Burong Prospect, WA
(AUC 100% interest)

AC drilling at the Burong prospect has identified a new mineralised trend with a coherent >100 ppb gold anomaly extending over a 1.2km strike length. This gold anomaly is closely associated with sulphidic mafic and ultramafic granulites, which are known to host gold mineralisation at the KGP deposit. This new mineralised trend remains open along strike and is parallel to a major regional fault, which extends eastward towards the Datatine Resource.

AC drilling to test gold-in-soil anomalies (> 20 ppb gold) intersected mineralisation over a strike length of 2,600m, which remains open. This northeast trend is evident in aeromagnetic and ground gravity images. The northeast trend corresponds to a gold-in-soil anomaly, with past AC drilling having confirmed this new mineralised trend, with significant intercepts of > 100 ppb gold over a strike length of 850m, including three bottom-of-hole intercepts of > 500 ppb gold (> 0.5 g/t gold).

In March 2020 Ausgold completed an initial RC drill program of 5 holes at Burong, which was co-funded by the Western Australian Exploration Incentive Scheme (EIS). Reconnaissance RC drilling at Burong has intersected bedrock gold mineralisation in all holes including:

- 1m @ 6.47 g/t Au from 101m (end of hole) in BSRC0950
- 7m @ 0.49 g/t Au including 1m @ 1.49 g/t Au from 125m in BSRC0952

For further information see ASX Announcement 7 May 2020


Figure 1 - Location of Recent Drilling at Burong and Jinkas North shown in red


Figure 2 - RC drilling within the Burong prospect shown against aeromagnetic image


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