Kalamazoo Resources Limited

A progressive Australian gold and base metals explorer and developer

ASX-listed Kalamazoo Resources (ASX: KZR) is a gold and base metals explorer whose primary focus is on identifying commercial mineral deposits to explore at its Victorian Gold Projects, located at Castlemaine, South Muckleford and Tarnagulla and its two gold-base metals projects in Western Australia.

Located within the Bendigo Zone, Kalamazoo owns 100% of the Castlemaine Goldfield (5.6Moz historical production), the southern extensions to the Maldon/South Muckleford Goldfield (2.1Moz historical production) and a central tenement position in the Tarnagulla Goldfield (0.7Moz historical production)1. Kalamazoo is utilising ground geophysics, 3D structural modelling and multi-element surface geochemistry to assist in identifying and vectoring towards gold mineralisation targets in upcoming drilling campaigns across its 445km2 project area.

The Bendigo Zone in Victoria has historically produced more than 60M oz of gold1, a goldfield geology that is 100 times richer than the global average2. The recent outstanding exploration and mining success of Kirkland Lake Gold Limited (ASX: KLA, NYSE/TSX: KL) at the nearby Fosterville Mine has focused significant renewed attention on the wider Victorian Goldfields.

On the 14th November 2018, Kalamazoo announced the sale of the Snake Well Gold Project to Adaman Resources Pty Ltd (ASX: KZR 14 November 2018 and 27 December 2018) for $7.0 million. The sale proceeds will be payable over 24 months and will fund Kalamazoo’s exploration and drilling program at the Castlemaine Gold Project and the Pilbara Gold Projects.

Another key component of the sale was the retention of a 2.5% Net Smelter Royalty on any base metals mined within the Snake Well project area.

1. Willman et al 2002, Geology Survey Victoria, Report 121)
2. Source: Ross Cayley, “Gold in Victoria – The Current State of Play”

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