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Ausgold holds a tenement position of 7,500 square kilometres in south Western Australia covering a strike length of 250 kilometres east and south of the 30 million ounce Boddington Gold Deposit and surrounding the Katanning Gold Project.
Katanning Regional Project tenement holding with greenstone derivative lithologies and gold targets highlighted
CONFIRMATION OF A NEW MAJOR GREENSTONE BELT
Ausgold’s geological interpretation of the Katanning Regional Project has utilised 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.
SIGNIFICANT GOLD TARGET GENERATION
Following on from work completed in 2011, 54 gold and associated base metal targets have been generated. This follows a regional survey collecting over 2,000 geochemical samples outside of the Katanning Gold Project and supported by fresh geophysical analyses that has also produced a new geological interpretation for the belt.
GEOLOGICAL INTERPRETATION AND SETTING
The Katanning Regional Project exhibits a complex structural setting comprising crustal scale faults to tap mantle fluids, the recognition of probable thermal centres capable of driving deep fluid circulation cells resulting in large alteration systems, and distinct chemical variations within the rock sequences, combined with specific structural locations that provide a focus for mineral accumulation.
Exploration confirmed that such areas are more prevalent than first thought within the tenement block, and are directly associated with significant and cohesive gold and base metal rock, soil and stream anomalies generated by Ausgold sampling.
Collectively these attributes suggest that Ausgold’s tenements host a package of rocks derived directly from original greenstone hosts, with a structural setting similar to that of other major gold producing greenstone belts.
Regional ionic stream sampling identified 54 catchment positions (outside of the Katanning Gold Project) which are clearly anomalous in gold and base metals. Importantly key ‘signature elements’ diagnostic of two different gold mineralisation styles recognised at the Katanning Gold Project, were also identified coincident with, and in support of the catchment anomalies. Integration of regional stream and soil geochemistry with geophysical data continues and is expected to contribute to drill target ranking and the regional genesis study.
This greenstone belt is almost owned 100% by Ausgold and the Company believes there is demonstrable potential for multi-million ounce deposits within a major new Archaean gold camp.
Geological setting of the Katanning Gold Project in relation to recognised greenstone belts and gold deposits