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The latest update is out from Kalgoorlie Gold Mining Limited ( (AU:KAL) ).
Kalgoorlie Gold Mining reported a strong March quarter marked by its first diamond drilling program at the Kirgella Gift and Providence deposits within the Pinjin Gold Project, confirming primary orogenic gold mineralisation to 300 metres depth, well below the current resource envelope. The work also identified new north–south, east-dipping structures that are reshaping deep drill targeting and underpinning plans for a large, multi-pronged exploration push.
The company has commenced its largest drilling campaign to date, including a 41-hole RC program, a follow-up 4-hole diamond program and a substantial aircore reconnaissance program over the largely unexplored LTZ Flexure target. Backed by a $2.9 million cash balance and no debt, Kalgoorlie Gold Mining is positioning Pinjin for resource growth in an underexplored but highly endowed gold belt adjacent to major established deposits.
More about Kalgoorlie Gold Mining Limited
Kalgoorlie Gold Mining Limited is an Australian gold exploration company focused on the Pinjin Gold Project in the southern Laverton Tectonic Zone, about 140 km northeast of Kalgoorlie-Boulder. Its flagship assets are the Kirgella Gift and Providence deposits, which host an Inferred Mineral Resource of 2.34 Mt at 1.0 g/t gold for 76,400 ounces from shallow depths, in a belt that also hosts several multi-million-ounce operations.
Average Trading Volume: 581,544
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$18.23M
Find detailed analytics on KAL stock on TipRanks’ Stock Analysis page.