Kalamazoo Resources hits significant milestone in Mt Olympus drilling program

• Resource definition program successfully completed
• Almost half of assays results now received
• Latest results continue to demonstrate consistent mineralisation category
• Drilling intersected mineralisation beyond current resource envelope

Kalamazoo Resources (ASX:KZR) has intersected mineralisation beyond the current resource envelope in the successful completion of the Mt Olympus resource definition drilling program at its Ashburton Gold Project in Western Australia.

Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.

The program has returned further outstanding assay results while remaining within the conceptual scoping study pit shell, highlighting opportunities to enhance future mining inventory.

Executive director, Dr Ben Ackerman, said the resource definition drilling program has significantly increased drilling density over the Mt Olympus open pit resource, reducing spacing to approximately 20m by 20m across key areas of the deposit.

“Having now received almost 50% of the drill results, we are pleased to see confirmation of the existing resource extents, and we are highly confident in the continuity of the high-grade mineralisation ahead of the updated MRE,” Dr Ackerman said.

“The drilling continues to demonstrate excellent continuity of broad high-grade mineralisation within the planned open pit, providing increasing confidence in both the updated MRE and the PFS mine inventory.

“With all the Mt Olympus infill resource drilling completed and almost half the results returned, we are in a strong position ahead of the coming MRE update. The drill results today are consistent with what we have been seeing in the field. The results to date are highly encouraging with 16 intercepts of +50gm within the 34 holes so far.

“These results continue to reinforce our confidence in Mt Olympus as the foundation of what we believe can become one of Western Australia’s next significant gold developments.

Increasing confidence in the Mineral Resource is expected to improve our mine planning flexibility, Ore Reserve conversion and ultimately enhance the economics underpinning the PFS.”

Dr Ackerman said the program is expected to materially improve Kalamazoo’s confidence in the geological model and support the conversion of additional Inferred Mineral Resources to the higher Indicated category in the updated MRE, targeted for release in Q4 2026.

He told shareholders the cumulative results from the current Mt Olympus drilling program continue to demonstrate the strength and consistency of the mineralised system. Across the first 34 drill holes the program has returned 16 significant gold intercepts exceeding 50 gram-metres, highlighting the continuity of broad, high-grade mineralisation and providing increasing confidence in the resource definition program.

Kalamazoo has now commenced an underground resource growth drilling program at Mt Olympus, targeting extensions beneath and down-plunge of the current scoping study pit.

KZR was up 5.56% to 14.3¢. Mkt cap $42.40M.

Join the discussion: See what HotCopper users are saying about Kalamazoo Resources and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.