With gold prices surging to new heights, Australian explorer Kalamazoo Resources is making a decisive move to advance its flagship Western Australian asset. The company has officially commenced a prefeasibility study at the Mt Olympus gold deposit, a key part of its Ashburton project in the Pilbara region.
Study Launch and Aggressive Drilling Campaign
The prefeasibility study kicked off this week, with technical consultants assembling in Perth to begin work that could lead to Kalamazoo's first producing mine. This strategic step coincides with an active drilling program designed to significantly boost the project's resource base.
A diamond drill rig is currently turning at the site, targeting extensions of mineralisation below the existing Mt Olympus open pit shell. The program plans for six holes totalling 2,600 metres, with three holes and nearly 1,000 metres already completed. This drilling aims to test the depth and continuity of both indicated and inferred resources beneath the pit floor.
Building a Stronger Foundation for Development
Mt Olympus is already the cornerstone of the Ashburton project, hosting a resource of over one million ounces of gold at an average grade of 2.7 grams per tonne. The current drilling campaign is critical for upgrading inferred resources, which average 2.3g/t, into the higher-confidence indicated category.
Success here would allow Kalamazoo to refine mine designs, add ounces near planned infrastructure, and improve the initial production profile to generate early cash flow. The company's goal is to build a robust resource base to firmly underpin a future mining development. Drilling is expected to conclude within weeks, marking just the first phase of a busy 2026 exploration schedule across the broader Ashburton land package.
Leadership Transition Amid Strategic Progress
Alongside this technical milestone, Kalamazoo announced a significant management change. Chief Executive Officer Luke Mortimer will step down at the end of January after more than seven years with the company, having accepted a senior role with a major overseas resource group. Mortimer joined as exploration manager and was instrumental in building the company's asset base and guiding its transition from explorer to developer.
Executive Chairman Luke Reinehr will provide continuity, stating the board has begun the search for a new CEO. He emphasised that the company's development pathway at Ashburton is clearly mapped, with the prefeasibility study now solidly underway.
With drilling active, consultants engaged, and a favourable gold price providing strong macro support, Kalamazoo is positioning Mt Olympus to become a flagship development story in the Pilbara's resurgent gold sector.
