Kalamazoo Resources capped off 2019 with a promising high-grade gold drill hole intersection at the Castlemaine gold project in Victoria.
The company completed four diamond drill holes at the Mustang prospect, the fourth of which (MU19DD04) uncovered a 1.42 metre intersection at 261.3 grams per tonne of gold at 100.32 metres.
This interval also includes another visible gold intersection containing 0.17 metres at 1916 grams per tonne of gold, which follows a 17-centimetre visible gold-bearing quartz vein in early December.
Kalamazoo chairperson and chief executive officer Luke Reinehr said the intersection validated the company’s strategy to focus exploration within the historic Victorian Goldfields region, at sites such as Castlemaine and the nearby South Muckleford project.
“Although we are in the very early days of our maiden drill program at Castlemaine, this exceptionally high-grade assay is extremely encouraging,” Reinehr said.
“This is especially encouraging as the visible gold-bearing quartz vein appears to have only been partially intersected or clipped by drill hole MU19DD04.
“Being more than eight ounces per tonne of gold, an intersection of 1.42 metres at 261.3 grams per tonne supports our exploration strategy in our search for the next world-class gold deposit in Victoria.”
The Castlemaine region has produced 5.6 million ounces of gold across its life, making it one of the richest goldfields in Australia.
There has been only minor exploration completed in the past decade within the region, making it a promising area for Kalamazoo’s commitment to exploration within areas with more than 10 grams per tonne grade.
After ceasing drilling for a Christmas and New Year’s break, the company will start up again at the Mustang prospect in mid-January.
Kalamazoo will submit the remaining samples collected from MU19DD04 to the laboratory for analysis and data collected from the other drill holes will be used to review and revise the company’s 3D structural model of the Mustang prospect.
Looking further ahead, Kalamazoo plans to drill a further six to eight diamond drill holes within the Mustang prospect, which is expected to take ten weeks to complete.