ASX: KZR - Kalamazoo Resources
- Matt Birney
- Aug 1
- 3 min read
Kalamazoo Resources: A golden windfall - 1.4m ounces, that’ll do!
Kalamazoo Resources CEO Luke Mortimer on 3AW, 2GB & 6PR Bulls N' Bears Report
Listen to ASX-listed Kalamazoo Resources CEO Luke Mortimer talk to Matt Birney on the Bulls N’ Bears Report about Kalamazoo clawing back its stellar Ashburton gold project after a Northern Star option over it expired.
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RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears, brought to you today by gold explorer Kalamazoo Resources
Matt Birney - ASX code: KZR.
Matt Birney - I'm Matt Birney, and I'm joined now by the CEO of Kalamazoo, Luke Mortimer.
Matt Birney - Hi Luke.
Luke Mortimer - Hi Matt.
Matt Birney - Okay, Luke. So, your 1.4 million ounce Ashburton gold project in WA's Pilbara has just dropped back into Kalamazoo's lap after an option held by Northern Star Resources expired. Do you really care that Northern Star didn't buy it? It seems to me there's an army of people out there at the moment looking for gold projects with the gold price where it is.
Luke Mortimer - There certainly is, Matt. And we're very excited to have it come back to us. When we originally did the deal with the DeGrey Mining 18 months ago, the gold price was something like Australian $2,600 per ounce and it's nearly double that. So, this project has significantly increased in value and we're looking forward to progressing it forward towards development.
Matt Birney - I know Northern Stars got a pretty full dance card having just spent $5 billion to buy the DeGrey Mining. So probably not surprising. Now tell me what's the full resource estimation at Ashburton and how many ounces of that resource do you say are mineable in the near term?
Luke Mortimer - Yeah, we recently did an updated mineral resource estimate of 16.2 million tonnes at a very healthy 2.8 grams per tonne gold for a total of 1.44 million ounces. So more recently we did an optimization study at a conservative $4,500 Australian dollars per ounce. And that gave us a estimated mineable material of about something like 772,000 ounces at 2.5 grams per tonne gold over one integrated large single pit development.
Matt Birney - Yeah, I've seen some pretty good drill numbers come out of this project. What are some of the better ones off the top of your head?
Luke Mortimer - Yeah well, during the due diligence period, DeGrey did 10 metallurgical drill holes across the resource. And, some of the better numbers are something like 47 m at 5 1/2 grams gold from 30 meters, 55 1/2 meters at 4.1 grams gold from 177 meters, and 31.8 meters at 3.3 grams gold, from 132 meters. That really supports that resource model.
Matt Birney - Yeah now, I know you've announced you're going to fast track a scoping study into the project. When will you get this underway and when's it likely to be tabled?
Luke Mortimer - Yeah, well, we've already started the scoping study. We've appointed a study manager and appointed various consultants already. And we expect to have that scoping study completed in about 3 months.
Matt Birney - Luke Mortimer 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.
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