AuStar Gold (ASX: AUL) Regional Exploration Update for 2021

AuStar Gold Limited (ASX: AUL) has provided the following update regarding recent regional exploration activity within the Company’s extensive exploration licenses, surrounding its flagship Morning Star gold mining operation at Woods Point, Victoria.

Highlights:

• Approvals for reconnaissance exploration work across the company's significant ELs 6361 and 6364
• Commenced a 1500 sample soil geochemistry program in two high-priority locations
• Highly encouraging surface sampling results have been received at the Leviathan prospect, with results ranging from 0.05ppm Au - 31.2ppm Au
• Work plan for Wallaby/Eldorado prospect to be submitted to regulators by end of january
• Geology team grows with additional hires in December

Fig (1): Location of Morning Star Gold Mine and key mineral projects

This region of Victoria, the Walhalla-Woods Point goldfields, has produced more than 6Moz Au. Within this belt, the company holds a tenure position of approximately 670km² with historical production of at least 1.7Moz Au.

The Morning Star mine historically produced ~857koz gold at an average grade of 26.5g/t Au.

High-Grading of key Exploration Prospects:

Following on from the August 2020 release, the evolving regional exploration has commenced in early December 2020 after approvals for reconnaissance exploration and increasing in the geology team. Key objectives have been to commence a regional geochemistry soil program of 1500 samples to identify anomalous zones for potential mineralisation and identification of undercover dyke systems on a regional structural belt scale and prospect scale.

Prospect scale exploration will also involve surface and underground mapping of the historical workings, rock chip sampling along with 3D modelling of the prospects...

Read the full announcement here.

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