early mining operations.

Noteworthy intercepts include an extraordinary 1 metre grading 94.20 grams per tonne (g/t) gold from just 3 metres depth, alongside 11 metres at 2.30 g/t from 25 metres in hole BSRC1739. Other significant results feature 14 metres at 4.58 g/t from 29 metres and multiple intercepts exceeding 1 g/t over substantial widths. These results reinforce the geological model and suggest robust grade continuity, critical for resource confidence and mine planning.

Woodanilling Project Shows Early Promise

Inaugural drilling at the Woodanilling Project, located 40 kilometres west of KGP, has yielded encouraging high-grade gold mineralisation. The standout result of 3 metres at 6.37 g/t gold from 27 metres depth in hole RHRC0024 signals the potential for a significant new gold discovery within Ausgold’s extensive 3,500 square kilometre tenement package. This initial success has prompted plans for further auger soil sampling and follow-up drilling to delineate the extent of mineralisation along the 2-kilometre gold-in-soil anomaly at Martling prospect.

Strategic Drilling Campaign Targets Resource Growth and De-Risking

The current drilling program is designed with three strategic objectives: to de-risk the existing mineral resource areas expected to feed early mining, to expand the resource base at KGP, and to explore regional prospects for new discoveries. To date, Ausgold has completed 8,185 metres of drilling out of the planned 19,000 metres, with further results anticipated from the Southern Zone of KGP and other regional targets.

Grade control drilling within the Jinkas-White Dam lodes has been executed at close spacing to refine orebody characteristics and support a final investment decision targeted by the end of 2025. Meanwhile, resource definition drilling at the Jackson lodes has extended mineralisation by 400 metres closer to surface, enhancing potential mine life and pit optimisation.

Looking Ahead: Expanding the Footprint

Ausgold is advancing exploration with upcoming RC drilling at Lukin, aiming to extend the Southern Zone resource over a 4.5-kilometre strike. Concurrently, drilling has commenced at Grasmere, a target analogous to KGP, with results expected soon. Additional drilling programs are planned along the Stanley Thrust Trend, testing multiple prospects including Moulyinning, Stanley Hill, McDougall, and Zinger, further underscoring the company’s commitment to unlocking value across its district-scale landholding.

Executive Chairman John Dorward highlighted the significance of these results, stating, "It is pleasing to see the in-fill drilling program returning gold grades and widths in line with, and in some instances exceeding, expectations as we progress the Katanning Gold Project towards a final investment decision. It is also very exciting to see a high-grade gold intersection in the first ever RC drilling program at Woodanilling, providing an indication of the enormous regional potential across our district-scale landholding."