Kalamazoo Resources has strengthened confidence in its Ashburton Gold Project in Western Australia after completing a major resource definition drilling program at Mt Olympus, with new high-grade results expected to support an updated mineral resource estimate (MRE) and pre-feasibility study (PFS).
The company said assay results from the latest 15 drill holes continued to demonstrate strong continuity of mineralisation, reinforcing confidence in the geological model ahead of the updated MRE targeted for the fourth quarter of 2026.
Among the standout intersections were 20 metres at 3.1 grams per tonne (g/t) gold from 62 metres, 22 metres at 3.6g/t gold from 61 metres, 17.6 metres at 5.0g/t gold from 165.8 metres and 14 metres at 5.4g/t gold from 150 metres.
The completed resource definition program comprised 72 holes for 13,726 metres, reducing drill spacing across the Mt Olympus deposit to approximately 20 metres by 20 metres. The tighter spacing is expected to support the conversion of additional inferred resources into the higher-confidence indicated category.
Kalamazoo executive director Dr Ben Ackerman said the program represented an important milestone for the company’s 100 per cent-owned Ashburton Gold Project.
“Completion of the Mt Olympus Resource Definition Drilling Program marks another important milestone for the Ashburton Gold Project,” Ackerman said.
“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 said the company was also encouraged by the development of higher-grade mineralisation at depth within the current PFS pit shell.
“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,” he said.
Beyond resource confidence, Kalamazoo has shifted its focus to growing the project’s resource base. Underground resource growth drilling has commenced beneath Mt Olympus, targeting extensions below and down-plunge of the current conceptual pit, while drilling has also started at the nearby Peake deposit.
The Peake deposit currently hosts a mineral resource of 1.9 million tonnes at 3.4g/t gold for 210,000 ounces and will be tested for down-plunge extensions of previously mined high-grade shoots.
Kalamazoo said drilling has also intersected mineralisation beyond the current resource envelope while remaining within the conceptual scoping study pit shell, highlighting opportunities to expand the future mining inventory.
The company’s Ashburton Gold Project currently hosts a 1.44 million-ounce gold resource, with further assay results from the completed drilling program expected over coming weeks. Those results will feed into the updated MRE while growth drilling continues across the project.
Chief executive officer Andrew McDougall said the company’s priorities over the next six months were delivering the updated MRE and advancing the PFS while continuing to grow the resource base.
“Ashburton continues to demonstrate the characteristics we believe are essential for a high-quality Australian gold development project: scale, grade, growth potential, and attractive project economics,” McDougall said.
Kalamazoo has also applied for additional exploration tenements that would expand its Ashburton landholding to 519 square kilometres, strengthening the project’s long-term district-scale growth potential.
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