Exploring for hidden Goldfields in the Laverton Tectonic Zone

Pinjin Gold Project

Located 140 km east-northeast of the City of Kalgoorlie-Boulder, KalGold’s Pinjin Project is hosted within the NW-SE trending regional structural domain known as the Laverton Tectonic Zone (LTZ). The LTZ hosts over 20 significant gold deposits including Sunrise Dam, Wallaby, Granny Smith, Red October, Anglo Saxon, Rebecca and several gold fields which cumulatively contain more than 30 million ounces of gold.

However, the southern part of the Laverton Tectonic Zone (and neighbouring Celia Tectonic Zone) is less explored than the northern area, largely due to poorer outcrop. KalGold believes this is why some of the largest discoveries in recent years, like Rebecca (Ramelius Resources ASX: RMS) and Lake Roe (Breaker Resources ASX: BRB), are located in this region.

With KalGold recognising the significant potential of the area to host large-scale gold deposits, the Company has, since listing, focussed on building a ground position in the area. KalGold aims to continue to establish a significant land holding in what it believes is one of the most prospective parts of the Eastern Goldfields province.

At Kirgella and Pinjin South, tenure is the subject of a farm-in over the next two years to expand upon known mineralisation. Between this tenure and KalGold’s existing tenure and applications, the Company has established a significant presence in a strategic and important region.

KalGold’s Gold Exploration Strategy - Discovering hidden goldfields at Pinjin

The south of the Laverton Tectonic Zone mirrors the well-endowed north, where wide North-South zones host >5Moz of gold. Kalgold is systematically exploring their tenements in the South of the Lavertone Tectonic zone, where the north-south structures of the well endowed north are repeated.

• KalGold has already defined a shallow JORC Inferred resource at Kirgella Gift and Providence 2.34 Mt @ 1.0 g/t Au for 76,400 oz – see full MRE table below
• Kalgold hold a large strategic footprint with multi-million once potential
• Numerous targets for testing
• Discoveries from proven exploration technique
• Only ~10% of targets tested to date
• Kalgold work programs expanding

Lighthorse

• Lighthorse is a KalGold-generated, greenfields gold discovery (ASX release 7 February 2025), 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.
  • A footprint larger than either KalGold’s Kirgella Gift or Providence gold deposits
  • No outcrop, and no effective historic drilling.
• Thick, high-grade gold intercepts beneath cover, open along strike and at depth (ASX release 7 February 2025) include:

  Selected drill hole intercepts from KalGold’s first RC drill program at Lighthorse

  Drill hole	Intercepts	Enveloping zone
  KGRC25001	9 m at 3.52 g/t Au from 58 m including 2 m @ 13.65 g/t Au from 58 m	32 m at 1.14 g/t Au from 55 m
  	3 m at 5.52 g/t Au from 133 m including 2 m @ 7.92 g/t Au from 133 m	6 m at 2.88 g/t Au from 133 m
  KGRC25004	8 m at 1.54 g/t Au from 56 m including 2 m @ 3.19 g/t Au from 56 m	16 m at 0.87 g/t Au from 54 m
  KGRC25005	1 m at 5.76 g/t Au from 56 m	3 m at 2.22 g/t Au from 56 m
  KGRC25010	2 m at 1.86 g/t Au from 51 m including 1 m @ 2.32 g/t Au from 51 m	3 m at 1.32 g/t Au from 51 m
  	2 m at 3.04 g/t Au from 76 m including 1 m @ 4.99 g/t Au from 76 m	3 m at 2.06 g/t Au from 76 m
  KGRC25013	9 m at 0.56 g/t Au from 56 m	17 m at 0.38 g/t Au from 51 m
  	3 m at 2.58 g/t Au from 112 m including 1 m @ 6.24 g/t Au from 112 m	4 m at 2.00 g/t Au from 111 m
  KGRC25014	5 m at 2.64g/t Au from 147 m	12 m at 1.29 g/t Au from 147 m
  Intercepts calculated at >0.5g/t gold cut-off (“Including” intercept >2.0g/t Au cut-off) with 2 m maximum internal waste. Enveloping zone gold anomalism is calculated at >0.1g/t Au cut-off with 2 m maximum internal waste.

• 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
• Broader gold mineralisation and alteration over 1.6km strike, associated with:
  • Quartz (+ carbonate) veining
  • Siliceous and sericitic alteration
  • Sulphides
  • Extensive bleaching
  • Supergene enrichment
• Full extent being defined by ongoing drilling with KalGold’s largest ever RC drill program
• Confirmation of primary gold to prompt high-density follow-up drilling

Wessex

The Wessex and Harbour Lights prospects are located on tenure to the south of the Anglo Saxon gold mine at Pinjin South.

