Kalamazoo Resources (ASX: KZR) has revealed “highly encouraging” results from a recent reverse circulation drilling program at the South Muckleford project in Victoria.
The company competed 29 holes for 4,499m across the project’s Fentiman’s Reef, Smith’s Reef and Charcoal Gully prospects.
According to Kalamazoo, these prospects are high priority targets with the gold-antimony-arsenic mineralisation deemed analogous to Kirkland Lake Gold’s (ASX: KLA) nearby Fosterville deposit and TSX-listed Mandalay Resources’ Costerfield mine.
Kalamazoo chairman and chief executive officer Luke Reinehr said the company was “very pleased” drilling has confirmed the existence of shallow epizonal gold-antimony-arsenic reefs at South Muckleford.
“In particular, our early results are indicating the important gold-antimony-arsenic pathfinder elements are present at a much shallower depth compared to the nearby Fosterville and Costerfield operations, which are mining their high-grade gold and antimony deposits at a depth of more than 600m.”
The mineralised reefs at the prospects remain open along strike and at depth.
A follow-up diamond drilling program is scheduled to begin early next month to test the targets identified at Fentiman’s and Smith’s reef prospects.
Mr Reinehr said the upcoming program would also test deeper extensions.
“We do not underestimate the structural complexity of the South Muckleford mineralised system; however, we have confidence in its potential and our ongoing exploration program.”
The next batch of assays from the recently completed program is expected in the next two-to-four weeks.
Tarnagulla gold project
Over at the Tarnagulla project, which is also in Victoria, Kalamazoo plans to complete a 2,000m RC drilling program in the December quarter.
This program will test a “significant” linear Ultrafine+ gold in soil anomaly that is coincident with existing historical hard rock workings.
“The Tarnagulla gold field has a rich history of high-grade/bonanza gold production with our Tarnagulla gold project excellently located within the extensive line of significant historical mines,” Mr Reinehr said.
“The 1.4km long strongly anomalous gold in soil anomaly we have recently identified makes for a compelling target, which we will soon commence drilling.”