Austar Gold Limited Reports Production Results for the Month of February 2020; Announces Exploration Update
Mining continued from the Stones and McNally reefs in February with mining at Stones expected to be completed mid-March. The McNally reef structure continues to extend down-dip with mining activity concentrating on increasing overall productivity through multiple working areas within the development/stope zone. Grades recovered from development in February were somewhat less than previous months due to the
development being positioned in areas of lower geological confidence. Grades will increase over the coming months as stoping progresses especially with waste being left behind from "T-bone" or high-
grade stoping. The overall grade from McNally's and Stones has averaged 11.7 g/t. The development at Decline # 1 is also progressing along the eastern boundary of Panel 5 East. Mining continued in Panel 5 to the west with a high grade zone along the lines of faults that strike north and south. Visible gold has been observed at multiple locations in McNally reef headings with a recent visually identified layer of gold on the surface of slickenside fault that cuts through the dyke overhang in Panel 3 presenting a potential new target for testing. Exploration: An in-mine drilling program has been designed and approved by the Board. Work continued during the
month to engage a suitable underground drilling contractor to complete the program and to further finalise drilling targets and meterage. An announcement will be made to shareholders when this campaign commences. Continued in-mine drilling success is key to continuing and growing production at Morning Star.