Kalamazoo Resources (ASX:KZR) has received its final assays from a resource definition drilling campaign at the Mt Olympus deposit within the Ashburton Project, including a standout result of 50m @ 4.9 grams per tonne gold (Au).
At the project in Western Australia, drilling returned 38 intercepts exceeding 50 gram-metres including 16 exceeding 100 gram-metres, with results to form an updated mineral resource estimate (MRE).
Kalamazoo says the results demonstrate the “scale and continuity of broad, high-grade mineralisation at Mt Olympus”, with around 61% of significant assay intercepts reported since the 2022 MRE returning grades at or above the current Mt Olympus average of 2.7g/t Au.
Other key intercepts returned from the 13,726m program across 72 holes include 59m @ 3.2g/t Au from 206m, including 33m @ 4.3g/t Au from 207m and 11m @ 5.6g/t Au from 228m; 53m @ 2.4g/t Au from 198m, including 39.8m @ 3g/t Au from 199.2m; and 14m @ 5.4g/t Au from 150m.
At hole KARCD0166, new deep mineralisation extends around 80m below the Scoping Study pit shell and 90m beyond the Zoe Fault, remaining open at depth and down-plunge to the southeast.
Executive Director Ben Ackerman says the final assays mark the completion of an “outstanding” resource definition program at Mt Olympus.
“The completed program and substantially expanded technical dataset provide a strong foundation for the updated MRE targeted for Q4 2026,” Ackerman says.
“With approximately 25,000m of additional drilling now incorporated into the geological model, together with an expanded sulphur database of more than 28,000 assays, Kalamazoo has significantly advanced its understanding of the Mt Olympus deposit.
“This work builds on an extensive history of drilling and reflects the strength of the technical progress made by our team.”
CEO Andrew McDougall says the company views Mt Olympus as the “cornerstone asset” for the greater Ashburton Gold Project.
“This program has increased our confidence in the deposit, highlighted further growth potential, and materially advanced the project towards development,” McDougall says.
“Our immediate priorities are delivery of the updated MRE and Ashburton PFS [Prefeasibility Study], while continuing targeted growth drilling beneath Mt Olympus and at the high-grade Peake deposit.”
This drilling campaign reduced spacing to around 20m by 20m in key areas, which Kalamazoo says supports a potential conversion from inferred resources to indicated, along with a future ore reserve estimation.
Kalamazoo Resources is an Australian explorer and developer whose flagship Ashburton Project hosts a 1.44-million-ounce resource across the Mt Olympus, Peake, Waugh, and Zeus deposits.
Write to Maddison Elliott at Mining.com.au
Main Image: Kalamazoo Resources
