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Kalamazoo Resources in trading halt ahead of placement news

The trading halt will be in place until Wednesday January 15 or when an announcement is made to market, whichever occurs earliest.

Kalamazoo Resources Ltd - Kalamazoo Resources in trading halt ahead of placement news
A further six to eight diamond drill holes are planned for the Mustang prospect

Kalamazoo Resources Ltd (ASX:KZR) is in trading halt ahead of a placement.

The trading halt will remain in place until the beginning of trade on Wednesday, January 15 or when an announcement is made to market – whichever occurs earliest.

At the end of December 2019, the company received assay results from the fourth and final hole drilled at its Mustang prospect within the Castlemaine Gold Project in Victoria.

Results “support exploration strategy”

Assays revealed 1.42 metres at 261.3 g/t gold from 100.32 metres depth over a wider than interpreted interval which includes the visible gold intersection containing 0.17 metres at 1,916 g/t gold.

Kalamazoo chairman and CEO Luke Reinehr said: “Although we are in the very early days of our maiden drill program at Castle main, this exceptionally high-grade assay is extremely encouraging.

“An intersection of 1.42 metres at 261.3 g/t gold supports our exploration strategy to focus on the incredibly rich historical Castlemaine and South Muckleford goldfields in our search for the next world-class gold deposit in Victoria.”

Quick facts: Kalamazoo Resources Ltd

Price: 0.625 AUD

ASX:KZR
Market: ASX
Market Cap: $77.17 m
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