Ausgold Limited (ASX: AUC)
Ausgold Ltd (ASX: AUC) progresses during the March 2025 quarter at its 100%-owned Katanning Gold Project (KGP) in Western Australia. The Feasibility Study (FS) remains on schedule for completion in June 2025, with multiple critical components finalized over the period. The company is concurrently progressing required environmental approvals, with documentation for both State and Federal referrals well advanced. Fieldwork during late summer 2024–25 was completed to gather updated data for flora, fauna, and habitat assessments, which now inform mine closure and rehabilitation planning. Technical studies such as air and noise modelling, hydrogeologic dewatering, and traffic and visual impact assessments began integration into a formal referral submission, due for lodgement with the WA Environmental Protection Authority in Q2 2025.
Exploration and in-fill drilling continued across the Katanning project, yielding strong gold intercepts, particularly at the Dingo and Central Zone deposits. At Dingo, all recent drill holes returned mineralised intervals, with highlights such as 10m @ 10.55g/t gold (including 2m @ 50.57g/t) and 22m @ 2.16g/t (including 14m @ 3.03g/t), indicating mineralisation beyond previously defined resource envelopes. In the Central Zone, shallow drilling confirmed robust near-surface gold, including standout results of 1m @ 94.20g/t from just 3m depth and 14m @ 4.58g/t from 29m. These outcomes reinforce the project's strong gold endowment and point to near-term resource growth potential.
The company also launched diamond drilling at the Datatine satellite prospect within the Northern Zone, aiming to extend the resource base. The company closed the quarter with $14.9 million in cash, providing a strong financial foundation to advance the KGP. Through feasibility, permitting, and drilling all progressing, Ausgold remains on track to make a Final Investment Decision in early 2026.
AIC Mines Limited (ASX: A1M)
AIC Mines Ltd (ASX: A1M), on 29 April 2025 announced their quarterly report for the period ending 31 March 2025.
During the March 2025 quarter, AIC Mines Ltd (ASX: A1M) Mines produced 3,004 tonnes of copper in concentrate at its Eloise Copper Mine, with an all-in sustaining cost (AISC) of A$5.49/lb and an all-in cost (AIC) of A$5.87/lb. Sales totalled 2,314 tonnes of copper along with by-product gold and silver, generating $12.6 million in operating cashflow. However, due to heavy rainfall and related transport delays, $9.7 million worth of concentrate remained unsold at the quarter’s end. At 31 March 2025, the company held $30.9 million in cash and 2,505 dry metric tonnes of copper concentrate awaiting shipment.
AIC Mines progress in growth and development, particularly at the Jericho and Eloise deposits. Updated Ore Reserves now stand at 6.1Mt grading 1.8% Cu and 0.4g/t Au at Jericho, and 2.8Mt at 2.3% Cu and 0.6g/t Au at Eloise, reflecting strong increases in contained metals. Engineering procurement for the planned processing plant expansion at Eloise attracted strong contractor interest, with final negotiations underway and contract award anticipated in May 2025. This upgrade will boost plant capacity from 725,000tpa to 1.1Mtpa, aligning with AIC’s production growth plans.
Exploration remained active with successful drilling at the Jericho J1 Lens identifying mineralisation nearer to existing infrastructure, potentially enabling faster production ramp-up. New mineralisation, named the Tucker shoot, was confirmed between the Billabong and Swagman zones on the J2 Lens. The 2025 drilling campaign began in March with a focus on growing Indicated Resources at Matilda North and Jolly to support early-stage mining operations.
(Source: Company Announcements)
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