• Gold in historic drilling to tenement boundary next to Anglo Saxon gold mine (HAW)
• Both prospects are hosted by the sheared volcano-sedimentary sequence that constitutes the Laverton Tectonic Zone at Pinjin. Mineralisation is associated with quartz-carbonate veining and alteration selvages at both prospects, similar to that at Anglo Saxon to the north and Kirgella Gift to the south.
• The Wessex prospect shows evidence of being part of the broader Anglo Saxon gold mineralised system, with Hawthorn Resources’ (ASX:HAW) open pit mine located less than 1 km from the drill program.
• 2km long, thick, shallow gold mineralisation defined by KalGold aircore programs (ASX release 23 May 2024, ASX release 9 October 2024).
  • PSAC24001: 28 m at 1.27 g/t Au from 36 m
    including 8 m at 1.90 g/t Au from 44 m and 8 m at 2.15 g/t Au from 56 m
  • PSAC24029: 12 m at 1.17 g/t Au from 52 m
    including 4 m at 3.07 g/t Au from 56 m
  • PSAC24072: 4 m at 2.06 g/t Au from 52 m
    including 3 m at 2.69 g/t Au from 52 m
  • PSAC24067: 16 m at 0.77 g/t Au from 28 m
    including 4 m at 2.37 g/t Au from 28 m
  • PSAC24065: 8 m at 0.94 g/t Au from 36 m
    including 4 m at 1.72 g/t Au from 36 m
• As part of KalGold’s largest ever RC drill program which is currently underway, seven holes (1,050 m) will test beneath thick, shallow gold mineralisation adjacent to the (off-tenure) Anglo Saxon open pit gold mine.

Kirgella Gift & Providence

• An initial JORC Code (2012) Mineral Resource Estimate at Kirgella Gift and Providence of 2.34 Mt @ 1.0 g/t Au for 76,400 oz of gold from only 3 m depth (0.5 g/t Au cut-off) was announced 25 July 2024.
• Highly economic discovery with KalGold’s direct exploration expenditure cost (drilling and assay) of only ~A$4.20 per gold ounce.
• The combined Kirgella Gift and Providence MRE is of a similar geometry, mineralisation size and grade to Ramelius Resources Duke deposit at Rebecca, which contains 2.7 Mt @ 1.1 g/t Au for 98,000 ounces of gold (ASX: RMS 14 September 2023).
• With a number of high-quality exploration targets across KalGold’s Pinjin land holding (ASX release 3 April 2024), and the Kirgella Gift and Providence MRE, the Company sees opportunity for further discoveries within the Pinjin area.

The main area of historic focus on the new tenure is at Kirgella Gift, around 13 km south of Anglo Saxon pit. Here, thick, high-grade mineralisation was discovered at shallow levels along 250 metres of strike and remains open in all directions.

Kirgella Gift sits within a geological package of strongly sheared magnetic and sulphidic rocks that extend for a length of approximately 5 km. An associated pronounced geochemical anomaly extends over 5 km by 1 km. Gold mineralisation coincides with distinct breaks and demagnetised zones in a magnetic ridge.

Historic drilling at Kirgella Gift (prior to 2011) identified shallow, high-grade gold mineralisation. Impressive results included:

• RC drill hole KGRC004 (drilled in 2011) contained an intercept of 33 m at 3.1g/t Au from 51 m, including:
  • 12 m at 4.66g/t Au from 52 m,
  • 2 m at 7.01g/t Au from 73 m, and
  • 1 m at 14.25g/t Au from 80 m.
• In 1999, discovery aircore drillhole KSR006 returned 32 m at 2.61g/t Au from 13 m, including:
  • 6 m at 2.61g/t Au from 18 m,
  • 5 m at 3.75g/t Au from 27 m, and
  • 7 m at 4.47g/t Au from 37 m.

These holes were drilled by different companies using different drill methods and variable assay suites (with inherently different detection limits and sensitivities).

In 2023, KalGold undertook several phases of RC drill holes, with phase 1 in the vicinity of the above historic holes, which identified broad zones of shearing and alteration contained poly-deformed, zoned, quartz-carbonate(-pyrite) veining approximately corresponding to historic mineralisation intercepts. Visible gold was identified at 50 m depth in drill hole KGRC23002. Cautionary Statement: Visible gold does not provide precise, accurate, or repeatable indications of gold grade. Laboratory assay results are required to determine the widths and grades of any mineralisation reported in preliminary geological logging.

