KalGold’s Total Gold Resource Hits 214,300 Oz with New Discoveries at Pinjin

Exploration Momentum Builds at Pinjin

Kalgoorlie Gold Mining Limited (ASX: KAL) has delivered a robust quarterly update for the period ending December 31, 2024, highlighting accelerated exploration activities at its flagship Pinjin Gold Project in Western Australia's Laverton Tectonic Zone. The company’s systematic aircore drilling programs have uncovered new zones of gold mineralisation across three key areas, Wessex, Providence South, and Kirgella West, setting the stage for a critical phase of Reverse Circulation (RC) drilling planned for early 2025.

These discoveries have contributed to an uplift in KalGold’s total JORC Code (2012) Inferred Mineral Resource to 214,300 ounces of gold, combining resources from the Pinjin Project’s Kirgella Gift and Providence deposits with the Bulong Taurus Project’s La Mascotte deposit. Notably, the mineralisation is near surface or outcropping, with grades exceeding 1.0 g/t Au, suggesting potential for open-pit mining operations.

Key Targets and Drilling Highlights

The Wessex prospect has emerged as a standout, with aircore drilling defining a 2-kilometre strike of thick, extensive gold mineralisation adjacent to the Anglo Saxon Gold Mine. Significant intercepts include 28 metres at 1.27 g/t Au and 16 metres at 0.77 g/t Au, underscoring the prospect’s potential. Similarly, Kirgella West revealed broad mineralisation over a 1,200-metre strike length and up to 320 metres wide, with 25% of holes returning significant gold anomalism.

Providence South presents a compelling target characterized by an 800-metre silica caprock ridge that limited aircore penetration but is associated with strong gold and arsenic anomalism, a classic pathfinder for gold mineralisation in the region. This target will be a priority for upcoming RC drilling to test for primary gold mineralisation at depth.

Strategic Tenement Acquisition and Funding Position

In addition to exploration success, KalGold secured a new tenement (E31/1262) from Solstice Minerals, strategically linking its existing Pinjin tenure and providing continuity across key prospect areas. The acquisition was settled with shares and includes a 1% net smelter royalty, reflecting a prudent approach to expanding its landholding.

Financially, the company remains well-funded with approximately $1.8 million in cash and no debt as of the quarter’s end. Exploration expenditure accelerated during the quarter, reflecting the multiple drilling campaigns and a new aeromagnetic survey, but is expected to moderate in the coming quarter. KalGold is also on track to meet and likely exceed its $1.4 million farm-in drilling expenditure obligations, positioning it to execute the farm-in agreement ahead of the May 2025 deadline.

Regional Context and Future Outlook

The Pinjin Project sits within the highly prospective Laverton Tectonic Zone, a prolific gold-producing region hosting major deposits such as Sunrise Dam and Granny Smith. Nearby developments, including Ramelius Resources’ Rebecca Project with its planned processing plant, could enhance the economics of KalGold’s discoveries by reducing transport costs and enabling lower-grade ore to be mined profitably.

KalGold’s methodical exploration approach, combining cost-effective aircore drilling with targeted RC programs, positions it well to expand its resource base and advance towards development. The upcoming RC drilling results will be pivotal in confirming the extent and grade of mineralisation, potentially marking a major milestone for the company.