Ausgold has secured a farm-in and joint venture (JV) agreement with Critica to acquire a majority interest in an exploration licence located near the Kulin gold project in Western Australia.
The tenement, E70/5077, sits 75km north of Ausgold’s flagship Katanning gold project and captures the northern extension of the Yandina Thrust, a fertile geological structure that hosts the Griffins Find and Tampia gold mines.
It is also near other exploration assets such as Duggan and Nanicup Bridge Zinger.
“The farm-in to E70/5077 is a strategic step in expanding our regional footprint across the eastern Katanning Greenstone belt,” Ausgold executive chairman John Dorward said.
Trenching across these high-priority targets delivered strong near-surface results, including 31m at one gram per tonne (g/t) of gold and 20m at 0.60g/t gold.
Despite these outcomes, the area remains largely untested by drilling, presenting a significant opportunity for discovery.
Covering 106km², the tenement hosts a 3km long gold-in-soil anomaly with values above 10 parts per billion (ppb), including two central bullseye targets that each extend 600m and return peak values of up to 399ppb.
Ausgold plans to commence its maiden drill program at E70/5077 in the second half of the 2025–26 financial year, following submission of the Program of Work in the first quarter.
Under the agreement, Ausgold can earn up to 70 per cent of E70/5077 over a period of three and a half years by spending $250,000 within 18 months to gain a 51 per cent stake, followed by a further $360,000 over the next 24 months to increase its holding to 70 per cent.
Critica will retain a 30 per cent contributing interest and may convert to a 1.5 per cent net smelter royalty at a decision to mine.
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