STTCOMP AUL FA LONG
Cash 855k
Gold explorer producer plant refurbished ready to crank
Morning Star Gold Project - the Company holds a 95% interest in Morning Star Gold NL, which in turn owns the Morning Star high-grade gold project. The Morning Star project has a number of positive characteristics which demonstrate its potential to create value for AuStar shareholders:
For information on the existing resource, please refer to the report entitled “910,000 Ounces Gold JORC Resource” created on 30 July 2008, which is available to view at www.asx.com.au under ASX code MCO;
An 80,000 tonne per annum processing plant on site requiring minimal upgrade to recommence processing;
Mains power at the site (500 KVA line); A refurbished shaft (down to 300 metres below surface) with new winder;
An existing paste plant attached to the mill for environmentally-friendly in-mine disposal of tailings; AuStar is the dominant landholder in the district with 667 km2 under tenement in a large region of historically-mined high grade reefs; and
A local and corporate team with significant experience in the development, construction and mining of high grade underground gold deposits
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.”
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