Kalamazoo Resources has expanded its Victorian portfolio with an exploration licence EL007323, referred to as the Myrtle gold project, for an initial five years period.
The gold project lies within the major regional Axe Creek Fault and is considered highly prospective for high-grade Fosterville-style mineralisation.
However, it is considered under-explored as it has not been subjected to any systematic modern exploration and no known historical drilling, said the company.
Kalamazoo chairman and CEO Luke Reinehr said: “The Myrtle Gold Project is a great addition to our Victorian portfolio, given its proximity to our nearby Castlemaine and South Muckleford Gold Projects.
“With the Myrtle Gold Project located just 30km from the world-class Fosterville gold mine, it will play an important role in our strategy to consolidate exploration tenure near Fosterville and the highly prospective Central Victorian Goldfields.”
Spanning over an area of 44km², the Myrtle gold project is located 30km south of the high-grade Fosterville Gold Mine, and 15km northeast of Kalamazoo’s Castlemaine gold project.
It is located within the highly endowed Bendigo Zone of the Central Victorian Goldfields and adjacent to the North Central Victorian Goldfields (NCVG) tender area.
With the addition of the Myrtle gold project, the Kalamazoo expands its current Victorian exploration tenure in the prolific Bendigo Zone to nearly 515km².
The company said that the project development is in line with its strategy of acquiring and exploring high-quality Victorian gold exploration projects.
Kalamazoo is planning to commence a community engagement process immediately, before an initial low impact exploration programme.
