Share Price summary
Kalgoorlie Mining Company Ltd shares are listed on the Australian Securities Exchange. Code KMC.
20 Minute Delay
Proactive Investors Latest News
The Bullant tenement package (M16/44 and M16/45) including the Bullant underground gold mine is located 20 Kilometres south-west of Ora Banda and 65 Kilometres north-west of Kalgoorlie. Access from Kalgoorlie is north via the sealed Menzies Highway, then west along the Broad Arrow to Ora Banda Road, then south via the unsealed Bullant access road. The tenements M16/44 and M16/45 are located in the Coolgardie Mineral Field within the Kunanalling District and are found on the Ora Banda 1:50,000 Map Sheet.
The Bullant project is located in the western margin of the regionally extensive Norseman-Wiluna Belt, lying within the Coolgardie Domain of the Kalgoorlie Terrane. The Coolgardie Domain consists of tholeiitic, high-magnesian basalts and komatiites, along with a felsic to intermediate volcano-sedimentary sequence termed the Blag Flag Beds. Dolerites and gabbros intrude these lithologies, along with syntectonic stocks of monzogranitic, tonalitic and granodioritic composition.
The regional geology of the Bullant area is dominated by the Bolshevic syncline which comprises a sequence of folded mafic and ultramafic rocks and interflow sediments constrained by the Zulieka Shear Zone in the east and by the Kunanalling Shear Zone in the west. These two shear zones are major crustal fault structures traceable for hundreds of kilometres along strike.
The gold mineralisation at the Bullant project is hosted in four main reefs which include Main Lode, East Lode, West Lode and Cross Lode. The Main and East lodes to date have hosted the majority of the gold mineralisation mined at the project, and are hosted in biotite altered Bent Tree basalt. The two lodes strike at 320° and dip steeply to the east. The Cross Lode is a linking structure between the Main and East; is more brittle in nature and is characterised by a mineralised quartz vein. The Main Lode strikes parallel to the Zulieka Shear Zone, and has minor structures intersecting it as splays from the Zulieka Shear Zone, which typically demonstrate high grades at the intersection lineation. The West Lode is located 10 to 20 metres to the west of the Main Lode and was discovered when intersected in the decline.
Total Production: 2.35 M tonnes @ 4.69 g/t Au for 354,216 ounces
Open pit: 388,809 tonnes @ 2.24 g/t Au for 25,907 ounces
UG: 1,951,943 tonnes at 5.14 g/t Au for 322,632 ounces
Averaged 630 ounces per vertical metre in underground
December 2012 – Resource
|Measured Resource||Indicated Resource||Inferred Resource|
|Bullant (East Lode)||50,000||6.59||10,600||192,800||4.57||28,300||401,700||4.29||55,400|
|Bullant (Main Lode)||29,200||6.82||6,400||569,300||5.04||92,300||761,600||5.46||133,800|
|Bullant (Cross Lode)||0||0||0||17,200||4.16||2,300||9,500||4.26||1,300|
|Wattle Bird Open Pit||0||0||0||1,283,200||2.04||84,200||255,800||2.02||16,600|
|Bullant Project Total||79,200||6.68||17,000||2,062,500||3.12||207,100||1,428,600||4.51||207,100|
Conceptual Exploration Target
Bullant has been mined to a vertical depth of 700 metres. Exceptional potential exists below the current defined depth of the Barrick resource. Three deep holes BUGD615 to 617 were drilled and have intersected significant mineralisation:
2 m @ 5.49 g/t Au;
210 metres below current Barrick resource depth
2 m @ 19.14 g/t Au including 0.5 m @ 56.2 g/t Au and 1.9 m @ 18.11 Au
330 metres below current Barrick resource depth
1 m @ 6.30 g/t Au
45 metres below current Barrick resource depth
Significant mineralisation exists to a depth of 330 metres below the current resource. The potential exists for a further 200,000 ounces based on the 630 ounces per vertical metre achieved through production. This is a forward looking statement and must be considered to be “back of the envelope” or a conceptual exploration target at the Bullant gold project. Further surface and underground drilling is required to understand the resource potential of the Bullant Deeps.
Bullant Mid North
Structural studies undertaken by Jigsaw Geoscience indicate potential for further mineralisation to exist. Significant intersections in holes BUGD457 and BUGD456 require follow up.
1.49 m @ 9.73 g/t Au
4.65 m @ 8.56 g/t Au
Despite the southerly plunge of the Bullant Main Lode, there is little drilling information south of the workings. Development of the 6152 level at Bullant extended definition of the Main Lode well outside the resource limits.
The main lode pinched to uneconomic widths to uneconomic widths at the end of this dricve, although gold grade tenor was still high at +10 g/t Au.
Four holes completed in 2003 intersected Main Lode style mineralisation south of this level, with two drill intercepts demonstrating economic thickness and grades of 2.2 m @ 20 g/t Au and 4.0 m @ 7.7 g/t Au. No further work was completed by Barrick after the completion of these holes.
Two main lodes can be traced from Bullant through to the northern limits of Bowerbird (Main Lode & East Lode), separated by up to 20m of waste, but typically close together 5m apart.
All lodes are contained in the Bent Tree basalt, within shear zones and quartz being a predominant host. There are many intersections throughout this area of extreme interest, and were not pursued by Barrick due to the discontinuous and poddy nature of the lodes.