08/12/2021 - 16:32

Shallow gold in all directions for KalGold

08/12/2021 - 16:32

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Kalgoorlie Gold Mining, or KalGold has spotted a near surface open pit mining opportunity at its La Mascotte gold system near Kalgoorlie after reviewing a grab bag of historical bonanza near surface gold hits. Notable results identified include 7 metres grading 14.87 grams per tonne gold from surface and 2m grading a bonanza 141.15g/t gold or over 4 ounces to the tonne from 8m downhole.

Shallow gold in all directions for KalGold
KalGold geologists field checking the first drill collar at its La Mascotte prospect. Credit: File

Kalgoorlie Gold Mining or KalGold has spotted a near surface open pit mining opportunity at its La Mascotte gold system near Kalgoorlie after reviewing a grab bag of historical bonanza near surface gold hits. Notable results identified include 7 metres grading 14.87 grams per tonne gold from surface and 2m grading a bonanza 141.15g/t gold, or over 4 ounces to the tonne from 8m downhole.

The La Mascotte prospect sits within the Bulong Taurus gold project area approximately 35 kilometres to the east of Kalgoorlie and boasts a plethora of historically anomalous drill results.

Other shallow historical drill hits in the La Mascotte prospect include 18m grading 1.23g/t gold from just 1m downhole, 3m going 7.25g/t gold from 11m downhole and 2m at an ounce per tonne gold from 12m downhole.

Importantly the La Mascotte prospect has also hosted a bundle of deeper gold intercepts including an eye-catching 10m grading 39.14g/t gold from 128m downhole, 1m going at a whopping 84.1g/t gold from 67m and 4m at 9.07g/t from 118m downhole.

Over 90 historical drillholes from the La Mascotte prospect were analysed primarily consisting of RC drilling with limited diamond drilling data. Drill hole spacing was approximately 40mx20m providing KalGold with a thorough and systematic dataset to interpret.

Gold mineralisation outcrops over a 200 square metre area at La Mascotte and remains open down dip to the west and along strike to both the north and south.

KalGold says the shallow nature of mineralisation represents a great opportunity to sink an economically viable open pit into the La Mascotte prospect.  Any open pit mining opportunity would also have the potential to grow with mineralisation remaining open along strike in both directions. Additionally, the fantastic grades intercepted at depth provide the company with confidence that an underground mining extension is also a viable option.

Mineralisation at La Mascotte represents a meagre 1 per cent of KalGold’s Bulong Taurus project area and is just one of dozens of historical mines and structural targets in the area.

KalGold Managing Director and Chief Executive Officer, Dr Matt Painter said:

“KalGold’s La Mascotte represents an extraordinary opportunity for the Company. Outcropping gold mineralisation has been tested over an area of around 300x300m, and KalGold plans to expand on this work.”

“Thorough assessment of historic datasets included a metallurgical study and calculation of pre-JORC resource estimates. KalGold will reassess the mineral system in detail and will test open mineralisation down dip and along strike in forthcoming drilling with the aim of expanding its extent. With gold mineralisation open in multiple directions, KalGold expects to significantly increase the gold inventory at La Mascotte. This is only one of many prospects at Bulong Taurus which will be assessed over the next 12 months.”

The sublime location of the Bulong Taurus gold project just east of the world class gold producing mecca of Kalgoorlie is one of its standout features. The area is littered with more mills than you can poke a stick at highlighting the rich history of gold production in the region. Having just arrived on the scene, this junior explorer seems to have muscled in on some prime real estate where it will be looking to write its own chapter in 2022.

 

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

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