On 25 October 2023, KalGold announced exceptional results from the next phase of RC drilling:

• Shallow, high-grade intercepts at Providence, including:
  • KGRC23008: 11 m at 2.51 g/t Au from 32 m
    including 4 m at 5.63 g/t Au from 39 m
  • KGRC23009: 14 m at 1.32 g/t Au from 125 m
    including 2 m at 4.45 g/t Au from 132 m
• Kirgella Gift intercepts build on historic data at shallow and deeper levels, moving the dataset one step closer to defining a JORC Code (2012) Mineral Resource Estimate.
  • KGRC23007: 11 m at 1.56 g/t Au from 24 m
    including 4 m at 2.98 g/t Au from 27 m
    and 6 m at 1.18 g/t Au from 45 m
  • KGRC23011: 10 m at 1.16 g/t Au from 85 m
    including 1 m at 2.90 g/t Au from 88 m
    and 15 m at 0.98 g/t Au from 166 m
    including 4 m at 2.14 g/t Au from 173 m
  • Multiple lodes evident with gold mineralisation open in all directions.
  • All intercepts are encased within coherent, sub-grade shear zones which assists correlation, interpretation, and targeting.
• Coherent, sheared gold mineralisation also tagged at Kirgella North (KGRC23004: 4 m at 1.50 g/t Au from 93 m), 90 m north of Kirgella Gift.

The Providence prospect is situated only 700 m south of Kirgella Gift and likewise corresponds with demagnetisation on a break in a magnetic ridge. The prospect’s discovery was one of the last actions taken by the previous explorer and was never systematically followed up. Prior RC drilling is limited to only two holes for 290 m. Within these, a significant intercept was defined: 10 m at 2.11g/t Au from 71 m, including 3 m at 3.41g/t Au from 78 m, in KGRC020.

Other Pinjin prospects

T12 Prospect

The T12 Prospect lies 1.5 km north of Kirgella Gift and was defined by Newmont in 2008.

A number of anomalous aircore and RAB end of hole anomalies were followed up by RC or DD drilling. However, follow-up drilling failed to identify anomalies at depth and the vast majority of these anomalies were cancelled.

The most significant DD intersection included 5.9 m @ 7.2 g/t Au from 89.7 m in NEWPJDD0001. The interval is reported to be within a near vertical quartz-chlorite-carbonate-chalcopyrite-pyrite vein.

However, follow up diamond drilling to the immediate north and south of NEWPJDD0001 by Newmont and later by Renaissance reportedly failed to reproduce the high-grade results. A number of additional aircore anomalies remain to be followed up, including 6 m @ 1.4 g/t Au from 93 m (NEWPJAC0044).

T15 Prospect

The T15 Prospect lies on E28/2654 and is located 1.5 km southwest of Kirgella Gift.

Renaissance conducted reconnaissance aircore drill testing of the prospect in 2011 with results confirming the presence of significant anomalous gold. A total of 47 aircore holes were completed following up anomalous gold identified by historical Newmont drilling.

All holes were drilled vertically on a broad grid spacing of 50 m x 100 m. The aim of the program was to drill to blade refusal, through the transported regolith and into the underlying bedrock.

Fourteen holes intersected anomalous gold (+100 ppb Au) beneath transported overburden in weathered bedrock, with the program identifying a significant bedrock gold anomaly covering ~600 metres in strike that remains open to the north and south and potentially several hundred metres in width.

First pass drill results included:

• PJAC0552: 2 m @ 9.98g/t gold from 72 m
• PJAC0554: 2 m @ 8.47g/t gold from 93 m
• PJAC0524: 5 m @ 1.12g/t gold from 70 m

At the time, Renaissance reported it was extremely encouraged by the initial results and was planning a follow up drilling program that would include step out and further infill aircore drilling and some deeper holes.

However, there was limited deeper follow-up RC and DD drilling due to Renaissance’s refocus on high-grade gold exploration in Cambodia. Of note, scissor diamond holes below aircore hole NEWPJAC00465 (4 m @ 1.1 g/t Au from 94 m) failed to show any primary gold mineralisation.

There are several other aircore anomalies that have not had follow up drilling with deeper RC, including 1 m @ 30.1 g/t Au in NEWPJAC0229 from 90 m.

Rebecca West

The Rebecca West tenure lies between the Pinjin Mining Centre and Ramelius’s Rebecca Gold Project. E28/3135 is located only 1.5 km west of the Rebecca Project tenure, and only 9 km west of the proposed Rebecca gold processing plant site.

The tenure is peripheral to (but does not include) an internal granite within the Laverton Tectonic Zone. Though superficially similar to the Wallaby deposit (northern Laverton Tectonic Zone) in terms of geometry, much more work is required before it can be determined whether any such target exists on the tenure.

Historic exploration on the tenure has been very limited, with only a single line of shallow aircore holes of any note. Preliminary targeting by KalGold has identified a number of structural targets that will require further examination and ranking before exploration can commence.

Jungle Dam prospect

The Jungle Dam prospect is a gold-in-granite prospect located on E31/1119 that was last explored during the 1990s. Anomalism is associated with a rupture within the internal Jungle Dam Granite. That granite has intruded into the supracrustal sequence that has been strongly deformed by the Celia and the Laverton Tectonic Zones. Work is ongoing to identify and digitise all historic datasets.

Additional gold plays are also apparent around the margins of the Jungle Dam Granite and elsewhere in the shear zones that wrap around it.

Though only gold has been explored and assayed historically, the area may also be prospective for lithium.