Company: AUST
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001410578-25-000509
Chunk: 84

Company: Austin Gold Corp.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 6
Chunk 84
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ization, with the best intercept being:

  260 feet (79.2 meters) averaging 0.937 g/t gold from 150 – 410 feet (45.7 – 125 meters), which includes:  

  o       78.7 feet (24 meters) averaging 1.560 g/t gold from 190 – 270 feet (58 to 82.3 meters).  

Numerous other drill holes returned long intercepts of >0.2 g/t Au, and four drilled higher-grade intercepts of:

  10 feet (3 meters) averaging 1.1 g/t gold;  

  5 feet (1.5 meters) averaging 1.14 g/t gold;  

  15 feet (4.6 meters) averaging 1.1 g/t gold; and  

Table of Contents

  15 feet (4.6 meters) averaging 1.385 g/t gold.  

Exploration History

The property had been dormant since the mid-1990s and was rediscovered by the vendors during an eastern Oregon reconnaissance exploration program. There has been a considerable amount of work done on the property in the past and the vendors have compiled a large amount of data for Stockade Mountain including:

  Assays for over 1,000 rock samples (includes 128 collected by the vendors and 230 collected by a previous exploration company);  

  Approximately 1,000 soil samples (historical data);  

  Information for 40 RC drill holes completed by Phelps Dodge, BHP-Utah, Placer Dome, and Carlin Gold;  

  Recently completed ground and airborne geophysical surveys;  

Permitting

During the fourth quarter of 2022, the Company received approval from the BLM to build access roads and drill exploration holes to test the above-described targets. During the third quarter of 2023, the Exploration Permit application was approved by the Oregon DOGAMI to drill up to sixteen holes.

Drilling

The Company’s drilling program is designed to test beneath the known high-level gold/silver-bearing stockworks mineralization for high-grade vein deposits formed deeper in the hydrothermal system. On November 2, 2023, the Company announced drilling at the Stockade Mountain Project. This is the first known use of diamond drilling on the property, which will allow the Company to have a better understanding of the host rocks and mineralization.

The Company’s diamond drilling program consisted of three diamond drillholes totaling 2,435.9 feet