The company is now awaiting assay results from its recent large-scale aircore drill programme.
The transaction involved a $1.65 million (A$2.56 million) cash payment for ownership of multiple tenures, including E 28/2654, E 28/2655, E 28/2656, E 31/1127, and several P 31 parcels. Under the terms, the vendors will be carried without cost until a bankable feasibility study is completed and a decision to mine is made, at which point they must either contribute to costs or convert their interest into a 2% net smelter royalty.
Matt Painter, Kalgoorlie Gold’s managing director, stated: “This marks a major milestone for the company. We are incredibly proud of the KalGold team’s achievements since commencing the farm-in at Pinjin. In less than two years, the company has defined over 75,000oz of gold in a near-surface Mineral Resource following JORC Code (2012) guidelines, at Kirgella Gift and Providence.” He added: “Beyond this, we have defined gold mineralisation and anomalism across multiple prospects throughout the tenement package, including the hugely prospective Lighthorse and Wessex prospects.”
The company is awaiting assay results from a recent large-scale aircore drilling program targeting areas north and south of the Lighthorse discovery, which will guide its future exploration strategy. With control of the key Pinjin tenures, Kalgoorlie Gold plans to intensify exploration through aircore, reverse circulation, and diamond drilling. The company is also considering geophysical programs to identify alteration zones, structures, and mineralization to uncover new high-priority targets and expand its mineral resource inventory.
This development strengthens Kalgoorlie Gold’s position in the region, supporting local economic growth through exploration and potential mining activities without affecting gold consumption or trade dynamics.
