Kalgoorlie Gold Mining has completed a heritage survey at its Perrinvale gold project about 80km west of Leonora in WA that paves the way for boots on the ground exploration.
Historical campaigns unveiled a suite of anomalous target zones that were previously not fully investigated and the company now plans to double back and assess the potentially gold-bearing prospects.
The principal area of interest is known as “Pine Well” and management says the area will likely be the first patch of dirt its exploration efforts focus on.
KalGold says anomalous readings were detected in wide-spaced auger drilling programs at the target however the results were subsequently never followed by subsequent drilling.
The Perth-based company is currently running the rule over the earlier results and says an initial data review suggests Pine Well’s gold anomalism is focused on a central outcrop within the target zone.
KalGold believes several other gold-bearing prospects could be littered around the Pine Well target area with geological interpretation of magnetic data outlining several conceptual targets.
Following the evaluation, the gold explorer plans to kick off a program of drill testing.
Kalgoorlie Gold Mining MD and CEO, Matthew Painter, said:“It is important for KalGold to maintain good relations with traditional owners across the Eastern Goldfields of WA. With the identification of several gold targets at Perrinvale, KalGold needed to check with traditional owners for any culturally significant sites. The findings of this report clear the way for the Company to undertake exploration activities once programs are finalised and prioritised.”
The junior explorer was only listed on the ASX about a year ago however it seemingly has its hands full with work also progressing at its nearby Bulong Taurus gold project about 250km south near the Kalgoorlie-Boulder region of Western Australia.
At Bulong the company recently plunged a flurry of holes which unveiled a flock of near-surface gold hits that are currently being assessed by an assay laboratory.
The campaign at Bulong was aimed at following up on a batch of near-surface drill hits scored in historical operations.
Some of the better strikes from legacy diamond drilling work at the La Mascotte prospect, part of the larger Bulong Taurus gold project include 1m at 84.1 grams per tonne from 67m, 10m at 39.1 g/t from 128m and 2m at 12.41 g/t from 149m.
La Mascotte’s regional outskirts have also seen its fair share of RC drilling with some of the better hits from legacy work delivering high-grade intercepts which include 4m at 9.07 g/t gold from 118m, 5m going 7.11 g/t from 130m, 2m grading 7.77 g/t from 130m and 1m running 7.31 g/t from a depth of 87m.
The explorer is also ramping up activities at its Pinjin project about 135 km northeast of Kalgoorlie where it will look to define key target areas along strike of ASX-listed Ramelius Resources’ 1.2 million ounce Rebecca gold project.
The company seemingly has several irons in the fire and is also progressing exploration work at a project prospective for lithium near Menzies in WA’s Goldfields region.
Kalgold recently wrapped up a first-pass sampling campaign across its Pianto project, bagging up over 300 samples to test its exploration model.
With drilling now set to commence at Perrinvale and work advancing across a number of other ventures, the company could be setting up a host of new year activity in a market bullish for gold.
The price of the commodity is currently hovering around a one-month high of US$1710 per ounce in the wake of a sliding US dollar. It’s been enough to make some analysts more bullish with UBS forecasting a rebound in prices for the precious metal, saying it could rise 13 per cent over the next 12 months.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
