Kalamazoo Resources has delivered standout high-grade gold intersections at its Mt Olympus deposit, underpinning an updated resource estimate and advancing its Ashburton Gold Project development plans.
- 36m at 16g/t gold including 10m at 49g/t in KARCD0146
- 74m at 4.1g/t gold including 17m at 8.3g/t in KARC0145
- 15 intersections exceed 50 gram-metres, five over 100 gram-metres
- Resource drilling completed, updated Mineral Resource Estimate due Q4 2026
- Underground Growth drilling underway beneath Mt Olympus and Peake
Standout High-Grade Gold Intersections Redefine Mt Olympus Potential
Kalamazoo Resources (ASX:KZR) has unveiled a series of exceptional gold drill results from its Mt Olympus deposit within the Ashburton Gold Project in Western Australia. Highlight assays include a striking 36 metres at 16 grams per tonne (g/t) gold, featuring an intense 10 metres at 49g/t from drill hole KARCD0146, alongside a broad 74 metres at 4.1g/t gold in KARC0145. These represent some of the strongest intersections recorded at Mt Olympus, signalling robust, high-grade mineralisation hosted within the lower siltstone unit.
The 20 holes reported in this update delivered 15 intersections exceeding 50 gram-metres (grade multiplied by interval length), with five surpassing 100 gram-metres. Notably, KARCD0146 and KARC0145 returned the highest gram-metre values of 590 and 300 respectively, underscoring the deposit’s substantial grade continuity and scale.
Resource Definition Drilling Completed, Confidence Grows
The recently completed Resource Definition Drilling Program comprised 72 holes totalling 13,726 metres, with assays now received from 43 holes. This program has tightened drill spacing to approximately 20 by 20 metres across key portions of the open pit resource, significantly enhancing geological confidence. The results confirm mineralisation continuity both within and beyond the existing Mineral Resource model, including extensions located outside the current resource envelope but still within the conceptual Scoping Study pit shell.
Kalamazoo’s Executive Director Dr Ben Ackerman emphasised the importance of these findings, noting they support the geological interpretation of structurally controlled high-grade zones and highlight the potential to grow the resource base. The updated Mineral Resource Estimate (MRE) is targeted for release in Q4 2026, feeding directly into the Ashburton Pre-Feasibility Study (PFS) scheduled for Q1 2027.
Identification of High-Grade Feeder Structures
Drilling has also delineated multiple high-grade quartz-sulphide vein feeder structures sub-parallel to the main Zoe Fault, a key fluid conduit at Mt Olympus. These feeder zones, spaced roughly 80 metres apart, returned impressive intercepts such as 74 metres at 4.1g/t gold (including 17 metres at 8.3g/t) in KARC0145 and 36 metres at 16g/t gold (including 10 metres at 49g/t) in KARCD0146. The latter hole also contained visible gold, with a peak assay of 241g/t over 1 metre, although visible gold presence is not necessarily indicative of overall grade.
The identification of these vertically extensive feeder zones, which remain open at depth, offers significant upside for increasing both open pit and potential underground resources. They currently lie partially outside the Indicated and Inferred resource categories, hinting at further growth opportunities.
Growth Drilling and Project Development Progress
With Resource Definition drilling wrapped, Kalamazoo has commenced Underground Growth Drilling beneath Mt Olympus, targeting extensions beyond the current Scoping Study pit shell. Parallel drilling at the nearby high-grade Peake deposit is also underway, aiming to expand the overall mining inventory.
Chief Executive Officer Andrew McDougall highlighted that Mt Olympus remains the foundational asset for a potentially long-life Ashburton operation. The company’s focus is on translating drilling success into an updated Mineral Resource, Ore Reserve, and development plan, while systematically testing the broader Ashburton region’s growth potential.
The Ashburton Gold Project itself covers a substantial 519 square kilometres of 100% Kalamazoo-controlled tenure in the Pilbara, incorporating historical mines and several satellite deposits. It boasts a combined Mineral Resource estimate of approximately 1.44 million ounces of gold across multiple deposits, with Mt Olympus contributing the bulk.
Upcoming Catalysts and Market Implications
The market can expect a steady stream of updates as remaining assay results from the drilling program are released over the coming weeks. The forthcoming updated Mineral Resource Estimate in Q4 2026 and the PFS in early 2027 will be critical milestones, likely to shape investor perceptions of Ashburton’s economic viability and growth trajectory.
Meanwhile, the ongoing underground drilling campaigns will test the limits of known mineralisation, potentially extending mine life and enhancing project value. Kalamazoo’s recent oversubscribed $8 million placement, secured in July, provides the financial firepower to sustain this aggressive exploration and development push.
Bottom Line?
Kalamazoo’s Mt Olympus drilling results reinforce Ashburton’s high-grade credentials, setting the stage for a resource upgrade and advancing development plans amid ongoing growth drilling.
Questions in the middle?
- How will the pending assay results influence the final Mineral Resource Estimate?
- What impact will the identified feeder structures have on underground mining potential?
- Can continued growth drilling at Peake and Mt Olympus materially extend Ashburton’s mine life?