Exploration Licence EL007323, referred to as the Myrtle Gold Project, was granted to Kalamazoo Resources in mid-2021 for an initial period of five years. The Project is located within the highly endowed Bendigo Zone of the Central Victorian Goldfields and covers 44km2 of highly prospective goldfields geology, 30km south of the high-grade Fosterville Gold Mine.
The Myrtle Gold Project is situated within the favourable hanging-wall position of the major regional Axe Creek Fault and is considered highly prospective for high-grade Fosterville-style mineralisation. The Project is strategically located on the southern border of Block 4 of the NCVG, with Agnico Eagle Mines (NYSE: AEM) holding exploration tenure immediately to the west and east. Although located between several major goldfields, the Myrtle Gold Project is considered under-explored as it has not been subjected to any systematic modern exploration and no known historical drilling.
Kalamazoo considers the development of the Myrtle Gold Project is in line with the Company’s strategy of acquiring and exploring high-quality Victorian gold exploration projects with a target threshold of 1Moz at grades >10g/t Au.