Kalamazoo chasing further gold exploration success
Gold-copper exploration group, Kalamazoo Resources (ASX:KZR) has commenced a first pass reverse circulation drilling program on the Royal Standard project, part of its flagship Snake Well project located about 450 kilometres north of Perth in the Mid-West region of Western Australia.
Management noted that the drilling is part of an overall works program that was outlined in Kalamazoo’s Prospectus prior to listing on the ASX in January.
While KZR is only at an early stage of exploration there have already been positive signs with the company’s shares surging circa 20% after it announced significant gold intercepts and multiple mineralised zones at its A Zone gold project, part of the Snake Well project.
As mentioned this is an early stage company and investors should seek professional financial advice if considering this stock for their portfolio.
Management will be hoping that further good news emerges from the Royal Standard drilling program which will cover an area of 1000 metres, testing for the presence of near surface gold mineralisation between the surface and the bottom-line level, about 75 metres from surface.
The following diagram illustrates the drilling strategy to be undertaken at Royal Standard.
At the Royal Standard mine, a north dipping quartz vein up to 3 metres in thickness is traceable at surface for more than 800 metres. Historically, this has been mined from surface to a depth of 75 metres over a strike of several hundred metres, producing an impressive 68,000 tonnes grading 13.1 grams per tonne gold.
The current drill program will test for a continuation of the Royal Standard lode structure beneath the sill down plunge and for extensions along strike. Providing confidence in terms of future drilling is the fact that a series of underground development heading assays averaging between 11 grams per tonne and 18.3 grams per tonne gold were identified at a level of 75 metres.
KZR is also drilling at the neighbouring Mixy project, and a quartz zone associated with the mineralisation was intersected in all holes to date. Results of assays from this program are expected to be received over the next few weeks, potentially adding to recent positive news flow.