Kalamazoo Resources (ASX: KZR) has uncovered a broad gold-antimony mineralised zone at South Muckleford near Maldon in central Victoria, which it claims is similar to mineralisation found at Kirkland Lake’s (ASX: KLA) Fosterville and TSX-listed Mandalay Resources’ Costerfield mines in the region.
Leading expert Dr Chris Voisey has confirmed the broad epizonal gold-antimony mineralisation at South Muckleford is similar to that found at Fosterville and Costerfield.
Kalamazoo pointed out that the 9 million ounce Fosterville mine, which is 50km away, is currently the highest grade gold mine in the world with an average grade of 12g/t in resources and milled grade of 41.4g/t.
Mandalay’s Costerfield with a milled grade of 12.6g/t is the world’s sixth highest grade gold mine.
Kalamazoo wholly owns South Muckleford which covers about 161 square kilometres and comprises two exploration licences.
The project is 10km from Kalamazoo’s other 100%-owned Castlemaine gold project in the region.
Both assets are within Victoria’s Central Goldfields where more than 60Moz of gold has been extracted.
Kalamazoo pointed out South Muckleford is adjacent to the Maldon Goldfield, which is the seventh largest in Victoria.
The field has historic production of 1.975Moz gold at 28g/t plus 317,000oz of alluvial gold.
Records indicate Fentiman’s Reef which is part of South Muckleford was mined between 1860-1904 at an average grade of 1oz/t gold and up to 42% antimony.
Historic data also shows mining extended 192m deep.
The nearby Smith’s Reef prospect within the project hosts historic workings, yet no production information was kept.
Broad gold-antimony system
Latest work at South Muckleford has identified what the company expects is a broad mineralised system at the Fentiman’s and Smith’s reefs prospects.
Kalamazoo noted the prospects are “favourably located” in the hanging-wall position of the Muckleford Fault, which is “considered a deep-tapping conduit for gold mineralising fluids”.
As part of preliminary field work, soil samples taken from the project were subjected to the CSIRO’s Ultrafine+ analysis, which revealed “significant” gold, antimony and arsenic anomalies at Fentiman’s Reef and Smith’s Reef.
These anomalies were also coincident with historical workings and exploration.
Peak Ultrafine+ soil results were 53 parts per billion gold, 167 parts per million antimony and 1,740ppm arsenic.
Sampling also firmed up Charcoal Gully as a prospect.
Meanwhile, rock chips returned up to 2.9g/t gold, 117ppm antimony, 7.6ppm bismuth and 3,140ppm arsenic.
In January and February, Kalamazoo plans to continue field mapping and rock chip sampling at the project.
Additionally, ground geophysical surveys will be conducted over Fentiman’s and Smith’s reefs as well as Charcoal Gully early next year.
Other work will include an aerial LiDAR survey over the northern portion of the project along with modelling.
The information will be used to help plan a diamond drilling program.