Kalamazoo Resources (ASX:KZR) has completed its Mt Olympus resource definition drilling program ahead of an updated mineral resource estimate (MRE) and Prefeasibility Study (PFS).
The program, located within the Ashburton Gold Project in Western Australia, covered 72 holes for 13,726m.
Kalamazoo says the latest assay results from 15 drill holes demonstrate geological continuity at the Ashburton Project.
Six intersections exceeded 50 gram-metres, including 20m @ 3.1 grams per tonne gold (Au) from 62m, 9m @ 6g/t Au from 22m, and 22m @ 3.6g/t Au from 61m.
Additional results include 17.6m @ 5g/t Au from 165.8m, 60m @ 1.3g/t Au from 51m, and 14m @ 5.4g/t Au from 150m.
The infill drilling reduced spacing to approximately 20m by 20m across key areas of the deposit, supporting the potential conversion of additional inferred mineral resources to the higher-confidence indicated category.
Executive Director Ben Ackerman says completion of the resource definition program marks another important milestone for the 1.44 million ounce Ashburton Project.
“The latest results received from the resource definition drilling continue to demonstrate the excellent continuity of high-grade mineralisation across Mt Olympus, materially increasing our confidence ahead of the updated MRE,” Ackerman says.
“We are particularly encouraged by the strong grade development being identified at depth within the current PFS pit shell, reinforcing the opportunity to enhance the planned mining inventory.”
The company has now commenced growth drilling beneath Mt Olympus, targeting underground resource extensions. This follows earlier results that confirmed mineralisation continuation at lower levels within the conceptual open pit.
Previous drilling returned 8.8m @ 11g/t Au from 20.5m, 43.8m @ 3.4g/t Au from 93m, and 30.9m @ 1.5g/t Au from 214.5m.
Kalamazoo has also commenced drilling at the nearby Peake deposit, which contains a current mineral resource of 1.9 million tonnes @ 3.4g/t Au for 210,000 ounces.
Chief Executive Andrew McDougall says Ashburton continues to demonstrate the characteristics essential for a ‘high-quality’ Australian gold development project, outlining the company’s near-term priorities.
“Over the next six months, our key priorities are delivering the updated MRE and progressing the PFS, whilst continuing to unlock further value through targeted resource growth drilling across the broader Ashburton Gold Project,” McDougall says.
Kalamazoo has also submitted six tenement applications expected to add 191.8km² to the project, bringing total controlled tenure across the Ashburton region to 519km².
The company says the updated MRE is targeted for Q4 2026, with remaining assay results from the resource definition program expected over the coming weeks.
Located 35km southeast of Paraburdoo within the prospective Nanjilgardy Fault Zone, Ashburton has historically produced 350,000 ounces of gold between 1998 and 2004.
Kalamazoo Resources is a gold and lithium explorer and developer focused on tier one mining jurisdictions in Australia.
Write to Paula Fabe at Mining.com.au
Images: Kalamazoo Resources
