Accelerate Resources (ASX: AX8) has launched new gold strategy with the acquisition of a 70% interest in the Kanowna East Gold Project, located in the prolific Kalgoorlie gold region of Western Australia.
The project is strategically situated near major gold mines, including Kanowna Belle and the Kalgoorlie Superpit, and highlights a commitment to gold as a key commodity for the Company going forward.
The project area was selected after rigorous evaluation and due diligence, with an emphasis on highly prospective but underexplored terrains, with the opportunity to transform discoveries into production faster and at lower cost.
CEO, Luke Meter, said the Kanowna East Project stood out as it fulfils all the essential criteria and is close to multiple processing plants with toll milling services, enabling potential production from even modest deposits.
“We are thrilled to launch our new gold strategy with the acquisition of a 70% interest in the Kanowna East Gold Project,” he said.
“This is a strategic move into the prime Kalgoorlie gold region which we consider highly prospective for gold discoveries, including further large Tier 1 scale deposits.
“Accelerate plans to actively drill the significant gold targets we have defined to date and expand our exploration in this area. With gold prices at record highs in Australia, it is time to play to the strengths of our team in this commodity and create value in the near term.”
Kanowna East Project
The Kanowna East Project is situated 25 km northeast of Kalgoorlie and is prospective for gold and nickel. The project is located 9 km northeast of the +6 Moz Kanowna Belle gold mine.
In 2020, Metal Hawk (ASX:MHK) followed up historic RAB drilling gold anomalies with 408 shallow aircore drill holes, defining two new paleo-surface gold anomalies referred to as the Little Lake and Western Tiger Prospects.
In the following year a 14-hole follow up RC drill program for 1,465m intercepted further significant paleo-surface gold.
4m @ 17.7g/t Au from 75m (including 1m @ 42.7g/t Au from 76m) was intercepted in drill hole KERC012 as well as a modest but important basement intercept 200m NE along strike of 5m @ 0.52g/t Au from 100m in drill hole KERC010.
Focus moved away from the Kanowna East project shortly after the completion of the successful RC program due to Metal Hawk’s Berehaven nickel sulphide discovery and more recently their high-grade gold discovery south of Leinster.
