Kalgoorlie Gold Mining Limited

La Mascotte Gold Deposit: First JORC (2012) Mineral Resource Of 138,000 oz Au

WA-focused gold explorer, Kalgoorlie Gold Mining (ASX:KAL) (‘KalGold’ or ‘the Company’), is pleased to announce the first JORC (2012) Mineral Resource at the La Mascotte gold deposit within the Bulong Taurus project, 35km to the east of Kalgoorlie-Boulder.


Highlights

  • La Mascotte is one of the few outcropping gold deposits in the Eastern Goldfields
  • First ever La Mascotte JORC (2012) Inferred Mineral Resource Estimate of:
    • 3.61 Mt @ 1.19 g/t Au for 138,000 oz (0.6 g/t cut-off)
  • Resource is estimated above the 220 mRL, or to a depth of ~140 m below surface on a granted mining lease
  • Modelled resource footprint measures 700 m north-south by 500 m east-west, with multiple stacked mineralised horizons demonstrating a total sectional thickness of up to ~175 m
  • Mineralisation remains open below 220 mRL at several target areas
  • Potential for significant resource growth and upgrade with additional drilling
  • KalGold direct expenditure cost of only ~A$5 per gold ounce (including drilling and assays)
The JORC (2012) Mineral Resource Estimate at La Mascotte has been estimated at:

3.61 Mt @ 1.19 g/t Au for 138,000 oz at a 0.6 g/t cut-off (Inferred).

This includes a higher-grade component of 1.35 Mt @ 1.92 g/t Au for 83,000 oz at a 1.0 g/t cut-off.

KalGold Managing Director and CEO Matt Painter said:

“The definition of 138,000 oz of gold from surface only 35km east of Kalgoorlie Boulder is a major milestone in KalGold’s short history. It reinforces our objective of discovering and defining gold resources in the Eastern Goldfields of Western Australia.

“La Mascotte is one of the few remaining outcropping gold deposits in the Eastern Goldfields. This initial JORC (2012) Mineral Resource Estimate highlights our cost-efficient approach to building a mineral resource base and strengthens KalGold’s credentials as a highly effective gold discovery company. For example, the incorporation of historic drill data into this JORC (2012) Mineral Resource Estimate has saved the Company $1.6 million in drilling-related costs, delivering a realised discovery cost of only $5/oz.

“With gold mineralisation remaining open at depth, KalGold will progress the La Mascotte mineral resource with additional work. We look forward to updating investors on our progress throughout CY2023.”

The La Mascotte Gold Deposit

The La Mascotte gold deposit is one of the few remaining outcropping gold deposits near Kalgoorlie- Boulder in the Eastern Goldfields of Western Australia. Located less than 35km east of the city on the sealed Bulong Road, the deposit can be accessed within 30 minutes’ drive from Kalgoorlie.

Figure 1 – Location map, showing the La Mascotte deposit 35km east of Kalgoorlie and gold plants nearby. Projection GDA94 MGA Zone 51.

La Mascotte is located within the (historic gold rush era) Taurus Goldfield, immediately to the east of the Bulong Goldfield. Geologically, the deposit is hosted by a deformed, metamorphosed, felsic-intermediate volcanosedimentary sequence locally intruded by ultramafic to felsic porphyry pods and dykes. This sequence is juxtaposed against a nickel-mineralised ultramafic sequence to the west and north. Separating these sequences is the regionally extensive, deformed Goddard Fault. KalGold believes this fault to be the controlling structure for gold mineralisation throughout the Taurus Goldfield. Further south along strike, this hosts the high-grade Daisy Milano gold mine operations in the Mt Monger Goldfield.

Although outcrop at La Mascotte is poor, gold-mineralised quartz veining and altered felsic-intermediate volcaniclastic rocks are evident as subcrop and float over several hundred metres (Figure 3). Gold nuggets have also been recovered by our prospector partners over the area (Figure 4). Furthermore, shallow excavations in these areas exhibit a prevailing shallow westerly dip of strata, foliation, and veining.


