KalGold’s Pinjin Farm-In Raises Stakes Amid Exploration Uncertainties

Farm-In Completion Marks a Major Milestone

Kalgoorlie Gold Mining Limited (ASX: KAL), known as KalGold, has announced the successful completion of its farm-in agreement at the Pinjin Gold Project, located east of Kalgoorlie in Western Australia. This transaction secures a commanding 75% interest in several tenements that host significant gold mineralisation, including the Kirgella Gift-Providence Mineral Resource and the Lighthorse and Wessex discoveries.

The farm-in deal involved a $1.65 million cash settlement, allowing KalGold to take control of key tenements while minimizing dilution for existing shareholders. The vendors will remain free carried until a positive Bankable Feasibility Study or Decision to Mine is made, after which they may convert their interest into a 2% Net Smelter Royalty.

Surpassing Initial Targets with Significant Gold Resources

Since commencing the farm-in less than two years ago, KalGold has defined over 75,000 ounces of near-surface gold, a milestone that exceeds initial expectations. The company’s Managing Director, Matt Painter, highlighted the rapid progress in delineating JORC-compliant resources at Kirgella Gift and Providence, alongside promising mineralisation and anomalism across multiple prospects.

These results underscore the potential of the Pinjin Project, which now complements KalGold’s 100%-owned tenements to form a substantial footprint within the underexplored Laverton Tectonic Zone, a region known for its rich gold endowment but still offering significant discovery upside.

Next Steps: Accelerated Exploration and Strategic Engagement

With tenure control secured, KalGold is preparing to accelerate its exploration programs, including aircore, reverse circulation, and diamond drilling. Pending assay results from recent drilling around the Lighthorse discovery will be pivotal in shaping the next phase of exploration strategy.

The company is also deploying targeted geophysical surveys to detect alteration zones and mineralisation structures, aiming to unlock additional high-priority targets. Completion of the farm-in strengthens KalGold’s position to engage with strategic and third-party partners, potentially unlocking further value through collaboration or joint ventures.

Strategic Positioning in a Prolific Gold Region

The Pinjin Project’s expanded footprint now includes historic prospects such as Newmont’s T12 and T15, alongside the Kirgella Gift-Providence corridor and the Lighthorse and Wessex discoveries. This strategic positioning within the Laverton Tectonic Zone places KalGold at the forefront of exploration in a region with proven gold endowment but relatively limited modern exploration.

KalGold’s portfolio also includes other significant projects like Taurus Bulong near Kalgoorlie, further diversifying its resource base and growth potential. The company’s focus on low-cost, shallow, open-pittable gold resources aligns with its strategy to build a robust, economically viable gold business.