Austral Gold Commences Phased Silver Exploration at Juncal Project, Chile
Sydney, Australia – 12 March 2026 – Austral Gold Limited (ASX: AGD; TSXV: AGLD; OTCQB: AGLDF) announced the launch of a phased exploration program at its 100 % owned Juncal Project in Chile. The project is situated approximately 35 km southeast of the Amancaya Mine, which is fully owned by the company, and about 70 km south of the Guanaco Mine. The initiative is part of Austral Gold’s strategy to focus on near‑mine exploration targets and to enhance its regional portfolio in South America.
Program Phases and Activities
| Phase | Timing | Key Activities |
|---|---|---|
| Phase 1 | March – April 2026 | Geological mapping and more than 1,000 m of channel sampling using a diamond‑blade rock saw. |
| Phase 2 | Q2 2026 | Ground magnetics and induced polarization (IP) surveys to refine drill targets. |
| Phase 3 | Q3 2026 | Targeted reverse circulation (RC) drilling of up to 10,000 m using in‑house equipment to evaluate priority targets. |
The phased approach allows Austral Gold to progressively gather geological, geophysical, and geochemical data, thereby improving target definition for subsequent drilling operations.
Strategic Context
The Juncal Project, covering roughly 2,100 hectares in the Paleocene Belt of northern Chile, was acquired from SSR Mining in 2016. It sits close to existing assets such as the Amancaya Mine (owned 100 % by Austral Gold) and the Guanaco operation. By concentrating on near‑mine targets, the company aims to:
- Refine Drill Targets: Use geophysical surveys to identify high‑potential zones for RC drilling.
- Assess Satellite Targets: Evaluate the feasibility of extending the Guanaco operation.
- Build Momentum: Strengthen the regional portfolio and demonstrate progress to investors.
The company highlighted that the program is supported by recent funding raised through a placement completed on 23 February 2026. In addition to Juncal, Austral Gold expects to announce the commencement of phased exploration programs at Casposo in Argentina shortly thereafter.
Company Overview
Austral Gold Ltd. is a precious‑metals exploration company headquartered in Sydney, Australia. Its operations extend across South America and Australia, with a focus on Chile and Argentina. The company is listed on the ASX All Markets and is a public entity with a market capitalisation of AUD 123,599,184. As of 9 March 2026, its share price stood at AUD 0.19, within a 52‑week range of AUD 0.037 to AUD 0.2525. The company’s price‑earnings ratio is −7.97, reflecting its exploration‑stage status.
For further information, please visit the company’s website at www.australgold.com.au .
