Ausgold capitalises on WA exploration scheme

Ausgold has secured a $150,000 grant through the Western Australian Government’s Exploration Incentive Scheme (EIS), which will be used to conduct drilling activities at its Katanning gold project.

The company’s application focuses on the Datatine prospects and the Dingo-Lukin trend on another tenement within the Katanning project, which have significant gold mineralisation. It meets the EIS’s co-funded exploration drilling program, which provides up to 50 per cent of the cost of innovative exploration drilling projects.

Last month, the WA Government announced plans to continue funding the $10 million a year EIS following an increase in mineral exploration activities. The EIS, which has several programs that promote resource exploration in the state, has contributed to at least 25 new discoveries in the state.

The planned drilling at Katanning, which is part of a larger program to start at the project in October 2017, will test coincident electromagnetic and geochemical anomalies at the site.

Ausgold CEO Matthew Greentree said, “As a Western Australian focused explorer, we are pleased the state government has continued to demonstrate its support for the EIS scheme, which will allow Ausgold to test geological concepts at our Katanning gold project.”

“The two prospects selected for the EIS drilling have coincident geophysical and geochemical anomalism combined with a favourable structural setting for gold mineralisation. We look forward to drilling them both as part of a larger drilling program to be undertaken later this year.”