ASX-listed Kalamazoo Resources (ASX: KZR) is a gold, lithium and base metals exploration company with major assets in Tier 1 mining jurisdictions – the Victorian Goldfields, the Pilbara region in Western Australia and the Lachlan Fold Belt in New South Wales.
In May 2023, Kalamazoo announced plans to spin out its Australian lithium projects into a new ASX-listed exploration company, via a demerger and concurrent IPO of Kali Metals Limited (proposed ASX Code: KM1). Kalamazoo has also agreed with Karora Resources Inc, whereby at IPO, Karora will vend into Kali its highly prospective lithium mineral rights across an extensive range of projects located south of Kalgoorlie, WA.
In November 2023, the Kali Metals prospectus was lodged, the IPO was opened and quickly closed, with strong demand and heavily oversubscribed. Kali Metals is expected to list on the ASX in early Q1 2024.
Information regarding the Kali Metals IPO including the prospectus can be found at www.kalimetals.com.au.
Kalamazoo has a multi-pronged strategy focused on discovering the next world-class gold deposit in the Victorian Goldfields, whilst increasing the 1.44Moz gold resource at the Ashburton Gold Project in the Pilbara and building on its other highly prospective and well-located Pilbara gold and lithium assets.
The acquisition of the Ashburton Gold Project from Northern Star Resources Limited (ASX: NST) in 2020 was an important addition to Kalamazoo’s Pilbara gold portfolio. Covering 217km2, the Project is located on the southern edge of the Pilbara Craton in Western Australia, with historical gold production of 350,000oz Au (1998-2004). The Ashburton Gold Project currently contains a Mineral Resource estimate (JORC Code 2012) of 16.2Mt @ 2.8g/t Au for 1.44Moz.
Kalamazoo’s gold portfolio in the Pilbara also includes the Mallina West Gold Project (240km2), which is prospective for both epigenetic gold mineralisation associated with the Wohler Shear Zone, and potential mineralised intrusions similar to those identified at De Grey’s Hemi discovery 50km to the north east. Rounding out the Pilbara portfolio is the DOM’s Hill, Marble Bar and Pear Creek lithium projects which have emerged as exciting prospects for the Company in a surging global market for the metal.
In Victoria, Kalamazoo owns 100% of the Castlemaine Goldfield, the southern extensions to the Maldon/South Muckleford Goldfield, a central tenement position in the Tarnagulla Goldfield and the most recent acquisition, the 1,609km2 Mt Piper Gold Project. 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 2,006km2 project area.
The Bendigo Zone in Victoria has historically produced more than 60Moz of gold, a goldfield geology that is 100 times richer than the global average. The outstanding exploration and mining success at the nearby Fosterville Gold Mine in recent years has renewed interest in the wider Victorian Goldfields.
Kalamazoo’s growing focus on lithium has diversified the Company into New South Wales. In May 2022, the Company was granted Exploration Licence EL9403 for an initial period of 6 years. The 990km2 licence is known as the Jingellic Lithium Project.