Kalamazoo drilling results suggest extension of gold mineralisation
Gold-copper exploration company, Kalamazoo Resources (ASX: KZR) has released results from the first eight holes of a planned 15 hole 2000 metre drilling program at its Snake Well gold project located 450 kilometres north of Perth in the mid-west region of Western Australia.
As a backdrop, this current drilling is part of an overall works program aimed at testing extensions of the near surface and deeper gold mineralised zones at Mixy, the site of the successful Mixy trial pit completed in early 2016 which produced 4459 ounces of gold.
It should be noted here that KZR is in the early stages of its exploration and investors should seek professional financial advice if considering this stock for their portfolio.
The first eight reverse circulation drill holes were designed to test for extensions of the Mixy quartz vein lode/s over 250 metres to the east of the Mixy trial open pit, and at relatively shallow depths down to 6030 metres, from surface to oxidised material.
Importantly, the results indicate that the main Mixy lode extends for a possible 150 metres east of the existing trial pit and is open at depth.
KZR has been using historical drilling data as a guide, and it now appears that in some cases earlier exploration initiatives may have missed a Mixy style quartz lode.
Results received to date featured robust grades at relatively shallow depths. These included 6 metres grading 6.38 grams per tonne gold and 10 metres grading 3.73 grams per tonne gold, including 1 metre grading 19.6 grams per tonne gold.
Results are pending for four holes already drilled, while three deep holes are still to be completed.
New Ore Purchase Agreement for treatment of Mixy and A-Zone ore via Minjar gold plant
KZR also announced today that it has reached an agreement with Minjar Gold that provides the group with a first right to treat any further ore from the Mixy Lode and/or the A-Zone deposit at Minjar’s plant located 200 kilometres from the Mixy deposit, replacing the previous sales and purchase agreement dated January 31, 2017.
Other near-term initiatives include the commencement of studies to assess the base metal potential contained within the Snake Well gold project area, notably at Conquistador (zinc) and deeper (fresh) portions of the A-Zone (copper and zinc).
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