Au Gold selects first two drill targets at Havelock
(TheNewswire)
Vancouver, British Columbia – TheNewswire - 16 September, 2026 – Au Gold Corp (TSXV: AUGC) (the “Company” or “AUGC”) is pleased to provide full details on the rationale behind the first two high-priority diamond drill targets at its Havelock Gold-Antimony project in Victoria, Australia.
-
McFarlane’s - diamond drilling will systematically target the down-plunge continuation of the best gold-antimony mineralization interpreted from reconstructed historical mine records dating back to the 1880’s (see August 31, 2026 press release). High-grade gold and antimony were historically mined at this target to a depth of 350 feet (107 metres (“m”)).
-
Shaw’s No.1 North - diamond drilling will systematically target the region below the 180 foot (55 m) level of the historic mine to test continuity of mineralization and establish potential plunge geometry of mineralized shoots. Drill holes will also test the parallel reef east of the main Shaw No. 1 workings.
Marc Blythe, Founder & CEO of Au Gold, comments, “We are extremely excited to have identified these two high-priority targets along the Shaw-McFarlane Trend which was a productive gold belt in the 1800’s. The first targets announced in this release are the McFarlane historical gold-antimony mineralization and the nearby 514 ounces of gold reportedly recovered from the Dam target in 2010, both of which initially drew AUGC to this project.”
McFarlane Target
The McFarlane target initially drew AUGC to the Havelock project with records from the 1880’s describing ultra-high grade parcels of quartz being mined and processed with gold grades in the multi-ounce per ton range. Based on historic records, the average grade of material treated is estimated to be about 23 g/t gold. Mining ceased when abundant antimony (stibnite) was encountered at the lower levels in the mine, mixed with the gold in quartz, combined with difficulties pumping out ground water.
Modern technical literature suggests high grade gold in association with abundant antimony in Victoria can be an indicator of an epizonal gold system. Other epizonal gold systems in Victoria include Fosterville (Agnico Eagle), Sunday Creek (Southern Cross Gold) and Costerfield (Alkane Resources). Each of these epizonal systems has demonstrated significant depth potential (more than 1km).
The McFarlane’s long section compilation is illustrated in Figure 1.
Click Image To View Full Size
Figure 1
McFarlane’s mine is the most northerly of the significant workings along the SMT. The plan view in Figure 1 shows the main mine levels (180’, 250’ and 350’) from east to west which infers a steep westerly dip of the gold bearing vein(s). The detailed long section illustrates the extent of the workings along a 230 m strike length to a maximum depth of 107 m. Gold bearing reef mineralization was documented throughout the mine workings. From a drill targeting perspective, the most interesting quartz vein widths are depicted by yellow stars with the mine manager’s comments in quotes. Reef (vein) thicknesses are believed to be accurate and the mineralization is described only in a qualitative manner by the amount of visible gold and other sulphide minerals present.
Select mine manager records documenting the greatest thicknesses and occurrences of visible gold are interpreted to form a southerly plunging shoot up to 60 m wide at the base of the southern end of the workings. The 350’ level (107 m) also recorded some of the thickest vein dimensions of the entire trend at 36” (0.91 m). The occurrence of antimony mineralization is best documented in the 350’ (107 m) level where it is described as being much larger than anticipated, presumably compared to the exposure in the 250’ level. This exposure on the 350’ level is documented as 25’ (7.62 m) long which is interpreted to represent the drive length of the exposure. No orientation data is provided in the historical notes but it is currently interpreted as part of the plunging reef system. AUGC‘s phase 1 diamond drilling will systematically target the down plunge extent of the gold and antimony mineralization from the 350’ level (107 m).
A series of drill sections are also designed to test between the mine workings and the Dam target where 514 ounces of gold were reportedly recovered in recent times. AUGC believes the gold-in-quartz (previously reported) from the Dam target may represent a parallel reef system east of the main workings. Also of note is a parallel reef documented 24 m west of the main workings which was encountered in an exploration crosscut but not followed up for development. This reef discovery is described in the mine manager’s notes as a “strong body of laminated quartz 2 feet thick, highly mineralized and throwing out a strong body of water1”.
_________________________
1The company interprets ‘throwing out a strong body of water’ to mean ground water was encountered when the quartz reef was intercepted.
