Kalamazoo confirms Fosterville-like gold signatures in Victoria

2021-07-22 12:18:15

ASX-listed gold explorer Kalamazoo Sources has recognized a slew of shallow epizonal gold-antimony-arsenic mineralised reef constructions throughout three prospects at its South Muckelford gold venture in Victoria that it believes are analogous to the close by Fosterville and Costerfield deposits.

The corporate is losing no time with follow-up diamond drilling “to check deeper extensions and high-priority structural targets”.

The phase-two diamond drilling is scheduled to start early in August.

Kalamazoo says 29 accomplished reverse circulation or “RC” holes for a complete of 4,499m throughout the Fentiman’s Reef, Smith’s Reef and Charcoal Gully prospects at South Muckelford have generated laboratory assay outcomes for 16 holes up to now, with delays persevering with at evaluation labs across the nation. Additional outcomes anticipated to circulation in over the following two to 4 weeks.

Whatever the delays, Kalamazoo mentioned early multi-element assay outcomes have been encouraging with a 1m composite assaying as much as 1.4 grams per tonne gold, 0.25% antimony and 0.5% arsenic from 103m down gap.

Curiously, the corporate mentioned visible inspections from reef intersections mixed with early assay outcomes revealed widespread gold-antimony-arsenic mineralisation typical of shallow epizonal fashion mineralisation and famous as a key geochemical signature of the close by multi-million ounce Fosterville and Costerfield deposits.

Kalamazoo mentioned its evaluation and modelling of structural knowledge and multi-element geochemistry assays had recognized compelling targets for follow-up diamond drill testing at Fentiman’s Reef and Smith’s Reef prospects.

As well as, early interpretations indicated reef constructions remained open each alongside dip and at depth.

We’re more than happy that our newest RC drilling has confirmed the existence of shallow epizonal gold-antimony-arsenic mineralised reefs on the South Muckleford Gold Undertaking. Particularly, our early outcomes are indicating that the vital gold-antimony-arsenic pathfinder parts are current at a a lot shallower depth in comparison with the close by Fosterville and Costerfield operations that are mining their high-grade gold and antimony deposits at a depth of greater than 600m.

“We don’t underestimate the structural complexity of the South Muckelford mineralised system nevertheless we’ve got confidence in its potential and our ongoing exploration program.”

On the Fentiman’s Reef prospect the corporate reported detailed investigations into historic mining actions between 1860 to 1904 produced high-grade gold at an eye catching 1 ounce per tonne gold.

Kalamazoo mentioned RC drilling has additionally been accomplished on the Charcoal Gully prospect and confirmed “related wanting reef constructions”. Whereas the corporate is ready for assay outcomes, it mentioned early encouraging outcomes can be investigated.

Along with the upcoming diamond drill program, administration mentioned about 2,000m of RC drilling was deliberate for the final quarter of 2021 on the 100% owned Tarnagulla gold venture.

The corporate mentioned this system was designed to check a major 1.4km ultrafine gold in soil anomaly that returned values higher than 100 components per billion gold and was coincident with vital historic mine workings.

One such working is the “Poverty Reef” mine situated 1km alongside strike to the south which had reported manufacturing of 360,000 ounces at a whopping 92 grams per tonne gold.

Is your ASX-listed firm doing one thing fascinating? Contact: matt.birney@wanews.com.au

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Supply by [earlynews24.com]