Kalamazoo Resources was awarded a grant under the Australian Government’s Department of Industry, Innovation and Science Innovation Connections scheme, which will assist with a collaborative research program with CSIRO to map mineral gradients and potential vectors to gold mineralisation within the Castlemaine Gold Project in Central Victoria.
“We consider that this innovative research is timely and a good fit with our strategy of applying smarter, more modern exploration techniques to this tenement package as new targets are defined” Kalamazoo’s Chairman, Mr Luke Reinehr, said.
Kalamazoo acquired the entire Castlemaine Goldfield including the historic Wattle Gully gold mine and surrounding 288km2 in June 2018. The Company’s Exploration Licence (EL006679) and application (EL006752) cover major structures interpreted to be commonly associated with high gold potential. Included in the acquisition of this advanced regional gold asset was an extensive exploration database and substantial drill core farm.
The Castlemaine Goldfield produced 5.6M ounces of gold across its life and is one of the richest gold fields in Australia, with only minor exploration activity having been undertaken over the past decade and with limited effective drilling below 400m.
Kalamazoo considers there is significant potential to apply modern exploration techniques, and to look for high grade mineralisation at depth. This is a similar strategy that has been successfully applied at Kirkland Lake Gold Limited (ASX: KLA) Fosterville gold mine, 45km to the north east and Catalyst Metals Limited (ASX: CYL) Tandarra gold project north of Castlemaine.
Innovation Connections is an element of the Australian Government’s Entrepreneurs’ Programme aiming to drive business growth and competitiveness by supporting business improvement and research collaboration in targeted growth sectors
The Company will engage with CSIRO in Perth, Western Australia to undertake a field sampling program and detailed laboratory studies. This work is aimed at mapping geochemical gradients at Wattle Gully and elsewhere within the project area to provide discriminators of both the primary stratigraphy and alteration associated with gold mineralisation that can in turn be applied as vectors to new target areas for exploration.
One of the keys is unlocking value from the 80,000m of historical drill core located in the project area. Sampling of a carefully selected set of drill cores to assess the usefulness of a combined lithogeochemistry and mineralogy based vectoring approach is scheduled to commence in April with completion of laboratory investigations by October 2019.
CSIRO has a long history and track record of innovation working with the gold sector. In other research projects, CSIRO is applying breakthrough concepts and technologies to produce integrated maps of mineral systems that in turn can be used to maximise the probability of new ore discovery.