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AUSGOLD LTD

ASX: AUC

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Ausgold Limited was formed to utilise some of the latest innovations in geoscience to target areas in Australia prospective for the discovery of gold and copper-gold ore bodies. This work was carried out 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 the acquisition by Ausgold of tenements covering 17,500 square kilometres of ground prospective for gold and copper mineralisation.

Doolgunna Station

Being located adjacent to Sandfire Resources' DeGrussa project area, Ausgold's Doolgunna Station project is prospective for similar volcanogenic massive sulphide (VMS) copper-gold mineralisation.

An independent interpretation of Ausgold's project area by SRK Consulting has confirmed the Company's tenement includes the prospective Narracoota Volcanics (the geological unit hosting the neighbouring DeGrussa one bodies). This interpretation similarly showed that Ausgold's project area covers the continuation of the Jenkins Fault, which appears spatially associated with the DeGrussa / Conductor copper-gold deposits.

Noting that VMS districts on average host 12 deposits, cover an 800 square-kilometre area and contain more that 5 million tonnes of contained metal. Ausgold considers Sandfire Resources' recent discovery of ore bodies totalling 0.5 million tonnes of contained copper may not represent district's total mineral resource.

Boddington South

Ausgold's Boddington South project is located southwest of Perth and covers an area of almost 4,000 square kilometres. This region hosts a number of gold deposits and potentially hosts repetitions of Boddington-style gold mineralisation. Significant copper mineralisation is often associated with these gold deposits. Australia's largest current gold mine, Newmont's Boddington Gold Project (situated northwest of Ausgold's project area), for example, is similarly Western Australia's largest copper deposit with 1.3 million tonnes of contained copper.

Yamarna

Ausgold's Yamarna project is located within the Yilgarn Craton, approximately 125km northeast of Laverton and 370km northeast of Kalgoorlie. The extensive cover of windblown sand across the project area has discouraged previous exploration of this prospective greenstone belt, which potentially hosts both gold and base metal mineralisation.

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.

Cracow

Ausgold's Cracow project is located within 20 kilometres of Newcrest's 1 million ounce Cracow gold mine and 375 kilometres northwest of Brisbane. SRK Consulting finalised an assessment of the project's gold prospectivity during this period and concluded that the intrusive and volcanic rocks within Ausgold's Cracow project area are prospective for gold and copper mineralisation.

More specifically, SRK Consulting stated that the Company's Cracow project potentially hosts epithermal gold mineralisation analogous to Newcrest's Cracow deposit within the Camboon Formation and intrusion related copper-gold mineralisation within the Permian granites and diorites.

Having received independent confirmation of the project's potential to host gold and/or copper-gold ore bodies, Ausgold completed an extensive stream sediment sampling program over its Cracow project area during this period. The reconnaissance stream and soil sampling recently returned eight gold anomalies.

Mine For

gold, copper, nickel

Location of operation(s)

Western Australia, Queensland

Address

Level 14, Parmelia House, 191 St Georges Tce
PERTH, WA, Australia

Phone

+61 8 9424 9300

Email

Website


Last Updated

3/5/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.