Kalamazoo Resources has launched the Pre-Feasibility Study for its Mt Olympus gold project amid a fresh drilling campaign, while CEO Luke Mortimer announces his departure to take a senior overseas role.
- Mt Olympus Pre-Feasibility Study officially underway
- Diamond drilling program restarted with initial holes completed
- Drilling targets extensions beneath current open pit design
- CEO Luke Mortimer to step down end of January 2026
- Board initiates search for new CEO amid growth phase
Mt Olympus PFS Launches Amid High Gold Prices
Kalamazoo Resources Limited has formally commenced the Pre-Feasibility Study (PFS) for its Mt Olympus deposit, part of the Ashburton Gold Project in Western Australia's Pilbara region. The PFS kickoff meeting, held in Perth on 14 January 2026, brought together all key consultants, signalling the start of a critical phase as Kalamazoo transitions from explorer to developer in a buoyant gold market.
The study aims to refine the project’s development plans, leveraging recent drilling data and geological insights. This comes at a time when gold prices remain elevated, offering a favourable backdrop for advancing the project’s economics and mine design.
Drilling Program Targets Resource Extensions
Complementing the PFS, Kalamazoo has recommenced a ~2,600-metre diamond drilling program focused on testing and infilling down-plunge extensions of the Indicated and Inferred Resources beneath the existing Mt Olympus open pit shell. Early January saw completion of three drill holes totalling approximately 990 metres, with results pending. These assays will be pivotal in updating resource models and supporting optimisation studies.
This drilling campaign represents the first of several planned for 2026 across the Ashburton Gold Project, which boasts a total resource estimate of 1.44 million ounces of gold. The program’s success could enhance the project’s scale and mine life, potentially improving its attractiveness to investors and partners.
Leadership Change as CEO Mortimer Steps Down
In a significant corporate update, Kalamazoo announced that CEO Dr Luke Mortimer will resign at the end of January 2026 to accept a senior position overseas with a major resource company. Mortimer has been with Kalamazoo for over seven years, initially as Exploration Manager before leading as CEO during a transformative period for the company.
Executive Chairman Luke Reinehr expressed gratitude for Mortimer’s contributions, highlighting his role in advancing Kalamazoo’s Australian assets and steering the company’s evolution towards development. The board has already commenced the search for a new CEO to guide Kalamazoo through its next growth chapter.
Looking Ahead
As Kalamazoo pushes forward with the Mt Olympus PFS and drilling programs, the coming months will be critical in defining the project’s viability and strategic direction. The leadership transition adds an element of uncertainty but also opportunity, as the company positions itself to capitalise on its resource base amid a strong gold market.
Bottom Line?
Kalamazoo’s Mt Olympus project enters a pivotal development phase just as leadership changes set the stage for its next growth chapter.
Questions in the middle?
- What will the initial drilling results reveal about resource extensions beneath Mt Olympus?
- How will the CEO transition impact Kalamazoo’s strategic priorities and project timelines?
- What are the key milestones and risks to watch during the Mt Olympus Pre-Feasibility Study?