Kalamazoo Resources is assessing the potential of several gold targets at its Mallina West project in Western Australia’s Pilbara region that it believes are similar to those that led to De Grey’s Mining’s renowned Hemi discovery.
The company says the targets lie along the same major shear zone as the 10 million gold-ounce Hemi find and have been outlined by a combination of recent magnetic and gravity surveys. The results from two recent gravity surveys at Mallina were coupled with 3D magnetic modelling from earlier this year to generate several intrusion-related, or “Hemi style”, gold targets.
One such target pairs with an end-of-hole high-grade intercept of 10.35 grams per tonne gold over 1m at Kalamazoo’s Wattle Plains prospect. As the gold intercept occurred at the bottom of the hole in a scouting drill program, it is considered open in all directions.
The intercept from November 2022 coincided with a prominent magnetic anomaly at Wattle Plains. Hence, earlier this year, the company commissioned Western Geoscience to complete a 3D magnetic model of the area.
The 3D magnetics then indicated a close spatial association between the gold mineralisation and an interpreted magnetic intrusion. Following that interpretation, management selected two high-priority prospects – Wattle Plains and Satirist – for additional detailed gravity surveying.
The company interprets the coincident aeromagnetic and gravity anomalies as intrusion-related targets that are expected to be the focus of its ongoing exploration activities and follow-up drill programs.
Kalamazoo’s recent gravity surveys, combined with existing aeromagnetic and surface geochemistry data, have delivered several high-priority Hemi-style drill targets. Kalamazoo is extremely encouraged by these results and is planning ongoing exploration activities on these targets.
While still at an early stage, the company believes its methodology of utilising structural and surface geochemistry targeting, combined with aeromagnetic and gravity data modelling, is proving effective in identifying intrusion-related gold targets. The Pilbara craton remains a vast and largely untested gold region and the prospect of another Hemi gold discovery in such a big and underexplored Archaean craton is far from out of the question.
The 118-square-kilometre Mallina West gold project is just one of Kalamazoo’s Pilbara region gold projects. The company also recently received $3 million as an option fee from De Grey over its Ashburton gold project to the south. The option has the potential to unlock a further $30 million for the company should De Grey decide to acquire the project at the end of the one-year option period ending in February next year.
The initial $3 million payment is expected to be used on drilling at the Malina West gold project following further surface fieldworks, target generation and advanced important native title and cultural heritage agreements.
As gold prices continue to sit at all-time highs and while the development of De Grey’s Hemi discovery accelerates following $1.13 billion in announced debt funding last month, gold hopefuls such as Kalamazoo are lining up to be the next big success in the Pilbara’s emerging gold story.
Is your ASX-listed company doing something interesting? Contact: [email protected]
Source Agencies
