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KalGold fast-tracks drilling in hunt for Pinjin gold

Updated: Apr 19


Kalgoorlie Gold Mining is hunting for gold at its Providence prospect. Credit: File

Kalgoorlie Gold Mining has launched an earlier-than-expected reverse-circulation (RC) drill-testing program at its Pinjin project in Western Australia’s Laverton Tectonic Zone (LTZ) in a move designed to ramp up its search for shallow, high-grade gold.


Pouncing on the chance to get a drill rig this week, the company’s program at its Providence deposit will kick off tomorrow day and has been crafted to follow up last month’s gold drill hits. Late last month, KalGold released shallow high-grade RC drill hits at Providence including 11m at 2.51 grams per tonne gold from 32m, with 4m at 5.63g/t from 39m, and 14m at 1.32g/t gold from 125m, with 2m at 4.45g/t gold from 132m.


Management had originally planned to begin the campaign either later this year or early in 2024. But it now plans to start the eight holes for 1280m tomorrow morning and is expecting assays back before year’s end.


Results are expected to be used in a first-pass mineral resource estimate for the company’s at Kirgella Gift and Providence prospects, which is expected to be delivered next year.

The objective of this program is to define the extent and orientation of gold mineralisation at Providence by targeting the juxtaposition of two magnetic ridges. A similar geometry along strike at Kirgella Gift corresponds to high-grade gold mineralisation. Kalgoorlie Gold Mining managing director and chief executive officer Matt Painter

The company, which has a market cap of $4.25 million and 157 million issued shares, is strategically targeting the under-explored southern portion of the historically prolific 30-million-ounce LTZ along the east margin of the Norseman-Wiluna Archaean greenstone belt. The LTZ is host to AngloGold Ashanti’s producing Sunrise Dam that has more than 7 million ounces of gold and Gold Fields’ Granny Smith deposit with more than 14 million ounces.


In the Pinjin project area, KalGold’s tenure stretches through 246 square kilometres.


The Rebecca gold project, operated by Ramelius Resources and with an indicated gold resource of 29 million tonnes grading 1.2g/t is located 21km south of KalGold’s Providence prospect. It has more than a 1150m strike length and a north-south “line of lode” extends north from Providence through to KalGold’s Kirgella Gift and Kirgella North prospects.


A further 15km north at the Anglo Saxon open-pit mine that is also known as “Trouser Legs”, owner Hawthorn Resources noted a probable ore reserve of 730 000 tonnes at 2.66g/t gold.


Now, KalGold seems to have secured tenure in an under-explored shear zone and greenstone belt, which has been a historic and prolific gold host. No-one ever discovered a gold deposit without targeted application of the drillbit and the current drill program is no doubt advancing the company’s cause.


It has put a chance foot on a spare drilling rig and from tomorrow, the bit will be churning.


Is your ASX-listed company doing something interesting? Contact: office@bullsnbears.com.au

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