WA-focused gold explorer, Kalgoorlie Gold Mining (ASX:KAL) has uncovered gold and lithium in separate projects and applied for a new exploration licence in a busy period of activities.
The company is undertaking a range of ongoing work across its portfolio of projects in the Eastern Goldfields.
Managing Director Matt Painter said whilst the company’s focus is on determining the full extent of gold mineralisation at Kirgella Gift and further work at the Pinjin Project, it is also undertaking highly cost-effective, systematic programs to identify further targets for shallow, low-cost resources in highly prospective areas on the broader KalGold portfolio.
He said the gold and lithium work at Perrinvale and Pianto is consistent with this strategy and complements recently announced thick, near-surface gold intercepts at Kirgella Gift (Pinjin Project) and reconnaissance high-grade gold sampling at the Zelica Project.
KalGold continues to demonstrate the highly prospective nature of its portfolio and today’s results further affirm our view that the company possesses some very exciting assets,” Mr Painter said.
“Progression at the Perrinvale Project has highlighted a previously unrecognised, outcropping gold- mineralised vein that extends prospectivity at the Pine Well target to over 3.5km.
“Meanwhile at the Pianto Project, lithium exploration has significantly advanced. Sampling of the sparse, deeply weathered outcrops peripheral to established, covered auger geochemistry targets indicates strong lithium prospectivity throughout the area.
“These results give us confidence to advance to the next phase of exploration – direct aircore testing of the buried targets.
“Finally, at the Bulong Taurus Project – home to KalGold’s outcropping gold resource at La Mascotte near Kalgoorlie – an application was submitted for a new mining lease bordering to the existing lease over the La Mascotte deposit itself. The application will support a future multi-focussed mining operation at Bulong Taurus, incorporating several satellite prospects in addition to La Mascotte.
“Whether looking at gold developments at Perrinvale and Bulong Taurus or emerging lithium potential at Pianto, KalGold will continue to undertake rigorous systematic assessment of our projects to drive value for shareholders.”
KalGold has strategically pegged a new Mining Lease Application (M 25/377) at its Bulong Taurus Project, where previous work by the company has defined a JORC (2012) Mineral Resource Estimate of 3.61 Mt @ 1.19 g/t Au for 138,000 oz1.
Mr Painter said KalGold envisages a future mining operation at Bulong Taurus that simultaneously extracts gold ore from an open pit at La Mascotte and from a series of satellite prospects surrounding it.
The company envisages a future mining operation at Bulong Taurus that simultaneously extracts gold ore from an open pit at La Mascotte and from a series of satellite prospects surrounding it.
To this end, KalGold has submitted a MLA over the greater Bulong Taurus Project area to WA’s Department of Mines, Industry Regulation and Safety (DMIRS). Grant of the new Mining Lease will allow the company to continue to fully assess all satellite prospects, define additional Mineral Resources and undertake all required mining studies.
Forthcoming KalGold work programmes will seek to drill out and define additional gold mineralisation along strike, and into the footwall and hangingwall of the La Mascotte system, as defined by the series of satellite prospects evident from KalGold’s 2022 drill programmes. These targets, namely Turnpike, Thruxton, and Bonneville, are located on current prospecting licences surrounding M 25/19 (host to La Mascotte). The Royal Star prospect to the east of La Mascotte, together with a series of Gold Rush era (1890-1925) prospects defining a west-northwest line of historic workings between Victoria and Planimeter will also be further assessed.
The new MLA measuring 693 hectares in size will replace several prospecting licences completely, several others partially, and will overlap but not replace M25/19 (which is to be excised).