Bulong Taurus

Bulong Taurus

Gold mineral rights

The Bulong Taurus project consists of 39 granted tenements, covering an area of approximately 81 km². This large, highly prospective area includes the entire historic Taurus mining centre in the northeast, part of the Bulong mining centre at Hammersmith, and historic gold batteries. Measuring over 16 km north-south by up to 9 km east-west, Bulong Taurus comprises 9 granted mining tenements surrounded by 26 prospecting licences (35 tenements in total). In addition, KalGold holds 3 prospecting tenements and an exploration licence at West Bulong, located 4 km further west towards Kalgoorlie.

KalGold is the first company in generations to assemble the full tenement package over the mining centre to fully and properly assess this highly mineralised area for significant gold deposits.

The main group of tenements are located just to the east and south of the Bulong Nickel Project processing plant and associated pits. These tenements also contain a pronounced line of northeast trending historical gold workings. Historical records indicate grades of around 13 g/t Au were recovered. There have been extensive more recent gold mining activities (mainly based on eluvial occurrences and detection of nuggets by private individuals since the 1980s) in this area.

Work commenced on the ground at Bulong Taurus prior to the Company’s ASX debut with target identification from the compilation and digitisation of all historic work programs, including soil and surface sampling, and RC and diamond drill programs. As a result of this work, KalGold now possesses the first digital record of all historic work undertaken over the entire Taurus Gold Mining Centre and have planned and completed four phases of drilling of identified targets (see details).

La Mascotte JORC (2012) Inferred Mineral Resource Estimate

The La Mascotte prospect, previously also known as Central and Central Taurus, is an outcropping area of gold mineralisation at Bulong Taurus, located about 25–35 km east to east south-east from Kalgoorlie. La Mascotte is KalGold’s lead gold project with maiden 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) (see details) announced 7 March 2023.

Other new gold discoveries at Bulong Taurus

First-pass drill testing of new target areas has intercepted significant gold mineralisation at a cluster of locations within 1.6 km of La Mascotte. All results are shallow, open in all directions, and typically associated with broad, strong gold anomalism.

Knockhill BLRC220047 12m at 2.09 g/t Au from 4m
including 8m at 2.67 g/t Au from 4m
4m at 0.89 g/t Au from 40m
BLRC220046 2m at 0.72 g/t Au from 16m
1m at 1.09 g/t Au from 22m
Thruxton BLRC220074 12m at 2.12 g/t Au from 32m
including 4m at 5.79 g/t Au from 32m
and 4m at 0.53 g/t Au from 40m
and 4m at 0.71 g/t Au from 84m
BLRC220071 1m at 1.71 g/t Au from 2m
Bonneville BLRC220062 4m at 0.62 g/t Au from 28m
4m at 1.12 g/t Au from 60m
Royal Star BLRC220058 8m at 1.23 g/t Au from 20m

At Knockhill in the north, juxtaposed mafic and ultramafic rocks are cross-cut by faults and are obscured by transported cover within a valley amongst the hills west of the Goddard Fault. Historic surface workings are evident over several hundred metres throughout this valley.

The Thruxton, Royal Star, and Bonneville prospects are hosted by the felsic volcano-sedimentary package of the Black Flag Formation. These prospects were identified through definition of surface gold anomalism in auger drilling that coincides with historic anomalism in limited shallow drill holes. They also coincide with structure sets of various orientations defined through geophysical interpretation. This is the same host sequence and same set of structures that host and control gold at La Mascotte.

These new results show that gold mineralisation is clustered over several square kilometres at Bulong Taurus. These results are consistent with the early stages of the identification of a large, regional-scale mineralising system. Follow-up drilling at the Knockhill prospect completed in October 2023 consisted of five RC holes (BLRC220080-84) for 552m. The program was designed to follow up initial discovery holes BLRC220046 and BLRC220047 from KalGold’s Phase 3 RC drilling campaign (see ASX announcement dated 27 May 2022).

RC drill hole BLRC220081, collared 40m west of BLRC220047, provided a best intersection of 6m at 1.24 g/t Au from 76-82m within an ultramafic schist, indicating mineralisation remains open down dip. A fence of three RC holes 80m to the south returned a best intersection of 1m @ 0.51 g/t Au in BLRC220082 from 53-54m from the most eastern drill hole on this line. Mineralisation remains open to the north.

Multi-element drill hole assay data is currently being reviewed in concert with additional structural and geological datasets to help characterise the Knockhill system prior to additional work.

At Royal Star, three RC holes (BLRC220085-87) for 330m were completed in October 2022 to follow up Phase 3 RC results (see ASX announcement dated 27 May 2022). Hole BLRC220086 successfully intersected the projected down dip position of gold mineralisation previously reported in BLRC220058 within an intermediate volcanic, although at sub-economic grades. An additional low grade hanging wall lode was also noted in BLRC220086, returning 3m @ 0.91 g/t Au from 26-29m.

The Royal Star prospect was initially flagged through auger geochemistry work completed by KalGold to the south-east of La Mascotte. Although recent drilling has downgraded the immediate potential at Royal Star, there remains an extensive zone of geochemical anomalism trending east-southeast between La Mascotte and Royal Star that will be systematically followed up in future work programs.