Shaw’s No.1 North Target
The Shaw’s No. 1 mine lies in the central part of the line of significant workings on the SMT. It is a single level mine with a drive at a depth of 180’ (55 m) along a strike length of 140 m. General long section position, plan view and detail long section attributes are shown in Figure 2.
Click Image To View Full Size
Figure 2
Similar to McFarlane’s, gold bearing reef mineralization was documented throughout the majority of the workings at Shaw’s No.1 and the select attributes denoted by the stars on Figure 2, are the mine manager’s records of the thickest and most well mineralized portions of the system.
The plan view map illustrates a parallel mineralized reef roughly 10 m east of the main Shaw No. 1 workings that is believed to have been worked in a lesser capacity by earlier miners. This parallel reef was encountered by an eastern crosscut shown on the detailed long sections.
The mineralized system at Shaw’s No.1 strikes north and is interpreted to dip steeply to the west. The strongest mineralization documented historically covers a horizontal span at the 180’ level (55 m) of approximately 55 m. Diamond drilling by AUGC will systematically target the region directly beneath this portion of the 180’ level to determine continuity of mineralization and establish potential plunge geometry of mineralized shoots. Drill holes will also test the parallel reef east of the main Shaw No. 1 workings.
Next Steps
AUGC continues to prepare for diamond drilling on the Shaw – McFarlane Trend and other peripheral targets.
The Company continues to engage with the community, in particular private landowners within areas of interest on the project. Both drill targets identified in this release require permission from private landowners. AUGC is in active discussions with both parties regarding access.
Historical Records
AUGC cautions that the historic mine reconstruction work has relied on records which pre-date the introduction of NI 43-101. The reconstruction involved collating public records, comprising public company disclosures and newspaper articles, primarily from the late 1800’s and sorting them chronologically. Some of these records are online while others are only available at certain repositories on microfilm. AUGC reminds the reader that no mineral resources exist on the project and there is no certainty that exploration will result in the definition of mineral resources, despite the reported historic production.
A visual representation of each individual mine of significance has been rendered from these records. The reader is cautioned that the information may contain inaccuracies and may be incomplete in areas. Laboratory analyses were not carried out during this era and comments on the quality of material mined are therefore subjective and based on visual inspection. The language used reflects the era in which the work took place. Tonnages of material mined and treated are detailed in the historic records, along with the number of ounces of gold produced, which were generally disclosed on a quarterly basis.
The widths of gold-bearing quartz veins encountered in these historic mines has often been recorded and ranges from 3” to 3’6” (0.075 – 1.07 m). AUGC has relied upon these historic disclosures and reconstructions to interpret its high-priority phase 1 drill targets. It should be noted that even with potential deficiencies in the historical documentation, the level of detail is considered invaluable.
Qualified Person
Technical information in this press release was prepared under the supervision of Mr. William Wengzynowski, P.Eng., a Qualified Person as defined by NI 43-101. Mr. Wengzynowski is AUGC’s Exploration Manager.
For further information, please contact:
Au Gold Corp
Marc G. Blythe, MBA, P.Eng., President & Chief Executive Officer
David Jan, Investor Relations
1-888-807-4566
About Au Gold
Au Gold Corp (TSXV: AUGC) is a gold exploration company focused on advancing its flagship Havelock gold-antimony project in the Victorian Gold Fields in Australia and the Ponderosa gold project in the Spences Bridge Gold Belt in British Columbia, Canada. More information at www.AuGoldCorp.com
Cautionary Note
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things, future exploration activities including drilling on the Project.
These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. Such risks and uncertainties include, among other things, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the TSX Venture Exchange), changes in laws, regulations and policies affecting mining operations, currency fluctuations, market uncertainty, as well as those factors discussed in the Company's most recently filed management's discussion and analysis and other filings of the Company with Canadian securities authorities, copies of which can be found under the Company's profile on the SEDAR+ website at www.sedarplus.ca.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will be able to obtain sufficient financing to carry out its planned exploration activities.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbour.
Copyright (c) 2026 TheNewswire - All rights reserved.
TheNewsWire
News by QuoteMedia - http://www.quotemedia.com
Copyright (c) 2026 QuoteMedia, Inc.