- Ausgold (AUC) commences its definitive feasibility study (DFS) on the Katanning gold project in Western Australia
- The company engaged GR Engineering Services to complete the study, which is expected to complete in Q3 CY2023
- In parallel, Ausgold has completed over 9000 metres of drilling from its 25,000-metre drilling program designed to further expand the KGP Resource
- The completed pre-feasibility study (PFS) completed in August 2022 will form the basis of the DFS
- Shares in Ausgold are up 2 per cent, trading at 5.1 cents at 3:54 pm AEDT
Ausgold (AUC) has commenced its definitive feasibility study (DFS) on the Katanning gold project in Western Australia.
The company had engaged GR Engineering Services to complete the study, which is expected to complete in Q3 CY2023.
Managing Director Matthew Greentree said moving forward on the DFS sends a clear signal of the company’s intent to become Australia’s next mid-tier gold producer.
“The team is working through a number of optimisation opportunities identified in the pre-feasibility study (PFS) to optimise the project size ultimately supporting a project financing process later this year.”
In parallel, Ausgold has completed over 9000 metres of drilling from its 25,000-metre exploration drilling program that is designed to further expand the KGP Resource and test a number of regional exploration opportunities.
The PFS completed in August 2022 will form the basis of the DFS.
Key highlights of the PFS include a maiden probable ore reserve of 32 million tonnes at 1.25 grams per tonne gold for 1.28 million ounces and average annual gold production of 105,000 ounces over and 11-year mine life using simple open cut mining methods.
As a part of the DFS scope, Ausgold has identified a number of opportunities to optimise the planned operation, including a potentially larger project.
Shares in Ausgold were up 2 per cent, trading at 5.1 cents at 3:54 pm AEDT.