Kalamazoo Resources Limited (ASX:KZR) has been granted the South Muckleford exploration licence in the Maldon Goldfield of central Victoria, near its Castlemine Gold Project.
The licence covers the highly prospective regional Muckleford fault and adjacent historical workings to the west as well as the southern strike extent of the Union Hill Gold Mine.
The licence contains numerous historical gold workings coincident with prospective second and third order fault associated with the Muckleford fault, which reveal linear trends indicative of lines of lodes consistent with that found at Kalamazoo’s Castlemine project.
“Important addition to our portfolio”
Kalamazoo’s chairman Luke Reinher said: “As a proven high-grade goldfield, South Muckleford is an important addition to our portfolio.
“It complements our nearby Castlemaine Gold Project perfectly and we will look to soon undertake low impact ground geophysical surveys to identify and map potentially gold mineralised structures for follow up diamond drilling.”
The addition of the South Muckleford exploration licence to Kalamazoo’s growing portfolio of high-quality, highly-endowed Victorian gold exploration projects is consistent with the company’s strategy which includes:
- Potential for more than 10 g/t deposits with numerous historical high-grade mines and workings;
- Majority of the exploration licence located over public land;
- Large proportion of the area consists of outcropping basement rocks with now younger sedimentary cover permitting easier, cheaper and quicker exploration;
- No systematic modern exploration has occurred in this area, eg ground geophysics surveys; and
- It is an overlooked, immature ‘greenfields’ area with very few shallow drill holes.