20/12/2021 - 16:52

KalGold spies another gold target east of Kalgoorlie

20/12/2021 - 16:52

Bookmark

Upgrade your subscription to use this feature.

Kalgoorlie Gold Mining has spied out a gold target east of Kalgoorlie that it identified through geophysical interpretation. The same areas have recently turned up some cracking gold nuggets and the company is now planning a 3,000 metre-plus RC drill program to test the new target area. It also plans to drill test other established gold prospects that showed promising first pass drilling results.

KalGold spies another gold target east of Kalgoorlie
Gold nuggets from KalGold’s Bulong Taurus project area. Credit: File

Kalgoorlie Gold Mining, or KalGold has spied out a gold target east of Kalgoorlie that it identified through geophysical interpretation. The same areas have recently turned up some cracking gold nuggets and the company is now planning a 3,000 metre-plus RC drill program to test the new target area. It also plans to drill test other established gold prospects that showed promising first pass drilling results.

The new target area was identified to the south of its outcropping La Mascotte gold prospect through geophysical, geological and historic drill dataset analysis. La Mascotte, that lies within the Bulong Taurus project, recently returned a lovely set of drilling numbers including a 7m hit going 14.87 grams per tonne gold from surface.

Gold nuggets from the new target area were located on 16 December 2021 by prospectors and display an angular shape indicating they originated locally and have not been transported far.

Listed companies will often use local prospectors as “forward scouts” to scope out an area that is prospective for potential gold at depth based on surface nugget discoveries. KalGold has done this to great effect in assisting with drill targeting.

The area has jumped up the drill priority ranks based on the coincidence of gold nuggets being found in the same area as other identified anomalous geological and geophysical features.

Two RC drill holes are planned to be sunk into the new target area between the historic Golden Jumble, Exchange and Baronet gold workings. According to the company, the newly identified target area contains a suite of rocks that are commonly associated with gold mineralisation. Additionally, some historic drilling has loosely identified gold mineralisation in the area that KalGold says requires follow up work.

A costean is being dug approximately three kilometres to the north of La Mascotte at the Great Ophir prospect across historic workings and key geological contacts in the area. Costeaning is aimed at constraining several possible gold mineralisation models prior to RC drilling at Great Ophir.

An auger program consisting of several hundred metres in poorly explored areas of the Bulong Taurus project is also scheduled as soon as the company receives statutory approval.

The historic mining centre at Bulong Taurus spreads more than 3km north to south and over 2km east to west with large gaps of up to 500m between some artisanal mines on KalGold’s tenure. Intriguingly, many of these areas have not been drilled to fresh rock or not explored at all for decades, leaving swathes of untested opportunity between known gold producing sites.

Kalgoorlie Gold Mining's Managing Director and CEO, Dr Matthew Painter said: "KalGold’s cooperation with long-term prospectors is assisting the Company to identify new targets at Bulong Taurus. A new target area south of the outcropping La Mascotte gold system has been identified through interrogation of geological and geophysical datasets. This coincides with the recent recovery of gold nuggets in the subsurface. This new target will be drill tested shortly.”

“By leveraging the Company’s solid relationship with local prospectors, KalGold is seeking to realise the full potential of the Bulong Taurus project area. Going forward, this is expected to open otherwise unrecognised targets for future exploration.”

KalGold appears to have amassed a serious tenement portfolio just east of Kalgoorlie that has previously been under fragmented ownership subsequently squashing any serious exploration efforts from ever taking place. Prospectors however have been reaping the benefits over the entire Bulong taurus area for decades and with their assistance, KalGold may have a serious advantage in early-stage drill targeting to find the source of the many surface gold nuggets.

 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options