KalGold strikes rich gold in fresh rock at | Australian Markets

Kalgoorlie Gold Mining has struck up to 9 metres grading 3.52 grams per tonne (g/t) of gold from 58m in fresh rock at its Lighthorse project close to Pinjin, 140 kilometres northeast of Kalgoorlie.

The company says the first-pass reverse circulation drilling program seems to have cracked the code by confirming high-grade major mineralisation exists beneath a shallow supergene blanket that was found two months in the past.

A complete of 16 reverse circulation drill holes have been punched out for 2446m down to an average depth of 153m at Lighthorse throughout three sections on a 100m by 80m grid. The samples have been solely examined for gold to fast-track the exploration program.

Standout intercepts included 9m at 3.52g/t gold from 58m with a scorching 2m going 13.65g/t and a 3m hit operating at 5.52g/t gold from 133m, together with 2m at 7.92g/t. Another part stretched up to 5m at 2.64g/t gold from 147m.

Notably, management says the latest hits look like surrounded by a lot broader gold halos with zones resembling 32m at 1.14g/t gold and 12m at 1.29g/t gold, hinting at a considerably mineralised hydrothermal system.

Lighthorse is a shear hosted deposit that runs alongside a northwest to southeast trending strike. It dips steeply to the west and stays open in all instructions together with at depth, with the deepest mineralisation being intersected at 190m.

First-pass RC drilling was designed to verify whether or not major gold mineralisation at Lighthorse extends to depth, which it has accomplished resoundingly. We now transfer to the subsequent part of drilling to resolve the extent and orientation of gold mineralisation.

Having established the supergene zone shouldn’t be a blow-in from elsewhere, KalGold has pulled the set off on a new air core drilling program – its largest marketing campaign to this point – to check whether or not its Lighthorse prospect is an element of one thing larger.

High-resolution geophysics are additionally being run throughout the ground.

Straight after Easter, the company will sink the bit into its 2.4km Lighthorse hall, which is untouched to the north and barely scratched to the south. It can be home to Newmont Mining’s historic T15 prospect, which is looming as a high precedence goal.

While the latest marketing campaign might have tightened the drill grid at Lighthorse, the spacing nonetheless leaves loads of room for discovery.

KalGold can be teeing up a additional reverse circulation drill program to chase the direction of the gold-bearing construction and sniff out any potential extensions. The prospect’s southern finish is wanting particularly juicy, with deep hits and robust gold anomalies lighting up the ground.

The company made the outstanding discovery at Lighthorse in February after an air core program hit an 8m part grading 9.21g/t gold from 52m within a broader 17m zone of 4.81g/t gold from 48m that ended in mineralisation.

The prospect is simply 25km north of Ramelius Resources’ one-million-ounce Rebecca gold project, which is being developed with first manufacturing due in 2027.

Little work has beforehand been accomplished in the world, which sits at the southerly finish of WA’s fabled 40M-ounce Laverton Tectonic Zone.

As there’s a distinct lack of outcropping, the area has been largely ignored, whilst not too long ago as 20 years in the past, and was hardly touched by the previous timers earlier than the top of the nineteenth century gold rush.

Since much less exploration has been carried out on the grounds, KalGold has been gifted with loads of potential targets – 15 at final depend – which it might probably observe up with the help of fashionable technology.

KalGold’s discovery of major gold at depth has unlocked a new part of exploration at Lighthorse, with fresh drilling applications poised to chase the mineralisation alongside its 2.4km hall. With assays stacking up and targets multiplying, the hunt for a maiden useful resource is properly and actually on.

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