 has fast-tracked a scoping study at its 1.44moz Ashburton gold project in WA.){kind=link}
Kalamazoo secures golden future
Kalamazoo Resources (ASX: KZR) has fast-tracked a scoping study at its 1.44moz Ashburton gold project in WA.
Following the conclusion of an option agreement held by De Grey Mining, acquired by Northern Star Resources (ASX: NST), Kalamazoo now wholly owns the Ashburton project and has commenced a scoping study for the optimal developmental pathway at the Mt Olympus deposit.
Kalamazoo is leveraging the substantial technical work completed at the site, by De Grey and Northern Star, to accelerate the completion of the study targeted for Q4 CY25.
Recent re-optimisation studies conducted at the deposit utilising the conservative gold price of $4,500/oz indicates an increase in estimated mineable material to 772,000oz at 2.53g/t of gold.
Recent re-optimisation studies conducted at the deposit utilising the conservative gold price of $4500/oz indicates an increase in estimated mineable material to 772,000oz at 2.53g/t of gold.
Kalamazoo executive chairman Luke Reinehr says retaining the Ashburton project in today’s record gold market is a pivotal and positive milestone for the company.
“Since initially granting the Option to De Grey almost 18 months ago, the gold price has risen by over $2000 — fundamentally improving the project’s economics,” he said.
“Backed by the strong support of our major shareholders, we are now ideally positioned to rapidly advance the Ashburton gold project and unlock its full value.”
A share placement, raising about $2m, will fund the study and provide working capital. The company is also considering a pre-feasibility study and further exploration drilling in the near term.