AuStar reports latest high-grade gold assays

Published at Mar 26, 2018, in Mining

AuStar Gold Limited (ASX:AUL), formerly Mantle Mining (ASX:MNM), has updated the market this morning on the current drilling programme its undertaking at the Rose of Denmark (RoD) gold mine.

Today’s news is the fourth announcement from the company reporting significant assays from the ongoing drill programme at RoD, with highlights including:

• ROD021 1.3m at 45.4 g/t from 0.5m, including 0.4m at 144.5g/t

• ROD021 5.3m at 7.2 g/t from 12m, including 0.5m at 70.1g/t

• ROD021 1.5m at 28.2 g/t from 23.2m, including 0.5m at 50.8g/t

• ROD010 1.45m at 27.2 g/t from 7.4m, including 0.5m at 61.6g/t

• ROD010 1.1m at 9.3 g/t from 42.4m

• 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 AUL management’s confidence as it looks to identify new areas of gold mineralisation within the mine and payable gold zones that were previously thought to be uneconomic by early miners, as well as provide further justification towards a bulk sample programme at RoD.

It should be noted though, that this is an early stage play and investors should seek professional financial advice if considering this stock for their portfolio.

CEO Mr Tom de Vries commented on today’s announcement: “This is the fourth in a series of announcements since January 2018, reporting high grade gold assays from our drill program at Rose of Denmark mine. The continued success of the drilling program provides the company with increasing confidence in its ability to identify a number of high grade gold zones from this mine.

“This is consistent with our broader strategy to develop multiple ore sources within our extensive tenement holdings in the Walhalla to Woods Point gold district.”

Below are ‘schematic geological diagrams’ from the company which show the varying grades at different depths of the holes:

Holes ROD018 and ROD019 were drilled on a north south trajectory in order to “traverse the large engine room dyke bulge,” according to AUL. The company also noted that consistent and significant sulphide mineralization was observed as part of the programme, along with high quartz percentages.

Further, significant runs of anomalous mineralization were encountered which “may signify a shoot within the bulge” — a positive indicator, according to the company, since previous miners judged the dyke bulge as uneconomic. That consideration could well change with bulk-based mining costs that are available to miners today.

AUL continues the diamond drilling at the Rose of Denmark mine, with more assays expected in coming weeks, and a likely bulk sample program in the near-term.



S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Thanks for subscribing!