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Monday, August 21, 2017 Derek Macpherson

AGLD’s Regional Trenching Program Yields Positive Results


Austral Gold Ltd. (TSXV:AGLD, ASX:AGD) reported initial trenching results from its Amancaya project in Chile. Results were highlighted 2.5m at 9.7 g/t Au and 6.9 g/t Ag at the newly discovered Nueva Vein and 2.3m at 8.1 g/t Au and 6.1 g/t Ag from the Nueva Sur Vein (Figure 1). The company believes that these newly discovered veins have the ability to yield a similar resource to the Central Vein which hosts 497k oz at 8.96 g/t AuEq (1.8 million tonnes). These new veins were discovered as part of the company’s regional trenching program on previously identified targets. The company plans to follow-up these results with a drill program, once the overall exploration program is complete. While these results highlight the longer-term potential of Amancaya, investors are likely to remain focused on the near-term as the company’s production profile is poised to increase with Amancaya ore starting to be processed. In our view, Austral is poised to re-rate towards similar scale peers, as it demonstrates its increased production potential.







Derek Macpherson | VP Mining Analysis
Victoria Ellis Hayes | Associate

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Austral Gold Ltd. - TSXV:AGLD, ASX:AGD - 1,2,4

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