Dec. 27, 2022
Austin Gold Corp. (NYSE-American: AUST) — currently trading for less than cash at around US$0.75 per share — has plans to drill multiple gold and gold-silver exploration projects in Nevada and Oregon starting in early-2023.
At Fourmile Basin in Nevada, Austin Gold has just commenced an initial drilling phase at this epithermal gold-silver project where the main target is the hypothesized underground source of gold-silver mineralized boulders. The property is situated 30 miles east-northeast of the historic Tonopah mining district and about 35 miles southeast of Kinross’s world-class Round Mountain Mine (+18 million gold ounces).
At the Miller gold-silver project in Nevada’s prolific Carlin Trend, AUST is pursuing early-stage exploration activities, including a program of geologic mapping, surface rock-chip sampling, and possible geophysics followed by drilling slated for Q2 2023.
At the Stockade Mountain gold-silver project in southeastern Oregon, Austin Gold is advancing permitting with the expectation to have the drills turning in Q2 2023. The property is a large, classic epithermal alteration system associated with rhyolite intrusions focused along a major NW-trending structural corridor where deeper drilling has the potential to unlock further gold-silver mineralization.
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At the Kelly Creek gold project, located north of the Battle Mountain Mining District on the northern margin of Nevada’s Battle Mountain-Eureka trend, AUST completed some initial drilling earlier in the year and is currently mapping out next-steps in the exploration process. The project is situated near the Lone Tree Mine (~4.2 million gold ounces) and the Marigold Mine (~3.2 million gold ounces).
And finally, at the Lone Mountain gold project, located northeast of Nevada’s Carlin Trend, the Austin Gold team has identified favorable host rocks and favorable alteration with geological data compilation and interpretation underway. The company expects to conduct some initial drilling on the property in Q3 of next year.
So as you can see, plenty of shots-on-goal in 2023 for AUST shareholders in some pretty good mining jurisdictions in the western United States. The company is well cashed-up and is led by an incredible group of geologists and mine-finders as you’re about to discover in our exclusive interview coming right up!
Our own Gerardo Del Real of Junior Resource Monthly took the opportunity to catch up with Austin Gold Consulting Geologist Robert Hatch to go over the multitude of drilling projects lining up for AUST shareholders in 2023. Enjoy!
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Editor, Resource Stock Digest