Kalamazoo acquires major Victorian gold project

Kalamazoo Resources Ltd has been granted Exploration Licence EL006679 covering the Wattle Gully gold project, near the town of Castlemaine, in Victoria, Australia. In addition, Kalamazoo has made a further exploration licence application EL006752, to the east and south of the granted tenement, covering regional geological structures known to be associated with gold potential.

Granted Exploration Licence 006679 (Wattle Gully) lies immediately east and south of the town of Castlemaine and covers almost the entire historic Castlemaine Goldfield with a total area of 70 km2. An application for a second Exploration Licence 006752 (Wattle Gully South), covers an area of 218 km2, thus taking the total tenement holding (once granted) to 288km2.

Both tenements overlie major sub-parallel faults:

  • Rare opportunity to secure an advanced regional gold asset, extensive exploration database and substantial drill core farm at minimal cost
  • The Castlemaine Goldfield produced 5.6 Moz of gold across its life and is one of the richest gold fields in Australia, only minor exploration activity has occurred over the past decade with limited effective drilling below 400 m
  • There is significant potential to apply modern exploration techniques as successfully applied at Kirkland Lake Gold’s Fosterville gold mine and Catalyst Metals Tandarra gold project north of Castlemaine
  • Database reconciliation is being completed ahead of comprehensive exploration review, development of exploration targets and major drilling program: database reconciliation expected to be completed Q3, 2018 and exploration review and development of drill targets Q4, 2018
  • Baillieu Holst, one of Australia’s leading financial advisory firms has been appointed to assist with fund raising ahead of a major exploration program.