ASX Release 26 March 2018 DRILL PROGRAM AT ROSE OF DENMARK GOLD MINE RETURNS FURTHER SIGNIFICANT HIGH-GRADE GOLD RESULTS AuStar Gold Limited (ASX: AUL) (‘AuStar’ or ‘the Company’) provides the following update in relation to its current drilling program at the Rose of Denmark gold mine: Highlights • This is the fourth announcement of significant assays from the ongoing drill program at Rose of Denmark (‘RoD’) gold mine • Latest significant assays include: • ROD021 1.3m @ 45.4 g/t from 0.5m, including 0.4m @ 144.5g/t • ROD021 5.3m @ 7.2 g/t from 12m, including 0.5m @ 70.1g/t • ROD021 1.5m @ 28.2 g/t from 23.2m, including 0.5m @ 50.8g/t • ROD010 1.45m @ 27.2 g/t from 7.4m, including 0.5m @ 61.6g/t • ROD010 1.1m @ 9.3 g/t from 42.4m • ROD019 1.3m @ 4.8 g/t from 21.1m • These results are part of significant widths identified by the drilling (see table 1.). They increase management’s confidence in identifying: • new areas of gold mineralisation within the mine, and • payable gold zones that were previously thought to be uneconomic by early miners. • Results provide further encouragement to develop a bulk sample at the RoD gold mine. CEO Mr Tom de Vries said “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.”
This was anned the end of March......less than 3 months later..
We have poured gold at our fully owned plant, a working plant that now needs feeding to make sh's money.
We now fully own the site above,,,,Near bonanza grades that will soon be fed into our plant to make US money.
The RoD was a great piece of business by our penny-pinching very capable management team that got the lot for $225k worth of shares that are to be locked away for 12months and cannot be sold on market together with 40 odd million options at 1.5 and 2c conversions so that we can have money moving forward to further develop what management have in mind.
I dont know why i am reading so much anxiety and nervous like statements from holders(i can understand the nay-sayers, but i value all comments)
IMHO this is a great buying opportunity, most thought we would be pouring gold and would of multibagged by now but if we look at this logically and follow what management have done it is all tick,tick,tick so far...
Whats the point of having a working plant with nothing to feed into it???
Things are coming together beautifully, money will be raised when ready to move forward and then it will be all systems go filling the plant and making sh's money....
Now thats a stock i want to be accumulating
Good luck all
AUL Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
