Kalamazoo Resources returned 16 high-grade gold intercepts exceeding 50 gram-metres from 34 holes at Mt Olympus, with mineralisation extending beyond the current resource envelope ahead of a Q4 2026 resource update.
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Kalamazoo Resources (ASX:KZR) has completed its resource definition drilling at the Mt Olympus deposit within the Ashburton Gold Project in Western Australia, returning mineralisation beyond the current resource envelope. The program, which remains within the conceptual scoping study pit shell, returned 16 intercepts of more than 50 gram-metres from the first 34 holes.
Executive director Dr Ben Ackerman said the drilling has increased density to roughly 20m by 20m across key areas of the open pit resource. "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," he said.
The results support conversion of Inferred Mineral Resources to the higher Indicated category in the updated resource estimate, targeted for release in Q4 2026. Ackerman said the program is expected to improve mine planning flexibility, Ore Reserve conversion and the economics underpinning the pre-feasibility study.
Kalamazoo has now started an underground resource growth drilling program at Mt Olympus, targeting extensions beneath and down-plunge of the current scoping study pit. KZR shares rose 5.56% to 14.3¢ on the news, giving the company a market capitalisation of A$42.4 million.
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