Ausgold Limited announced that the Company is exploring options to deliver a significantly larger operation for the 100%-owned multi-million-ounce Katanning Gold Project (KGP) in Western Australia. Due to the scale of gold mineralisation identified at the KGP and ongoing exploration success, Ausgold has commenced a Scoping Study to assess the potential to support a larger throughput processing plant. The Scoping Study will build on the economics developed within the Pre-feasibility study (PFS) and consider a range of scenarios based on higher processing throughputs at 4Mt, 5Mt and 6Mt per annum supported by different mining schedules and economic cut-off grades.

The Scoping Study will be completed in parallel with the current Definitive Study which was announced to ASX on 11 January 2023. This assumes a 3Mt annual through put which delivers 105 Koz per annum following the findings of the PFS. New exploration targets developed within the KGP and environs continue to demonstrate the multi-million-ounce gold potential of the Project.

With the 25,000m multi-rig drill program well advanced, gold mineralisation has been intersected over a 4km along strike from the KGP within the Southern and Northern Zones and further drilling will test repeats east and west of the Central Zone and beneath the current Resource areas. At Datatine two diamond holes have been drilled to test for Resource extensions down plunge, and assays are awaited.