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Gold Assays Drive Ausgold, Legacy Minerals; WhiteHawk Up 20%
Ausgold rose 0.57% on thick gold hits at Katanning. Legacy Minerals jumped 4.17% on a new discovery at Mt Carrington. WhiteHawk surged 20% after a partnership with Adisyn. ASX200 slipped 0.43%.
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The ASX200 slipped 0.43% on Tuesday. Gold-focused miners Ausgold and Legacy Minerals posted gains, while WhiteHawk jumped after a partnership deal.
Ausgold ticked up 0.57%, to 87.5¢. The company reported extensional drilling hits at the Katanning Gold Project in Western Australia. The campaign now covers 58,000 metres of reverse circulation and diamond drilling. Ausgold said the results from the Central Zone and Northern Zone delivered thick, high-grade mineralisation that supports a targeted resource upgrade. The near-term catalyst for the stock remains that resource growth, with further assays expected as drilling continues.
Legacy Minerals rose 4.17%, to 12.5¢, after confirming a new gold discovery at the Mt Carrington project in New South Wales. Final assays from the Mascotte program returned gold grades up to 9.7 grams per tonne over broad intervals. CEO and MD Christopher Byrne said the maiden drilling confirmed a gold-silver system outside the current resource. The find extends the geological potential of the Lachlan Fold Belt tenement, though economic viability would require step-out drilling. The company is planning the next phase of exploration.