2021 begins with a significant rise in the price of gold, which also helps the juniors in the industry on the jumps. The Australian gold explorer Kalamazoo Resources (ASX KZR / WKN A2PTCL) also comes up with news that promise something exciting for the future!
As reported today, Kalamazoo completed the first drill program on the Ashburton gold project by the end of December. The company acquired the project in the Pilbara region, in which De Gray Mining is so spectacularly successful, from Northern Star Resources in June – and set itself the goal of significantly expanding the existing resources.
The first step towards this goal was the now completed drill program, which included 5,677 meters of backwash and 104 meters of diamond core drilling. Kalamazoo focused on the Waugh and Connie’s Find prospect on the northern side of the Diligence Dome and Peake and Peake West on the southern side of the dome.
These areas were selected as priority targets as they already host gold deposits as per the JORC 2012 standard, including 3.7 million tonnes at 3.3 g / t gold, 399,000 ounces for Peake and 0.59 million tonnes 3.6 g / t gold for 68,000 ounces at Waugh. In addition, these areas along strike and on the drop have hardly been drilled and, according to Kalamazoo, therefore have the potential to show new oxide mineralization as well as primary sulphide gold mineralization.
Kalamazoo is awaiting the results of laboratory analysis, but it is suggested that the promising quartz and ironstone units encountered in the Waugh and Connie’s Find areas are typical of the “Waugh-type” mineralization in the existing Waugh resource ! In the Peake West area, thick zones of pale siltstone were encountered beneath anomalous rock chip samples in the western extent of the mineralized Peake structure.
We are curious to see whether these promising, first interpretations will also be reflected in interesting gold content and will of course report as soon as Kalamazoo presents the results. The company also announced in late 2020 that the diamond core drilling program in the Lightning area, part of the Castlemaine project in Victoria, had also been completed. Kalamazoo should therefore come up with results from these two projects in the near future. Should these turn out to be positive, in our view, in view of the renewed gold price, this could lead the Kalamazoo share, which has recently been stronger again, even further up. Of course, as with all exploration companies, the risk is high here, since drilling success is by no means guaranteed.
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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 information and opinion generation 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.
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