Ausgold (ASX:AUC) said reverse circulation drilling across four key regional prospects intercepted zones of gold mineralization near the firm's flagship Katanning gold project in Western Australia, supporting the potential for a regional network of satellite deposits, according to a Wednesday Australian bourse filing.
The company intersected wide and high-grade gold zones, including 10 meters at 4.8 grams per tonne grade of gold from 23 meters, the filing said. It also intersected broad mineralized zones from the Stanley Hill, Moulyinning, and McDougalls prospects.
The current drilling program is ongoing, and results from diamond drilling targeting high-grade extensions at the project are expected later this quarter.
The company's shares fell almost 1% in recent Wednesday trade.
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