2,000m Drilling Program Underway at Kanowna East Targeting Basement Gold
Accelerate Resources has launched a 2,000m drilling campaign at its Kanowna East Gold Project near Kalgoorlie, targeting basement-hosted gold mineralisation with promising historical results backing the effort.
- 2,000m reverse circulation drilling underway at Kanowna East
- Targets structurally controlled basement gold at Western Tiger and Little Lake prospects
- Exploration guided by geophysical and geochemical data along Reidy Fault and gravity trends
- Strong cash position of approximately $3 million supports campaign
- Kanowna East is a 70%-owned joint venture with Metal Hawk
Drilling Commences at Kanowna East
Accelerate Resources Limited (ASX – AX8) has officially begun a significant reverse circulation (RC) drilling program at its Kanowna East Gold Project, located 25 kilometres northeast of the prolific Kalgoorlie gold mining region in Western Australia. The 2,000-metre drilling campaign aims to test basement-hosted gold targets at the Western Tiger and Little Lake prospects, areas identified through detailed structural, geophysical, and geochemical analysis.
Strategic Targeting of Basement Gold Systems
The drilling program focuses on structurally complex zones along the Reidy Fault and newly identified northeast-trending gravity anomalies. These features are interpreted to represent pathways for orogenic gold mineralisation, a style commonly associated with significant deposits in the Eastern Goldfields. Historical drilling in the area has revealed widespread paleochannel gold occurrences, and the current program seeks to pinpoint the potential basement sources of these surface anomalies.
Backing from Historical Data and Strong Funding
Previous exploration by Metal Hawk and other parties has yielded encouraging gold intercepts, including high-grade hits such as 17.7 grams per tonne over 4 metres, supporting the prospectivity of the Kanowna East project. Accelerate Resources holds a 70% interest in the joint venture with Metal Hawk retaining 30% until a pre-feasibility study is completed. The company’s robust cash position of around $3 million ensures the drilling campaign is well-funded, allowing for thorough testing of these targets.
Technical Rigor and Forward Outlook
The announcement includes comprehensive JORC 2012-compliant technical details, underscoring the quality and reliability of the sampling, drilling, and assay methods employed. Accelerate’s Chief Executive Officer, Luke Meter, highlighted the strategic importance of this drilling phase, noting that success could significantly enhance the company’s gold portfolio near Kalgoorlie. The company plans to provide ongoing updates as drilling progresses and assay results become available, which will be closely watched by investors and analysts alike.
Bottom Line?
As drilling advances, the market will be keenly awaiting assay results that could redefine Accelerate Resources’ position in the Eastern Goldfields gold landscape.
Questions in the middle?
- Will the drilling confirm the presence of economically viable basement-hosted gold mineralisation?
- How might the new gravity trends influence future exploration targeting beyond the current program?
- What are the implications for Accelerate’s broader gold strategy if significant discoveries are made at Kanowna East?
