Ausgold Limited (ASX: AUC) is a gold exploration and development company which is aiming to join the ranks of Australia’s mid-tier gold producers over the next few years through the development of its flagship Katanning Gold Project in south-west WA.

The Katanning Project has a current Mineral Resource Estimate (MRE) of 89Mt at 1.06g/t Au for 3.04Moz of contained gold, making it the largest free-milling, open cut gold development project in WA.

Importantly, 80% of the total contained ounces are hosted within the higher confidence Measured and Indicated Resource categories, providing a robust foundation for ongoing development studies.

Ausgold completed a positive Scoping Study for a 5Mtpa mining operation at Katanning in May 2023, which outlined average gold production of 155,000ozpa over the first six years and 136,000ozpa over the 10-year evaluation period, at an average head grade of 1.05g/t Au.

These project metrics underpinned a pre-tax Project Net Present Value of $819M and post-tax Internal Rate of Return of 46%.

A Definitive Feasibility Study is now well advanced and on track for completion in the first half of 2025, with a potential Final Investment Decision (FID) targeted for Q4 2024/Q1 2025.

In parallel with ongoing feasibility studies, Ausgold is also progressing exploration programs aimed at further expanding its Mineral Resource base in the Katanning district. The Company owns >4,000km2 of the Katanning Greenstone Belt in the south-west corner of the Yilgarn Craton, which hosts some of Australia’s largest gold deposits (including Australia’s largest gold mine – Boddington) with the Company’s western tenements also lying withing 40km of the world’s largest hard rock lithium mine (Greenbushes).