Kalamazoo Resources Ltd (ASX:KZR) has formally started a pre-feasibility study (PFS) at its Mt Olympus deposit within the 1.44-million-ounce Ashburton Gold Project, following a kick-off meeting with key technical consultants in Perth, as it continues to advance the Pilbara asset towards potential development.
At the same time, Kalamazoo has restarted diamond drilling at Mt Olympus after a brief Christmas–New Year pause, with early results expected to feed directly into mine planning and optimisation work for the study.
Drilling targets depth extensions beneath pit shell
The current diamond drilling campaign is focused on testing and infilling down-plunge extensions of both Indicated and Inferred resources beneath the existing Mt Olympus open pit shell design from the 2025 scoping study.
Mt Olympus Plan View showing trace of recently completed drill holes KADD0002, KADD0004 and KADD0005 against Indicated and Inferred resource block model (orange and green blocks), historic drill hole intervals (>0.5 g/t Au) and Scoping Study AUD$4,000/oz pit shell design (brown outline).
The program comprises around 2,600 metres of drilling across six diamond holes. Three holes have already been completed since drilling recommenced in early January, with approximately 990 metres drilled to date. The third hole, drilled to 216 metres, has now been finished.
Mt Olympus Long Section (looking ~NNE), Indicated and Inferred block model (orange and green blocks), historic drill hole intercepts (>0.5 g/t Au)3 and Scoping Study AUD$4,000/oz pit shell design (brown outline).
Kalamazoo said the program is designed to generate key geological and structural data to underpin ongoing mine development and optimisation work as part of the PFS. Assay results from the program will be reported once they are received and compiled.
The Mt Olympus drilling represents the first phase of a broader suite of planned drilling programs across the Ashburton Gold Project during 2026, as the company looks to continue building confidence in the resource base and development options.
Mt Olympus Cross-Section 591,985mE (looking ~W) with KADD0004 drill hole trace (red), geology interpretation, historical drill hole intercepts (>0.5 g/t Au)3 and Scoping Study AUD$4,000/oz pit shell design (brown outline).
PFS marks next phase for Ashburton
The commencement of the Mt Olympus PFS follows Kalamazoo’s earlier scoping-level work at Ashburton and reflects growing momentum at the Pilbara gold project during a period of elevated gold prices.
The company holds 100% ownership of the Ashburton Gold Project, which hosts a 1.44Moz gold resource and forms the cornerstone of Kalamazoo’s development pipeline.
While still at the study and drilling stage, the PFS is intended to assess the technical and economic parameters required to advance Mt Olympus towards a potential development decision.
CEO transition under way
Alongside the operational update, Kalamazoo confirmed that chief executive officer Dr Luke Mortimer will step down at the end of January after more than seven years with the company. Mortimer has accepted a senior overseas role with a major resource company.
Executive chairman Luke Reinehr thanked Mortimer for his contribution, noting his role in advancing Kalamazoo’s asset portfolio and overseeing the company’s progression towards development.
The board has commenced a search for a new CEO to lead Kalamazoo through its next growth phase, with the Ashburton Gold Project expected to remain a central focus.
Broader Pilbara and Victorian exposure
In addition to Ashburton, Kalamazoo holds a portfolio of gold and base metals projects across Western Australia and Victoria. In the Pilbara, this includes the Mallina West project, located along strike from and within the same structural corridor as Northern Star Resources’ Hemi gold discovery.
In Victoria, Kalamazoo controls several projects across the Central Victorian Goldfields, providing longer-term exploration optionality alongside its advancing Pilbara assets.
With the Mt Olympus PFS now underway and drilling in full swing, Kalamazoo is set for a busy start to 2026 as it works to refine the development pathway at Ashburton.