Kalamazoo Completes Mt Olympus Drilling with High-Grade Gold Continuity Boost

Completion of Extensive Mt Olympus Drilling Program

Kalamazoo Resources Limited (ASX:KZR) has successfully completed a substantial resource definition drilling campaign at its Mt Olympus deposit, part of the 1.44 million ounce Ashburton Gold Project in Western Australia. The program delivered 72 drill holes totalling 13,726 metres, with nearly half of the assay results received so far confirming consistent, broad high-grade gold mineralisation.

The infill drilling has reduced spacing to approximately 20m by 20m, a density that supports upgrading significant portions of the Inferred Mineral Resource to the higher-confidence Indicated category. This tighter drill pattern aims to underpin a Mineral Resource Estimate (MRE) update slated for the fourth quarter of 2026, feeding into a Pre-Feasibility Study (PFS) scheduled for early 2027.

High-Grade Intercepts Reinforce Resource Continuity

Among the standout results received are 16 intercepts exceeding 50 gram-metres (grade multiplied by downhole metres), illustrating the deposit’s robust mineralisation continuity. Notable intercepts include 31 metres at 5.2 g/t gold from 49 metres depth (including 15 metres at 7.5 g/t) and 21 metres at 6.5 g/t (with 15 metres at 9.0 g/t) from earlier holes. These results reinforce confidence in the geological model and support the potential to expand the mineable inventory.

Importantly, drilling has intersected mineralisation beyond the current resource envelope but still within the conceptual scoping study pit shell, suggesting upside potential to the planned open pit mining inventory. Ongoing underground growth drilling beneath Mt Olympus and at the nearby high-grade Peake Deposit aims to further extend resources down plunge and laterally.

Advancing Ashburton Gold Project Towards Development

Kalamazoo’s executive leadership emphasises the drilling program’s role in de-risking the project’s resource base. Executive Director Dr Ben Ackerman noted the confirmation of high-grade continuity within the planned open pit, which bolsters confidence in both the updated MRE and PFS mine plan. CEO Andrew McDougall highlighted the encouraging nature of the results, with multiple intercepts exceeding 50 gram-metres, positioning Mt Olympus as a cornerstone for what the company believes could become a significant Western Australian gold development.

The Ashburton Gold Project’s tenure has been expanded through recent tenement applications, increasing Kalamazoo’s control to 519 square kilometres across the prospective Pilbara region. This expanded footprint enhances exploration potential along major structural corridors, including the Nanjilgardy Fault Zone.

Next Steps and Upcoming Catalysts

With resource definition drilling complete and underground growth drilling underway, Kalamazoo is entering a phase rich with catalysts. The updated MRE targeted for Q4 2026 will be pivotal in refining the mine plan and Ore Reserve estimates, directly influencing the PFS economics. The company expects a steady news flow as remaining assay results are processed and released in the coming weeks.

Given the pending assay results for roughly half of the program, the final resource update could see further adjustments to grade and tonnage. Investors should watch for these results and the PFS progress as key indicators of the project’s development trajectory.

While the drilling results reinforce optimism, the ultimate economic viability will hinge on the forthcoming technical studies and resource conversions. The Ashburton Gold Project remains a developing story with significant exploration and development milestones ahead.