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Kalamazoo Resources about to kick-off 10,000-metre diamond drill program at Castlemaine Gold Project

The Castlemaine goldfield has historically produced 5.6 million ounces and is considered one of the richest fields in Australia, with only minor exploration and limited drilling activity undertaken over the past decade.

Kalamazoo Resources Ltd - Kalamazoo Resources to begin 10,000m diamond drilling program at Castlemaine Gold Project
Deepcore Drilling is a highly experienced drilling company set to conduct drilling at the Castlemaine project

Kalamazoo Resources Ltd (ASX:KZR) has awarded a 10,000-metre diamond drilling contract at the Castlemaine Gold Project in central Victoria to Deepcore Drilling.

The company issued a scope of work for a two-stage drilling program to take place in the latter part of 2019 and early 2020 to three reputable drilling contractors.

The scope was for the provision of about 25 by 400-metre diamond drill holes at the project where the company is focused on unlocking high-grade deposits similar to that at Kirkland Lake Gold Ltd's (TSE:KL) Fosterville mine to the northeast.

The drilling program will test encouraging results and interpretations of Kalamazoo’s ground and geophysical surveys as well as 3D structural geology modelling in areas of high prospectivity.

Initial targets “demand follow up drilling”

Chairman Luke Reinehr said: “We are very pleased to have engaged such an experienced operator for our maiden Castlemaine Gold Project drilling campaign.

“The initial targets identified by our geophysical surveys and 3D structural geology modelling are very encouraging and demand follow-up drilling.

“What we learn from this drilling will then be fed into our ongoing geophysical and CSIRO collaboration programs to assist in identifying towards gold mineralisation targets.”

Central Victoria regional gold exploration tenure with Kalamazoo’s Castlemaine and South Muckleford projects.

A stage-I drilling program will consist of 4,000 metres of diamond drilling designed to test interpretations of the initial ground geophysical surveys carried out by the company.

The application of modern ground geophysical survey techniques is a key feature of Kalamazoo’s exploration strategy.

Drilling will focus on high-priority targets defined within the northern area of EL6679, which has recorded several high-grade intersections in historical drill holes.

Reinehr said, “Driven by Kirkland Lake’s tremendous and ongoing results at its nearby Fosterville Gold Mine to the northeast, there is very strong interest in our Castlemaine Gold Project and expanding exploration portfolio in the immediate area.

"Kalamazoo is in an excellent position financially to deliver on its exploration programs in the exciting Central Victorian zone and we look forward to reporting drilling results over the coming months.”

The results of the stage-I program will be further used to refine Kalamazoo’s conceptual models and targets, as well as provide critical input into future planned geophysical surveys and the stage-II drilling program.

The stage-II program will comprise 6,000 metres and is expected to occur in early 2020.

Quick facts: Kalamazoo Resources Ltd

Price: 0.605 AUD

Market: ASX
Market Cap: $74.7 m

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