Kalgoorlie Gold Mining, or “KalGold” commenced trading on the ASX yesterday after raising $7.5 million through its initial public offering. Drilling is already well underway at its flagship Bulong Taurus gold project that sits just 35 kilometres east of Kalgoorlie in WA. A total of six drill holes have been completed to date targeting some bonanza historical grades including a 5 metre hit grading a whopping 52.1 grams per tonne gold from 15m downhole that was inexplainably never run to ground by previous explorers.
Initial RC drilling at Bulong Taurus is designed to confirm historic gold intercepts at the Great Ophir and Central prospects that include a 10m hit grading 39.13g/t gold from 128m downhole including a 3m section coming in at a soaring 115.7g/t gold, or just shy of 4 ounces to the tonne, from 135m downhole.
Results from the phase 1 confirmatory program at Bulong Taurus are still pending with an RC drill rig booked to commence second phase drilling prior to Christmas. A diamond drill rig will follow close behind with the drill rods set to start spinning in the first quarter of 2022 aiming to define controls on gold mineralisation.
Field programs are also afoot with multiple gold-mineralised structures already identified in geophysics beyond known extents. Simultaneously collation and digitisation of all historic, pre-digital datasets is almost complete.
Field confirmation of historic collar locations is cracking along and an acquisition of associated laboratory certificates to allow historical data into its JORC 2012 resources is well underway.
KalGold’s lightening start to its life as a public company was underpinned by six months of diligent, behind-the-scenes work collating, digitising and constructing digital datasets into 3-dimensional models at Bulong Taurus.
KalGold has its hands on a plethora of historic records and together with modern imagery and geophysics, a new light has been shone on the Taurus Mining Centre. To date a total of 177 mine workings have been located at 35 mine sites that were active at various times between 1894 and 1940. The old timer artisanal miners were no slouches and only targeted high grade outcropping deposits and rarely mined to any decent depth, leaving behind these historic mines which have proven to be first-rate targeting tools.
The historic mining centre at Bulong Taurus spread 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.
Notably, KalGold is the first company in decades to assemble all tenure at the Taurus Mining Centre under the one umbrella, enabling full and uncompromised exploration to take place.
The mixture of modern-day exploration techniques undertaken by a proven management team in a historically producing, but neglected gold region, may be the trifecta that the Bulong Taurus mining centre has been patiently waiting for. Time will tell if Kalgoorlie Gold Mining can spark some life back into the historically well-endowed gold region.
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