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Ausgold Limited is an exploration and development company based in Perth, Western Australia and was formed to utilise some of the latest innovations in geosciences to target areas in Australia prospective for the discovery of gold and copper-gold ore bodies. This work was carried out initially by the Centre for Exploration Targeting, an internationally renowned group affiliated with the University of Western Australia and Curtin University, using a team of highly qualified geoscientists with extensive experience in gold mineralising systems and exploration targeting.
The result was Ausgold's acquisition of tenements covering 17,500 square kilometres of ground prospective for gold and copper mineralisation.
These tenements cover a range of mineralising systems in known and emerging mineral provinces throughout Australia, where potential exists for new gold and copper discoveries.
This successful targeting by Ausgold led to a major gold discovery at its flagship project, The Katanning Gold Project (“KGP”) located in Katanning which is 275km south west of Perth.
So far gold mineralisation has been identified over 20 kilometres of strike and intensive drilling programmes to test this mineralisation and expand upon deposits already discovered have been completed. The Katanning Gold Discovery sits within the greater Katanning Regional Project covering 7,500 square kilometres of tenure to the east and south of Newmont's 30 million ounce Boddington Gold Project.
Ausgold has now identified a major new Archaean greenstone belt, 200 kilometres in length over its 100% controlled tenure.
NEW MAJOR GREENSTONE BELT
Geological interpretation has been conducted using new generation geophysical and geochemical data. Coupled with an exhaustive review of all previous exploration data, the collection by Ausgold of over 1,000 stream samples has confirmed the presence of a major new mineralised greenstone belt 200 kilometres in length similar to other greenstone belts within the Yilgarn Province and with attributes of the Giant Archaean gold camps (eg. Kalgoorlie, Timmins).
Greenstone lithologies or derivatives thereof typical of the Yilgarn Craton have been geochemically mapped over 200 kilometre strike length, along with crustal scale structures, probable thermal centres capable of driving large alteration systems and a large endowment of gold targets with multiple styles of mineralisation have also been recognised.
Over 54 gold and associated base metal targets have been generated following a regional survey collecting over 2,000 geochemical samples outside of the Katanning Gold Project and supported by geophysical analyses that has also produced a new geological interpretation for the belt. Recognition of this new belt now provides the Company with the opportunity to explore for various styles of gold and base metal mineralisation that typically occur in greenstone belts elsewhere in the Yilgarn block (eg. Kalgoorlie, Boddington).
At the same time and as a result of Ausgold's exploration targeting, highly prospective ground was identified and acquired at Yamarna, Cracow and Doolgunna Station.