KalGold explores green pastures near Lighthorse | Australian Markets

Kalgoorlie Gold Mining has etched out an intriguing, untested 13-kilometre hall buried beneath cowl alongside strike of its freshly minted Lighthorse gold discovery on the company’s Pinjin project in Western Australia. No historic drilling exists alongside 2.7km instantly north and northwest of the invention.

The company set tongues wagging earlier this month when it pulled up a clutch of intercepts together with 17 metres operating at 4.81 grams per tonne (g/t) from 48m and 8m at 9.21g/t from 52m. KalGold’s share price went on a tear to hit 8.9 cents, a strong gain of 456 per cent within the week’s trading.

Administration believes intensive wide-spaced intercepts on the greenfields Lighthorse gold discovery recommend KalGold might have encountered a giant major gold system hidden below transported cowl.

The new discover has a 600m strike operating parallel to the Laverton Tectonic Zone and stays open to the northwest and southeast.

KalGold is retaining tight-lipped about its proprietary geological information of the newly found geology hall that it says is certain by two north-south putting magnetic ridges, with the jap ridge internet hosting the Kirgella Reward and Windfall deposits. The company hopes the aggressive geological edge will facilitate and improve the possibility of extra discoveries.

A current evaluation of geophysical information stretching 1.5km north of Lighthorse reveals a bottleneck and deviation of the host sequence, which can be beneficial for gold mineralisation accumulation.

South of Lighthorse, the company notes historic air core and rotary air blast drilling is shallow and irregular over a 1.5km strike of the geological development. Additional south nonetheless, on the deeply buried T15 prospect, KalGold believes drilling doesn’t seem to have absolutely examined the contemporary bedrock beneath a regional paleochannel extending to depth of 100m.

The company is now bringing within the cavalry with a reverse circulation (RC) drill program to check below and across the high-grade Lighthorse discovery. Drilling is tipped to kick off in March. It’s the first in a collection of packages designed to outline the complete extent of the intensive gold mineralisation system.

We’re extraordinarily excited by the potential magnitude of the Lighthorse gold mineralised system. Our evaluation signifies Lighthorse is hosted within a 13km long, north-south trending geological sequence within KalGold’s tenure. The company is assessing 6km of strike for follow-up air core drilling and, primarily based on these outcomes, will proceed to develop the search space.

The Lighthorse discovery is hosted by a laterally intensive, sheared and deformed volcano-sedimentary sequence within the southern half of the potential Laverton Tectonic Zone.

The famend 30-million-ounce zone is one of the State’s most well-endowed gold areas and hosts a number of producing gold mines, together with AngloGold Ashanti’s Dawn Dam, Gold Fields Ltd’s multi-million-ounce Granny Smith operation and Ramelius Sources’ Rebecca project that comprises a 1.1-million-ounce gold useful resource.

Because the gold price continues its meteoric rise, sitting at US$2883/t (A$4562/t) and with a discovery below its belt, KalGold is no doubt hoping to keep its share price on a gallop as a drill rig rolls back into Lighthorse. It has loads of inexperienced pastures to discover.

Is your ASX-listed company doing one thing attention-grabbing? Contact: [email protected]