AuStar reports latest high-grade gold assays
AuStar Gold Limited (ASX:AUL), formerly MantleMining (ASX:MNM), has updated the market this morning on the current drillingprogramme its undertaking at the Rose of Denmark (RoD) gold mine.
Today's news is the fourth announcement fromthe company reporting significant assays from the ongoing drill programme at RoD,with highlights including:
?EUR? ROD021 1.3m at 45.4 g/t from 0.5m, including0.4m at 144.5g/t
?EUR? ROD021 5.3m at 7.2 g/t from 12m, including0.5m at 70.1g/t
?EUR? ROD021 1.5m at 28.2 g/t from 23.2m, including0.5m at 50.8g/t
?EUR? ROD010 1.45m at 27.2 g/t from 7.4m, including0.5m at 61.6g/t
Get the latest articles straight to your inboxkeep me posted?EUR? ROD010 1.1m at 9.3 g/t from 42.4m
?EUR? ROD019 1.3m at 4.8 g/t from 21.1m
The full results are shown in the table below:
Today's encouraging results are a boost for AULmanagement's confidence as it looks to identify new areas of gold mineralisationwithin the mine and payable gold zones that were previously thought to beuneconomic by early miners, as well as provide further justification towards abulk sample programme at RoD.
Itshould be noted though, that this is an early stage play and investors shouldseek professional financial advice if considering this stock for theirportfolio.
CEO Mr Tom de Vries commented on today'sannouncement: "This is the fourth in a series of announcements since January2018, reporting high grade gold assays from our drill program at Rose ofDenmark mine. The continued success of the drilling program provides the companywith increasing confidence in its ability to identify a number of high gradegold zones from this mine.
"This is consistent with our broader strategyto develop multiple ore sources within our extensive tenement holdings in theWalhalla to Woods Point gold district."
Below are 'schematic geological diagrams' fromthe company which show the varying grades at different depths of the holes:
Holes ROD018 and ROD019 were drilled on a northsouth trajectory in order to "traverse the large engine room dyke bulge," accordingto AUL. The company also noted that consistent and significant sulphidemineralization was observed as part of the programme, along with high quartzpercentages.
Further, significant runs of anomalousmineralization were encountered which "may signify a shoot within the bulge" -a positive indicator, according to the company, since previous miners judgedthe dyke bulge as uneconomic. That consideration could well change with bulk-basedmining costs that are available to miners today.
AUL continues the diamond drilling at the Roseof Denmark mine, with more assays expected in coming weeks, and a likely bulksample program in the near-term.
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