The search for the next high grade gold mine in the shadow of the Fosterville Mine at Kirkland Lake Gold is finally on! Kalamazoo Resources (ASX KZR / WKN A2PTCL), long restricted by COVID19 measures by the Australian state of Victoria, has announced the next drill programs in the Victoria’s gold fields!
Kalamazoo recently carried out a concerted initiative consisting of the taking of geochemical surface samples, detailed mapping, structural 3D modeling as well as design and planning work. Their results meant that a diamond core drilling program of at least 2,700 meters (expandable up to 4,000 meters) in the Lightning target area within the Castlemaine gold project was started on October 1st! In addition, a backwash drilling program with a planned length of approximately 7,000 meters has been planned for the South Muckleford gold project. Here Kalamazoo is only waiting for the final approval before it can also start.
As Kalamazoo CEO Luke Reinehr explained, the strategy followed from the beginning was to use technologies and innovations on this project that had never been used there before. That should help Kalamazoo make the next world class discovery in the Bedingo Zone. While these programs are very extensive, Reinehr continues, we are confident that they will lead to the identification of exploration targets that have the potential to host high-grade gold!
Castlemaine diamond core drilling program
Kalamazoo has selected the Lightning area as its next target, which is just 2 kilometers south of the Mustang target area, where Kalamazoo successfully completed the first drill program in April this year. As early as 2019, the company identified Lightning as one of the ten most promising target areas within the Castlemaine gold project. The analysis of historical gold production data and old drilling data as well as the results of previous mapping, geophysical and geochemical investigations and 3D modeling were built on.
With the drill program already under way, Kalamazoo is now targeting high grade gold targets that are consistent with promising structures, surface geochemistry, as well as IP anomalies and historical mine locations. Initially, six boreholes with a depth of 400 to 500 meters will be drilled (at least 2,700 meters) and it is assumed that this first phase of drilling will be completed by early December. Depending on the results, another drilling phase of around 1,400 meters is already planned.
South Muckleford Wells
As soon as drilling at Lightning is complete, Kalamazoo will commence backwash drilling for a total of approximately 7,000 meters on the South Muckleford project. Several geochemical surface anomalies will be tested, which are related to very promising structures as well as significant historical work. Kalamazoo has already identified four high priority targets and is only waiting for regulatory approval, which should come in the current fourth quarter.
While Kalamazoo is conducting and supervising its drilling programs over the next few weeks and months, the upstream exploration work such as mapping, soil sampling and soil geophysical surveys will be continued on several already identified and very promising target areas in order to generate further, priority drilling targets. At the same time, the interpretation and evaluation of a LiDAR investigation carried out some time ago is ongoing.
After it was quite quiet around Kalamazoo for a long time – at least on the drilling front – things are really starting again. We are really looking forward to the results of the announced drilling! In addition, Kalamazoo recently took over the promising Ashburton project in Western Australia, which already has 1.65 million ounces of gold at an average of 2.5 g / t gold. Here, too, we expect news in the foreseeable future, so that Kalamazoo should potentially be able to break out of the recent sideways movement if there is positive news. We stay on the ball!
According to Section 34b WpHG and Section 48f Paragraph 5 BörseG (Austria), we would like to point out that partners, authors and / or employees of GOLDINVEST Consulting GmbH can hold shares in Kalamazoo Resources and thus a conflict of interest could exist. Furthermore, we cannot rule out that other stock market letters, media or research firms will discuss the values we have discussed during the same period. Therefore, symmetrical generation of information and opinions can occur during this period. Furthermore, there is a consulting or other service contract between GOLDINVEST Consulting GmbH and a third party in the issuer’s warehouse (Kalamazoo Resources), which creates a conflict of interest, especially since this third party provides GOLDINVEST Consulting GmbH for a fee for reporting on Kalamazoo Resources rewarded. This third party can also hold, sell or buy shares in the issuer and would benefit from an increase in the price of Kalamazoo Resources’ shares. This is another conflict of interest.
Note: PERSONAL-FINANCIAL.COM publishes analyzes, columns and news from various sources in this section. PERSONAL-FINANCIAL.COM AG is not responsible for content that is recognizable as being posted by third parties in the “News” area of this website and does not adopt it as its own. This content can be identified in particular by a corresponding “from” label below the article heading and / or by the link “To read the full article, please click here.”; The named third party is solely responsible for this content.