‘Lighthorse’ Gold Discovery at Pinjin: Thick, High-grade Gold Intercepted at New Greenfields Find

• Thick, high-grade gold intercepts at Lighthorse include:
  • KGAC24152: 17 m at 4.81 g/t Au from 48 m, including 8 m at 9.21 g/t Au from 52 m (hole ends in mineralisation)
  • KGAC24153: 4 m at 4.72 g/t Au from 52 m (hole ends in mineralisation)
• These intercepts form a high-grade centre to previous results (ASX: KAL 18/12/24), including:
  • KGAC24045: 8 m at 2.29 g/t Au from 60 m, including 4 m at 3.66 g/t Au from 64 m
  • KGAC24036: 4 m at 1.05 g/t Au from 52 m
• Lighthorse is a KalGold-generated, greenfields gold discovery, characterised by:
  • A 200 m wide primary gold target on the discovery section, open down dip.
  • A 600 m strike, parallel to the Laverton Tectonic Zone, open to the northwest and southeast.
  • Crosscutting mineralised structures extending over 800 m, open to the northeast.
• o A footprint larger than either KalGold’s Kirgella Gift or Providence gold deposits
  • No outcrop, and no effective historic drilling.
• Extensive, contiguous, widely-spaced intercepts suggest a large primary gold system obscured by transported cover. Further drilling is required to define the system’s full extent.
• Lighthorse is located in the southeast of the Eastern Goldfields, an area which is becoming a focus for gold discovery and development. It is located:
  • 1 km west of KalGold’s Kirgella Gift and Providence gold deposits,
  • 12 km south of Hawthorn Resources’ (ASX:HAW) Anglo Saxon Gold Mine,
  • 22 km northwest of Ramelius Resources’ (ASX:RMS) Rebecca Gold Project
  • 30 km east of OzAurum Resources’ (ASX:OZM) high-grade gold discovery at Mulgabbie North
• A priority follow-up RC drill program is being fast-tracked for March 2025, pending rig availability.

For MD and CEO Matt Painter’s thoughts on the Lighthorse gold discovery, please see our video on the KalGold Investor Hub at https://investorhub.kalgoldmining.com.au/link/mepb1P

Commenting on the discovery, KalGold Managing Director Matt Painter said:

“This is what we’ve been chasing at Pinjin. Our systematic approach to exploration has paid off. Thick, high-grade gold mineralisation at Lighthorse is located just 1 km west of our Kirgella Gift deposit, beneath transported cover in an area of zero outcrop. This is a 100% KalGold generated discovery that reinforces the exceptional growth potential at Pinjin. The full extent of the emerging Lighthorse target is unconstrained at this stage, but we have already identified mineralisation over a 600 m northwest-southeast strike length, parallel to the local grain of the Laverton Tectonic Zone, and open along strike and at depth. Additional gold mineralised trends associated with cross-cutting structures are also evident, extending over 800 m and open to the northeast.

Follow up RC drilling is scheduled for March 2025. We also expect to follow up previously reported thick, shallow gold intercepts at Wessex (ASX: KAL 09/10/24), next door to the Anglo Saxon Gold Mine (HAW), in this upcoming RC drill program.

This is an incredibly exciting time at KalGold. Recently announced discoveries by some of our neighbours, together with this new Lighthorse discovery, are cementing this south-eastern part of the Eastern Goldfields as a hot spot for exploration, discovery, and development. KalGold holds an extensive and strategic footprint within this incredible, historically overlooked area.”

High-grade gold intercepts define the Lighthorse discovery at Pinjin

Drilling in December 2024 successfully expanded upon an extensive earlier aircore program at Kirgella West (Figure 1). The new drilling intersected thick, high-grade gold mineralisation beneath transported sediments (Table 1). Four of these five new holes returned significant gold intercepts, with two of the drill holes ending in mineralisation with the rig unable to penetrate the fresh, mineralised rock. Gold mineralisation is open along strike and down dip.

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