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Media

Kalamazoo Resources begins work at the Snake Well Gold Project

Recently listed Kalamazoo Resources (ASX:KZR) has commenced the exploration and development of key prospects at its Snake Well Gold Project in the Murchison region of Western Australia.

The project is located 450 kilometres north of Perth and consists of five granted mining leases.

Following the completion of a heritage survey, Kalamazoo has commenced the planned drilling program at the A-Zone Gold deposit, as part of the development studies.

This A-Zone drilling program will comprise about 2,700 metres of reverse circulation (RC) drilling and 220 metres of diamond drilling.

The RC drilling has the dual objective of infilling coverage within the historically defined gold deposit and confirming previously identified mineralisation widths and grades.

Importantly, the works are being funded by Minjar Gold Pty Ltd under the terms of an ore purchase agreement.

If a decision to mine is made, then Minjar will purchase the ore from Kalamazoo on the terms set out in the agreement.

Kalamazoo will take advantage of cost saving synergies by utilising the same RC drill rig for planned programs at the Mixy and Royal Standard gold deposits with an expected start in the next few weeks.

The company began trading on the ASX in January 2016, after raising $5 million from an initial public offer at $0.20 per share.

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