KalGold air core blitz to chase Pinjin gold strike | Australian Markets

Kalgoorlie Gold Mining has fired up the drill rigs again to launch a new air core drilling program to chase down extensions at its budding Lighthorse gold discovery close to Pinjin in Western Australia’s famed Laverton Tectonic Zone.

The recent marketing campaign will plunge up to 5500 metres of drill holes into the grime throughout the two.4-kilometre Lighthorse hall over the following three weeks.

Using a systematic 160m by 80m grid sample, the drill rigs will probably be tasked with extending protection 1400m north of the initial discovery holes, whereas additionally cleansing up patchy historic drilling over 1000m to the south.

The southern part can also be home to Newmont Mining’s historic T15 prospect, which hit wealthy grade at depth and has been marked up as a high precedence goal.

Adding to the momentum, KalGold has additionally finalised a follow-up reverse circulation program to ship a one-two punch of infill and extensional drill testing.

New goal areas that emerge from the air core work will probably be fast-tracked onto the reverse circulation hit listing, offering what the company suggests might be a string of near-term news catalysts.

Recent RC drilling at Lighthorse signifies that KalGold has latched onto a beforehand unrecognised main orogenic gold system that extends past the footprint of that initial confirmatory program. We see important dimension potential at and round Lighthorse, with a number of kilometres of further strike extent to be drill examined with the present air core program.

The company hit the headlines two months in the past after an air core drilling program revealed a set of uber-rich hits from a shallow supergene blanket, together with a 17m intercept grading 4.81 grams per tonne (g/t) gold from 48m and 8m at 9.12g/t gold from 52m.

A 16-hole reverse circulation program was rapidly rolled out to check for high-grade main mineralisation below the oxide because the potential source of the gold – which additionally hit paydirt.

Standout intercepts lit up the outcomes sheet, with 9m at 3.52g/t gold from 58m, together with a red-hot 2m going 13.65g/t. Deeper drilling snared 3m at 5.52g/t from 133m, with a juicy 2m at 7.92g/t tucked inside. Another cracking intercept delivered 5m at 2.64g/t from 147m.

Notably, management mentioned the high-grade hits are wrapped in broader gold halos, together with a hefty 32m at 1.14g/t and 12m at 1.29g/t, pointing to a doubtlessly giant and fertile hydrothermal system.

Lighthorse is only one half of KalGold’s strategic landholding within the broader Pinjin gold project. Sitting 140km northeast of Kalgoorlie and 25km up the highway from Ramelius Resources’ fast-tracked 1-million-ounce Rebecca gold project, it’s smack-bang within the center of one of WA’s hottest gold corridors.

The 30M-ounce Laverton Tectonic Zone is no stranger to monster gold deposits, with the likes of Sunrise Dam, Wallaby, Granny Smith and Anglo Saxon all lurking to the north. If Lighthorse follows a comparable geological script, KalGold might be sitting on a significantly priceless prize.

KalGold already has a observe file of discovering shallow, doubtlessly open-pittable gold ounces on a shoestring funds. The company has beforehand unearthed more than 214,000 ounces of gold throughout its WA grounds at a discovery price of simply $4.60 per ounce.

This portfolio contains a 138,000-ounce useful resource grading 1.19g/t on the company’s La Mascotte deposit close to Kalgoorlie and a 76,400-ounce useful resource at its Pinjin’s Kirgella Gift and Providence prospects.

With drills spinning, targets multiplying and a string of exploration successes already within the bag, KalGold seems to be shaping up as a severe participant in WA’s subsequent wave of gold development.

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