Kalamazoo Resources Limited has completed its resource definition drilling program at the Ashburton Gold Project in Western Australia, returning high-grade gold intersections including 20 metres at 19 grams per tonne gold from two metres downhole in hole KARC0206.

The 72-hole, 13,726-metre campaign at the Mt Olympus deposit has returned assay results from 62 holes. The latest batch also returned 69 metres at 3.0 grams per tonne gold from 149 metres in hole KARC0207, including 26 metres at 5.2 grams per tonne from 149 metres and 7 metres at 10 grams per tonne from 150 metres. Hole KARC0194 intersected 43 metres at 3.8 grams per tonne gold from surface, including 30 metres at 4.8 grams per tonne, while hole KADD0021 returned 30 metres at 5.7 grams per tonne gold from 193 metres. Hole KARC0204 intercepted 44 metres at 3.5 grams per tonne gold from 15 metres.

“The standout intersection of 20 metres at 19 grams/tonne gold from just two metres beneath the surface in KARC0206 is particularly encouraging. It demonstrates that the high-grade feeder structures are not confined to the lower siltstone unit but can extend upward into the upper stratigraphic units while maintaining exceptional grades.”

— Dr Ben Ackerman, Executive Director

The infill drilling program reduced drill spacing to approximately 20 metres by 20 metres across key areas of the deposit. Drilling has intersected mineralization both within and beyond the current Mineral Resource model, including outside the resource envelope while remaining within the conceptual scoping study pit shell.

The Ashburton Gold Project currently contains Mineral Resources of 16.2 million tonnes at 2.8 grams per tonne gold for 1.44 million ounces of contained gold. To support ongoing work, Kalamazoo raised $8.0 million in an oversubscribed placement in July 2026.

“The combination of exceptional near- surface grades, broad mineralised intervals and increasing geological confidence further strengthens Mt Olympus as the foundation asset for potentially long-life Ashburton gold operations.”

— Andrew McDougall, Chief Executive Officer

Assay results from the remaining ten holes are pending. The cumulative assay data will be incorporated into an updated Mineral Resource Estimate targeted for release in the fourth quarter of 2026, which will feed directly into the Ashburton Pre-Feasibility Study scheduled for completion in the first quarter of 2027. Meanwhile, underground growth drilling is underway beneath Mt Olympus alongside separate drilling at the Peake deposit.

Read the full announcement: 20m @19g/t Au and 43m @3.8g/t Au-Exceptional High-Grade Gold