The Australian gold explorer delivers promising news at the end of the year Kalamazoo Resources (WKN A2PTCL / ASX KZR)! The company, which is looking for the “next Fosterville mine”, appears to have taken an important step closer to achieving this goal.
Kalamazoo Resources announced today that a broad zone of gold and antimony mineralization has been discovered on the South Muckelford project in the center of the Australian state of Victoria – and this is the mineralization that occurs on the Kirkland Lakes Fosterville Mine – currently the highest grade gold mine in the world. but also prevail on Mandalay Resources’ Costerfield Mine, very similar! Also a leading expert, Dr. Chris Voisey, who has been dealing with Fosterville for a long time, has confirmed this thesis.
Fosterville, the mine, which holds 9 million ounces of gold, is located approximately 50 kilometers from the South Muckelford project and averages 12 g / t gold in resources with a mill grade of 41.4 g / t gold lies! Mandalay’s Costerfield Mine has the sixth highest gold grades in the world, grading 12.6 g / t gold when ground.
Kalamazoo’s Kalamazoo project is 100% owned, consists of two exploration licenses and covers an area of approximately 161 square kilometers. Just 10 kilometers away is Castlemaine, the Company’s second gold project in the area. This is the Central Goldfields of Victoria, from which over 60 mo. Ounces of gold have been extracted so far. As noted by Kalamazoo, South Muckleford is adjacent to the Maldon gold field, Victoria’s seventh largest, which has a historic production of 1.975 million ounces at 28 g / t gold and over 300,000 ounces of alluvial gold.
One such historic mining site is Fentiman Res Reef, which is part of South Muckleford and had an average grade of 1 ounce gold (!) And up to 42% antimony in production between 1860 and 1904. The Smith’s Reef area, which is close to and also within South Muckelford, also has historic mining facilities. However, no production information was kept here.
Kalamazoo has now discovered what is believed to be a powerful mineral system that spans both Fentiman’s and Smith’s Reef using state-of-the-art techniques. The Company indicated that both areas are conveniently located in the hanging wall of the Muckelford Fault, which is believed to be the deep ladder structure for gold mineralization fluids.
As part of the initial work on the project, Kalamazoo had collected soil samples that were subjected to analysis by the Ultrafine + technology of the Commonwealth Scientific and Industrial Research Organization (CSIRO) – and identified “significant” gold, antimony and arsenic anomalies at Fentiman’s Reef and Smith’s Reef . And these coincided with the historical work and exploration!
The highest values of the Ultrafine + soil analysis were 53 ppb gold, 167 ppm antimony and 1,740 ppm arsenic. The samples also confirmed Charcoal Gully as a prospect area. Simultaneously, rock chip samples returned up to 2.9 g / t gold, 117ppm antimony, 7.6ppm bismuth and 3,140ppm arsenic.
Kalamazoo plans to continue working in the field in January and February, including mapping and collecting additional rock chip samples at South Muckelford. In addition, geophysical soil surveys over Fentiman’s Reef and Smith’s Reefs as well as Charcoal Gully are to be carried out in the New Year.
In addition, Kalamazoo will fly a LiDAR survey over the northern part of the project and begin modeling the data. The aim is to gain information for a later diamond core drilling program.
The work on South Muckelford provides the first significant indications that Kalamazoo may also be on the right track on South Muckelford. In any case, we consider the apparently great similarity of the mineralization now identified to the Fosterville and Costerfield mines, which has also been confirmed by an expert for this region, to be very promising. South Muckelford and the company’s other very exciting gold projects should see a strong news flow in 2021. We will definitely keep the readers of GOLDINVEST.de up to date.
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In accordance with 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 may 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.
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