Kalamazoo Confirms High-Grade Gold Continuity at Mt Olympus Ahead of Resource Update

Resource Definition Drilling Validates Geological Continuity

Kalamazoo Resources (ASX:KZR) has wrapped up a 72-hole, 13,726-metre resource definition drilling program at its Mt Olympus deposit within the Ashburton Gold Project in Western Australia. The latest assay results from 15 drill holes reinforce the continuity of high-grade gold mineralisation, with six intersections exceeding 50 gram-metres. Notable hits include 20 metres at 3.1 g/t Au from 62 metres and 9 metres at 6.0 g/t Au from 22 metres, underscoring the deposit’s robust grade profile.

This intensified drilling effort has tightened the drill spacing to approximately 20 metres by 20 metres, a density that supports converting additional Inferred Mineral Resources into the higher-confidence Indicated category. This upgrade is critical as the company prepares for an updated Mineral Resource Estimate (MRE) targeted for release in the fourth quarter of 2026, which will feed into the ongoing Pre-Feasibility Study (PFS).

Growth Drilling Targets Underground Extensions and Peake Deposit

Beyond resource definition, Kalamazoo has initiated growth drilling beneath Mt Olympus, aiming to extend the underground resource beyond the current conceptual pit shell. Early results from previous holes, including 8.8 metres at 11 g/t Au and 43.8 metres at 3.4 g/t Au, support this underground potential. Concurrently, drilling has started at the nearby Peake Deposit, which holds a current resource of 210,000 ounces at 3.4 g/t Au. This program targets down-plunge continuations of high-grade shoots mined historically, potentially extending the mine life and production profile of Ashburton.

The company’s Executive Director Dr Ben Ackerman emphasised that the completed drilling marks a milestone in enhancing confidence in the Mt Olympus resource model. He highlighted the encouraging grade development at depth within the existing PFS pit shell, which could materially enhance the planned mining inventory. Meanwhile, CEO Andrew McDougall reiterated the project’s key attributes, scale, grade, growth potential, and economics, and flagged the next six months as pivotal for delivering the updated MRE and advancing the PFS.

Ashburton Gold Project Expands to 519 Square Kilometres

Kalamazoo has also lodged multiple tenement applications that, if granted, will expand its Ashburton landholding to 519 square kilometres, reinforcing the project's district-scale growth potential. This expanded tenure covers prospective structures along strike from existing deposits, offering avenues for future discoveries and resource growth.

The Ashburton Gold Project currently boasts a total Mineral Resource of approximately 1.44 million ounces of gold, with Mt Olympus representing the largest component. The updated MRE and ongoing drilling results will be instrumental in refining mine plans and economic assessments as the project transitions from exploration to development.

Technical Rigor and Quality Assurance Underpin Results

The drilling program employed industry-standard Reverse Circulation and diamond drilling techniques, with comprehensive quality control measures including certified reference materials, blanks, and duplicates. Sample recoveries were high, and assay data quality was verified through stringent laboratory protocols. The geological model benefits from detailed logging and spatial data accuracy, enhancing confidence in resource continuity and grade distribution.

Remaining assay results from the resource definition drilling are expected in the coming weeks and will be incorporated into the updated MRE. Meanwhile, growth drilling at Mt Olympus and Peake continues, with further results anticipated to inform the PFS and future resource updates.