NEWLY listed Kalgoorlie-Boulder Resources has started a 1000m drill campaign at its flagship Jackpot project near Coolgardie, with the aim to finalise the initial pit design prior to the start of mining in the December quarter.
The Jackpot project contains indicated and inferred resources of 333,000 tonnes grading 6.5 grams per tonne gold containing 69,600 ounces. The company is planning to initially develop a small scale mine, around 5000oz, and then move onto something larger.
Kalgoorlie Boulder Resources has six projects prospective for gold and nickel, five within a short distance of Kalgoorlie, including the Broad Arrow gold project, the Dunnsville gold project, the Clinker Hill gold project near the gold mining centres of Wombola, Morelands Find and Walkers, and the Siberia gold project.
The company's sixth project, Lake Johnston, is situated 90km south east of Norseman and located within a major nickel province. The main interest is a large magnetic unit in the northern section of this single tenement project which has not been the subject of any exploration activity to date.
On the board front - Trevor Matthews heads up the outfit, whose resume includes senior roles at North Limited and WMC Resources, with current Gleneagle Gold and Providence West's David Prentice, and Kalgoorlie identity Ken Allen, assuming non-executive director roles.
Kalgoorlie Boulder Resources listed on the Australian Stock Exchange on April 20 after raising $3.2 million in its Initial Public Offering. The company offered 16 million shares at 20c each.
Shares in the company remained unchanged during late afternoon trade at 20c.
