Australasian Gold Limited report results from its maiden diamond drill (DD) program at the 100% owned May Queen Gold Project within Queensland's Brovinia region. The DD program, in combination with rock chip sampling, has delivered highly encouraging initial results, indicating the potential of a gold- copper porphyry system within the project area. A petrological study on some representative geological units has significantly lifted geological understanding on the project. The company has also completed preparation for its maiden exploration program at the exciting Mt Peake Lithium pegmatite project in the Northern Arunta pegmatite province in the Northern Territory, with site activities to commence on Sunday, 19 September 2021.