New Bulong Project
Kairiki Energy's major gold venture is the New Bulong Project, a joint venture between Kairiki Energy and Central Kalgoorlie Goldmines Limited. The New Bulong Project comprises a number of prospects and covers ground which previously encompassed two joint ventures, namely the Queen Margaret Joint Venture and the New Bulong Joint Venture Project. Yilgarn Gold acquired New Bulong from AngloGold Australia Limited in 2001. The successfully negotiated joint venture with Central Kalgoorlie Goldmines Limited was announced recently.
The New Bulong Project area is located 30 kilometres east of Kalgoorlie and has been a significant gold producer in the Eastern Gold Fields of Western Australia since the discovery of gold circa 1893. There have been only two phases of mining at Bulong, the main activity between 1897-1912 and smaller production between 1923-1935 by small syndicates. Later in 1979-83, Queen Margaret Gold Mines NL extensively refurbished the main shaft at the Queen Margaret mine to the five hundred foot level and drilled a number of diamond drill holes. Elsewhere there has been no significant mining and only sporadic gold found by prospectors and fossickers using metal detectors.
Kairiki Energy has focussed its work on discovering and developing narrow vein high grade gold underground opportunities. To this end, since acquiring the project, Kairiki Energy has undertaken considerable research including aeromagnetic and ground magnetic surveys, geochemical soil, auger and rock chip sampling to identify priority drill targets. The company has generated a significant number of high calibre targets for future drilling, using the latest high powered open face sampling hammer RC rigs and current down-hole survey technology.
More information about the project is availabe in PDF below.