Kalgoorlie Gold Mining has gone 8 for 8, with all 8 rock chip samples recently submitted to the lab from a newly discovered outcropping gold vein at its Perrinvale project near Leonora showing some colour. The company tabled assays from its Pine Well North prospect within Perrinvale going as high as 4.08 g/t gold. Other higher-grade results include 2.39 g/t gold, 1.88 g/t, 1.83 g/t, 1.5 g/t ,1.32 g/t gold. Two other lower grade chips went .66 g/t gold and .18 g/t respectively.
It also pegged new ground just east of Kalgoorlie taking in multiple prospects along strike from its 138,000 ounce outcropping La Mascotte gold deposit and picked up strong lithium indications at its Pianto project near Menzies.
The outcropping quartz vein at Perrinvale, 85 km west of Leonora, was identified in thick bush by old–school, boots–on–ground geological reconnaissance following historic auger gold hits along strike.
The vein had gone unnoticed by previous exploration campaigns which focussed on nickel sulphides, diamonds, paleochannel hosted uranium and gold.
Kalgoorlie Gold Mining managing director Matthew Painter said; “Progression at the Perrinvale Project has highlighted a previously unrecognised, outcropping gold- mineralised vein that extends prospectivity at the Pine Well target to over 3.5km.”
The rock chip results from the newly discovered vein correlate well with historic auger drill data in the area and the company says they confirm the presence of primary gold mineralisation at Perrinvale. The vein is significant as it extends prospectivity from the south at the Pine Well target by more than 3.5km, with the mineralisation remaining open to the north and south.
The company also moved to increase its footprint at Bulong Taurus, about 30 km east of Kalgoorlie, by pegging a mining lease application to cover satellite prospects extending along strike from its lead gold project – La Mascotte.
The outcropping mineralisation at La Mascotte remains open at depth and the deposit has a mineral resource estimate of 3.61 million tonnes at 1.19 grams per tonne for 138,000 ounces of gold.
The new mining lease application is 693 hectares in size and when in place, will amalgamate several pre–existing prospecting licences and one existing mining lease, strengthening Kal Gold’s foothold in the area.
It is looking to develop a multi-focussed mining operation at Bulong Taurus, mining La Mascotte together with the satellite prospects.
To the north, 80 km from Kalgoorlie, Kal Gold is shifting its aim to lithium at Pianto, where historic auger results revealed pathfinder anomalies under soil cover.
Managment has again put boots on the ground in the area and located outcropping rock which was sampled and assayed, with 65 per cent of the samples being classified by the company as prospective, based on six geochemical ratio thresholds.
The auger anomalies and rock chip sample hits provide the company with some direction for its planned aircore drilling program in the area in the next phase of exploration that will target buried pegmatites.
The market pushed Kalgoorlie Gold Mining’s share price up 13 per cent for the day on the back of the news with good volumes.
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