KalGold Confirms Deep Gold Mineralisation at Pinjin, Launches Largest Drilling Campaign

Deep Gold Mineralisation Confirmed at Kirgella Gift

Kalgoorlie Gold Mining Limited (ASX:KAL) has delivered a significant update from its flagship Pinjin Gold Project, confirming gold mineralisation down to 300 metres vertical depth at the Kirgella Gift and Providence deposits. This extends well beyond the existing resource envelope by approximately 160 metres, marking a potential step-change in the project’s depth potential.

The company’s maiden diamond drilling program, co-funded under the Western Australian Government’s Exploration Incentive Scheme, completed four holes totalling 1,070 metres. Highlights include a 28-metre intercept grading 2.24 g/t gold from 92 metres, including higher-grade zones of 8.5 metres at 3.21 g/t and 9 metres at 2.82 g/t gold. These results confirm the presence of steeply west-dipping, shear-hosted gold mineralisation within altered ultramafic units, underpinning the primary orogenic gold system.

Core logging revealed a previously unrecognised set of north-south trending, east-dipping fault structures that offset mineralisation and will directly influence future targeting. Magnetic data interpretation suggests these cross-cutting structures dip more steeply than prior models indicated, pushing priority deeper targets further west. This structural clarity, difficult to achieve with reverse circulation (RC) drilling alone, opens new avenues for resource growth and deeper exploration.

Largest Ever Drilling Campaign Underway

Building on these diamond drilling results, KalGold has commenced its largest ever drilling campaign at Pinjin. A 41-hole RC program totalling 6,850 metres is already underway, focused on resource infill and extensions at Kirgella Gift, Providence, and the nearby Lighthorse prospect. The RC drilling aims to close data gaps in the existing 2.34 Mt @ 1.0 g/t Au inferred resource and test strike and depth extensions.

Preparations are also advanced for a follow-up diamond drill program comprising four holes for 1,800 metres, designed to test mineralised horizons up to 200 metres vertically beneath current depths. Additionally, a first-pass aircore reconnaissance program of up to 215 holes (10,750 metres) will target the largely unexplored Laverton Tectonic Zone (LTZ) Flexure, approximately 3.5 kilometres southeast of Kirgella Gift-Providence. This target coincides with a shift in LTZ strike orientation and untested structural and demagnetisation anomalies.

These multi-faceted drill programs are a continuation of KalGold’s systematic approach to exploring the LTZ, a gold belt hosting several multi-million ounce deposits including Sunrise Dam and Granny Smith. KalGold’s tenure at Pinjin is strategically located about 25 kilometres north of Ramelius Resources’ Rebecca Gold Project, placing it in a highly prospective corridor.

Portfolio Rationalisation and Financial Position

In a portfolio adjustment, KalGold sold its non-core Zelica gold project to Strata Minerals (ASX:SMX) for $20,000 cash and $80,000 in SMX shares subject to escrow. Zelica lies adjacent to Strata’s existing tenements and contains gold anomalism and historical workings but was deemed non-core to KalGold’s focus.

Financially, KalGold maintains a robust balance sheet with $2.9 million cash and no debt as of 31 March 2026. The company spent approximately $808,000 on exploration during the quarter, reflecting its aggressive drilling programs. Operating cash outflows remain modest, with payments to related parties including directors’ fees reported at $123,000. This financial position supports ongoing and planned exploration activities.

Exploration Pipeline and Resource Base

KalGold’s total inferred mineral resource remains at 214,300 ounces of gold, split between the Bulong Taurus Project (137,900 oz at 1.2 g/t Au) and Pinjin (76,400 oz at 1.0 g/t Au). Both projects feature near-surface mineralisation with grades exceeding 1 g/t gold, potentially amenable to open-pit mining. The company continues to refine targets and integrate geophysical and drilling data to unlock further resource growth.

Recent drilling has extended primary gold mineralisation along more than 1,100 metres of strike at Pinjin, open to the north, and correlates with surface gold anomalism along 1,600 metres of strike. The ongoing 41-hole RC program is designed to support resource upgrades and test continuity between deposits, while the deep diamond drilling and aircore reconnaissance aim to explore new structural targets identified from recent data.

KalGold’s concerted exploration push is supported by a detailed understanding of the LTZ’s structural geology, including the newly identified north-south faults that offset mineralisation. This insight is expected to sharpen drill targeting and improve the chances of discovering additional high-grade zones beneath and adjacent to the current resource envelope.

KalGold’s recent activity builds on earlier successes, including thick gold intercepts from diamond drilling at Kirgella Gift reported in February 2026 and the ongoing expansion of the Lighthorse gold zone over 1,100 metres strike length. The company’s methodical approach and strong cash position position it well to advance its key projects through the next stages of exploration and resource definition.

As the company pushes deeper and wider into the LTZ, the market will be watching closely for assay results from the current RC drilling and the upcoming diamond and aircore programs, which will be critical to assessing the scale and quality of the gold system at Pinjin.

Meanwhile, KalGold’s engagement with Traditional Owners and local stakeholders continues to progress, underpinning the social licence necessary for sustained exploration activity in the region.

With a well-funded and strategically focused exploration pipeline, KalGold is poised to test the depth and breadth of its gold systems in what remains one of Western Australia’s most under-explored yet prospective gold belts.

These developments follow the company’s recent 6,850m RC drilling campaign and build on insights from its diamond drilling uncovering deeper gold at Kirgella Gift earlier this year.