Ausgold's Yamarna project is located within the Yilgam Craton, approximately 125km northeast of Laverton and 370km northeast of Kalgoorlie.
The extensice cover of windblown sand across the project area has discouraged previous exploration of this prospective greenstone belt, which potentially host both gold and base metal mineralisatyion
Earlier this year, Ausgold completed an aeromagnetic interpretation of its Yamarna project to better define the bedrock geology and identify broad target areas. This interpretation revealed a thick sequence of buried ultramafic rocks within the southern part of the tenement.
A supsequent soil sampling program identifed coherent copper-in-soil anomaly (peak assay 123ppm Cu) immediately above this ulramafic sequence. encouraged by the 2 kilometre long by 600 metre wide coherent copper-in-soil anomaly within this project, Ausgold completed a detailed airbourne electromagnetic (AEM) survey over the southern half of the tenement.
This AEM survey highlighted seven strong conductive targets within the project's ultramfic sequence (Figure 4) and up to a dozen second order conductive targets. At least one of the strong AEM targets coincides with the copper-in-soil anomaly.
Geophysicists at Southern Geoscience Consultants (SGC) recently completed an analysis of Ausgold's Yamarna AEM data and modelled drill targets for six of the strong anomalies. Ausgold is currently obtaining the necessary approvals to drill these targets.
Ausgold has planned group electromagnetic (EM) surveys over the remaining AEM anomalies. These EM survery will enable the Company to better define motr drill targets within the tenement and are anticipated to commence in September.