ASX: KZR - Kalamazoo Resources
- Matt Birney
- 18 hours ago
- 4 min read
Kalamazoo Resources: Northern Star could’ve bought this project for $30m but didn’t – big mistake!
Kalamazoo Resources CEO Andrew McDougall on 2GB, 3AW & 6PR Bulls N' Bears Report
ASX-listed Kalamazoo Resources CEO Andrew McDougall talks to Matt Birney on Bulls N’ Bears about the latest spectacular gold drill hits at Mt Olympus – and there’s plenty of them!
TO LISTEN TO THE KALAMAZOO RESOURCES AUDIO INTERVIEW - CLICK BELOW
Back in 2025, Northern Star Resources opted not to take up a $30 million option to buy Kalamazoo's Mount Olympus gold project near Paraburdoo, after they just paid $5 billion to buy out De Grey Mining. Since then, the gold price has hiked about 23% and Kalamazoo has tabled some stellar drill numbers, the best of which probably came out in the last week. The project already hosts four deposits anchored by the namesake Mount Olympus deposit, where the company is looking to update the resource and a pre-feasibility study.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears, brought to you today by West Australian gold developer Kalamazoo Resources
Matt Birney - ASX code: KZR.
Matt Birney - I'm Matt Birney and I'm joined now by the CEO of Kalamazoo, Andrew McDougall.
Matt Birney - Hi, Andrew.
Andrew McDougall - Hi Matt, how are you?
Matt Birney - I'm good. Okay, so back in 2025, Northern Star Resources opted not to take up a $30 million option to buy Kalamazoo's Mount Olympus gold project near Paraburdoo, after they just paid $5 billion to buy out De Grey Mining. Since then, the gold price has hiked about 23% and Kalamazoo has tabled some stellar drill numbers, the best of which probably came out in the last week. The project already hosts four deposits anchored by the namesake Mount Olympus deposit, where the company is looking to update the resource and a pre-feasibility study.
Matt Birney - All right, Andrew, you shot the lights out recently at Mount Olympus with some stellar drill resource numbers. Lots to unpack here. Let's start with some of the longest intersections from the most recent campaign. Give me some examples.
Andrew McDougall - Yeah, Matt, 36 meters at 16 grams per tonne, 74 meters at 4.1 and 45 meters at 2.
Matt Birney - Yeah, good numbers. Was that 36 at 16, the best grade reported in the latest campaign?
Andrew McDougall - It was on the whole length, but within that there's 10 meters at 49 and with the other hole 17 meters at 8.3 and 9 meters at 11, so great result.
Matt Birney - Yeah, how many holes did you put down in the latest campaign and how many struck pay dirt? Because when I look at your result tables, there's length and grade everywhere it seems.
Andrew McDougall - 72 holes for the 14,000 meters, but we've got results back of 43 holes. In the current campaign, 20 sets of results, some of partial holes. 15 of those have gone over 50 gram meters and amazingly five of those over 100 gram meters.
Matt Birney - Hmm, certainly good numbers. What's the existing resource at this project? And how much of that resource is attributed to the Mount Olympus deposit?
Andrew McDougall - Yeah, the total resource is 16.2 at 2.8 for 1.44 million ounces, but Mount Olympus is the majority of that, 12.2 million tonnes at 2.7 for just over 1 million ounces.
Matt Birney - What opportunities if any do you have to break out of that existing resource?
Are there any out wide areas that are looking interesting?
Andrew McDougall - Yeah, there are. Well, in addition to drilling down Mount Olympus, we have the peak target that we released on the 26th of May this year. That target is 1.7 to 2.6 million tonnes at 3.4 to 5 grams per tonne for 240 to 380,000 ounces.
Matt Birney - That's in the underground, is it?
Andrew McDougall - That looks like a really good underground target for us.
Matt Birney - And when's the market likely to see an upgraded mineral resource? No doubt this latest campaign's going to do something to that resource, and when will you table the pre-feasibility study?
Andrew McDougall - Yeah, the resource will be released probably in the last quarter of this year and we'll move to a PFS completion and likely declaration of reserve in March.
Matt Birney - Yeah, well I certainly look forward to seeing the numbers and I'm pretty sure Northern Star Resources might too, having given this project up.
Matt Birney - Andrew McDougall from Kalamazoo Resources.
Matt Birney - Thanks for joining me on Bulls N' Bears and remember, we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
Outro - For more public company CEO interviews, go to the Money page on the 6PR, 2GB, 4BC and 3AW websites and click the public companies tab.