Click here for the full ASX Release

This article includes content from Kalgoorlie Gold Mining Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

Kalgoorlie Gold Mining

Kalgoorlie Gold Mining Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Kalgoorlie Gold Mining Limited

Kalgoorlie Gold Mining


Keep reading...Show less

Unlocking gold deposits hidden under shallow cover in the heart of Western Australia’s Eastern Goldfields

Clem Chambers, gold bars.

Clem Chambers: Gold's Top Driver Now, Silver's Coming Boom Phase

Clem Chambers, CEO of aNewFN.com, shares his outlook for gold and silver.

He also shares his thoughts on the broader US economy.

Keep reading...Show less
Three gold bars on price chart with magnifying glass.

What Was the Highest Price for Gold?

Gold has long been considered a store of wealth, and the price of gold often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.

The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has pushed the precious metal to record highs as market participants seek its perceived security.

And each time the gold price rises, there are calls for even higher record-breaking levels.

Keep reading...Show less
Hand labeled "BRICS" cutting paper money with scissors.

How Would a New BRICS Currency Affect the US Dollar?

The BRICS nations, originally composed of Brazil, Russia, India, China and South Africa, have had many discussions about establishing a new reserve currency backed by a basket of their respective currencies.

A BRICS currency was a topic at the 2024 BRICS Summit that took place October 22 to 24 in Kazan, Russia. At the summit, the BRICS nations continued their discussions of creating a potentially gold-backed currency, known as the "Unit," as an alternative to the US dollar.

At the 2024 BRICS summit, Russian President Vladimir Putin appeared on stage holding what appeared as a prototype of a possible BRICS banknote. However, he seemed to back away from previous aggressive calls for de-dollarization, stating the goal of the BRICS member nations is not to move away from the US dollar-dominated SWIFT platform, but rather to deter the "weaponization" of the US dollar by developing alternative systems for using local currencies in financial transactions between BRICS countries and with trading partners.

"We are not refusing, not fighting the dollar, but if they don't let us work with it, what can we do? We then have to look for other alternatives, which is happening," he stated.

The potential BRICS currency would allow these nations to assert their economic independence while competing with the existing international financial system. The current system is dominated by the US dollar, which accounts for about 90 percent of all currency trading. Until recently, nearly 100 percent of oil trading was conducted in US dollars; however, in 2023, one-fifth of oil trades were reportedly made using non-US dollar currencies.

Keep reading...Show less
Metal Bank

Executing WA Gold Strategy

Metal Bank Limited (ASX:MBK) (‘MBK’ or ‘the Company’) advises that it has signed a non-binding term sheet (Term Sheet) with Hastings Technology Metals Ltd (ASX:HAS) (HAS) for the acquisition of the gold assets of HAS, (subject to due diligence, binding documentation and other conditions precedent including MBK shareholder approval) (Proposed Acquisition), and has commenced a scoping study for the Kingsley and Homestead deposits at the Livingstone Project, furthering its Western Australian focussed gold strategy to expand MBK’s WA gold portfolio and move to production.

Keep reading...Show less
Exceptional result of 32m @ 7gt Au in Lord Byron drilling

Exceptional result of 32m @ 7gt Au in Lord Byron drilling

Brightstar Resources (BTR:AU) has announced Exceptional result of 32m @ 7gt Au in Lord Byron drilling

Download the PDF here.

Jaime Carrasco, gold bars.

Jaime Carrasco: Gold, Silver, Miners — Where to Focus in Monetary Storm

Jaime Carrasco, senior portfolio manager and senior financial advisor at Harbourfront Wealth, shares his thoughts on gold and silver, saying it's important to keep the big picture in mind.

"In a nutshell, we're going back to ... sound money — money not backed by the word of a politician and bankers, but by something sound like gold, which (has been) money for 4,000 years," he said.

Keep reading...Show less
Kalgoorlie Gold Mining

Kalgoorlie Gold Mining Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×