- Kalamazoo has received an independent, detailed project-wide structural geology interpretation and analysis which has highlighted 12 significant high-priority brownfields and greenfields exploration targets
- An Induced Polarisation (IP) geophysical survey has now commenced targeting the first of these high-priority exploration targets located between known gold mineralisation at the end of the Mt Olympus Pit (which produced 242,000oz Au in the period 1998-2004) and the nearby high-grade West Olympus Pit
- This target is inferred to be a structural (fault) linkage or “stepover” connecting these two mineralised areas with high exploration potential adjacent to the existing Mt Olympus Mineral Resource of 1.08Moz
- The Mt Olympus Resource forms the largest component of the overall 1.65Moz Mineral Resource at the Ashburton Gold Project
- The IP survey is expected to take approximately 3 weeks to complete with results expected in late July 2022 and targets identified to then be drill tested
- Planning is underway for an extensive Phase III exploration drilling program to commence Q3/Q4 2022
- Project Development Scoping Study now underway with CSA Global retained to complete
Kalamazoo’s Director and Ashburton Project Manager Paul Adams said today, “Our recent positive metallurgical work on composites from the Mt Olympus sulphide deposit has demonstrated that a simple, easily operable, well understood flow sheet is the preferred option for the future development of the sulphide resources at our Ashburton Gold Project. With this in mind, we are excited by the very encouraging results of the project-wide detailed structural interpretation and analysis undertaken by Dr Brett Davis.
The identification by Dr Davis of numerous significant high-priority near mine and regional sulphide and oxide exploration targets is very positive for our strategy to increase the Ashburton Gold Project resource towards 2Moz of gold. The current IP survey is another step in that process”.
Kalamazoo has appointed the major consulting firm CSA Global to complete a Project Development Scoping Study to inform plans for the development of the open pit and underground deposits at Mt Olympus and Peake as well as assisting strategic decision making for the Ashburton Gold Project.
The study is expected to be completed in Q3, 2022.
SOURCE: Kalamazoo Resources Limited
DATE: June 29, 2022