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Strong results spur further expansion for KalGold

ASX-listed explorer Kalgoorlie Gold continues to expand the size of its La Mascotte discovery in WA’s goldfields, with the prospect now extending to a 700m strike length. The company says the mineralisation remains open in every direction. Only last month KalGold doubled the strike length of La Mascotte to 500m on the back of rich results going 16 grams per tonne gold.

The most recent assays returned some strong headline intercepts, including 4m at 5.79 g/t gold from 32m, 4m going 5.47 g/t gold from 100m and 12m yielding 2.09 g/t from 4m. KalGold says all results are shallow and open in all directions, boding well for future drilling.

KalGold raised $7.5m in its 2021 November IPO to drill out its acreage, being the first company in decades to assemble the project’s tenements under one umbrella, giving it a clear run to put a cogent exploration program in place. They are all in the wider Bulong Taurus gold project, just 35km east of Kalgoorlie in WA.

The company says having a West Kalgoorlie office and being able to drive to site in less than 30 minutes means its resident geologists spend more time in the field rather than in Perth or in the air commuting to the WA goldfields.

The geologists have been very busy since the IPO, drilling a mix of 92 diamond and RC holes and an additional 400 auger penetrations over 10 of its prospective deposits yielding the four new discoveries at Bulong Taurus – Knockhill, Royal Star, Thruxton and Bonneville – in addition to the existing La Mascotte play.

What is highly encouraging from the exploration undertaken so far, are parallels we see between Bulong Taurus and Ramelius Resources’ Rebecca Gold Project circa 2015. Both projects contain widespread, shallow gold intercepts at several centres. We see this as a template for KalGold at Bulong Taurus.

Ramelius followed up the Rebecca discoveries and corralled them together to define a significant resource base.

Painter is excited by the results from the RC drill programs because the results further build out gold mineralisation at and around La Mascotte to at least 700m strike length with a distinct north-north-west striking trend and shallow to moderate dip to the west.

He says a cluster of discoveries centred around La Mascotte have come about through testing new targets generated throughout the Bulong Taurus project. First-pass assessment has delivered exceptional results, showing an extensive gold mineralising system and could be in the earliest stages of defining an emerging gold camp at the project.

Painter says KalGold’s focus in coming months will be to flesh out its discoveries and undertake first pass testing of new targets, anticipating plenty of news as the company’s projects hit their stride.

KalGold is well funded to continue its aggressive exploration with $4.87 million in cash and no debt at the end of the March quarter.

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

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