Victorian Earth Resources Regulation has granted Kalamazoo Resources the Wattle Gully South Exploration Licence, covering the remaining southern portion of the Castlemaine Goldfield.

The company will identify and potentially map gold mineralised reefs for further evaluation and drill testing.

Kalamazoo Resources Chairman Luke Reinehr said Wattle Gully South had been identified as a key component of Kalamazoo’s exploration strategy as it contains the same prospective host rock sequence, fold-fault structures and major regional faults as that of the adjacent highly endowed Castlemaine Goldfield to its north.

“In our view it is essentially an under-explored extension of the adjacent high-grade Castlemaine Goldfield,” he said.

The Castlemaine Goldfield produced 5.6 million ounces of gold across its life and is one of the richest gold fields in Australia, with only minor exploration activity having been undertaken over the past decade and with limited effective drilling.

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