Chairman and CEO Luke Reinehr was giving investor channel Small Caps a comprehensive update of what has been achieved by Kalamazoo Resources lately and about the ambitious steps on its various promising projects. Q4 2020 will become very intense for this explorer.
Drill programs will start at the two projects in the Pilbara. Northern Star, previous owner of the Ashburton project, used to produce gold there and had determined a gold resource of still 1.65 mio. ounces at 2.5 g/t, very good gold grades for the Pilbara region. This resource should be increased soon up to 2-3 mio ounces. Infrastructure for resuming gold production at Ashburton is there but considering cooperation with its neighbours De Grey Mining, Novo Resources and Calidius Resources might also become options.
Castlemaine and South Muckleford will also experience further drilling in Q4 2020, trying to detect a large high grade gold deposit similar to the Fosterville gold mine, 40 km to the north. This operation from Kirkland Lake Gold is considered the world's most profitable gold mine at the moment. In fact, Kalamazoo Resources applied for tender offers in order to acquire two additional gold prospects, that adjoin the Fosterville deposit. Decisions are deferred to early next year due to the COVID-19 crisis.
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