Orbminco’s maiden drilling at Majestic North confirms robust shallow gold mineralisation, underpinning its planned acquisition of the project. High-grade intercepts highlight promising exploration upside.
- Stage 1 aircore drilling confirms continuous supergene gold zone
- Grades up to 7.62 g/t Au intersected near northern deposit edge
- Mineralised zone extends 1,500m strike length and 500m width, open along strike
- Acquisition of Majestic North subject to shareholder approval on 18 September
- Further drilling planned to test primary bedrock source and resource extensions
Robust Drilling Results Confirm Project Potential
Orbminco Limited (ASX, OB1) has reported encouraging results from its initial drilling campaign at the Majestic North Gold Project, located 65 kilometres southeast of Kalgoorlie in Western Australia. The Stage 1 aircore program, comprising 53 holes and over 3,000 metres drilled, has validated the existing JORC 2012 resource and revealed a continuous supergene gold mineralisation zone with grades reaching as high as 7.62 grams per tonne (g/t) gold.
The mineralised horizon, lying 20 to 30 metres below surface, extends over a strike length of approximately 1,500 metres and up to 500 metres wide. Importantly, this zone remains open to the north and south, suggesting further upside potential beyond the current footprint.
High-Grade Intercepts Signal Primary Source Nearby
Among the standout results were intercepts from drill hole OB_MAC_038, which returned 1 metre at 5.94 g/t Au and 1 metre at 7.62 g/t Au within the northern portion of the deposit. These high-grade hits may indicate proximity to the primary bedrock source of the supergene mineralisation, a key target for upcoming drilling phases. The presence of such grades near surface bodes well for potential open-pit mining operations.
Acquisition Progress Hinges on Shareholder Approval
These positive drilling outcomes have strengthened Orbminco’s confidence to proceed with its binding agreement to acquire 100% of the Majestic North Project from Fortify Mining Pty Ltd. The acquisition deal includes a $1 million cash payment, $2.4 million in OB1 shares, and a production payment of $75 per ounce of gold produced.
The transaction remains subject to several conditions precedent, notably shareholder approval at a general meeting scheduled for 18 September 2025. Orbminco’s board, led by Chairman Ian Gordon, has urged shareholders to support the acquisition, highlighting the strategic importance of Majestic North for the company’s growth trajectory.
Looking Ahead, Expanding the Resource and Unlocking Value
With the initial drilling confirming the robustness of the supergene gold zone, Orbminco plans further exploration to test for lateral extensions and the deeper primary mineralisation. The deposit is now understood to comprise a supergene layer overlying stacked, gold-bearing quartz veins, which could significantly enhance resource size and grade.
Baseline studies and resource updates are anticipated in the first half of 2026, setting the stage for potential development decisions. The project’s proximity to existing gold operations and shallow mineralisation profile add to its attractiveness as a near-term mining opportunity.
Bottom Line?
Orbminco’s drilling success at Majestic North sets the stage for a pivotal shareholder vote and a promising exploration campaign ahead.
Questions in the middle?
- Will the shareholder meeting on 18 September approve the Majestic North acquisition?
- How will upcoming drilling target the primary bedrock source and impact resource estimates?
- What are the potential timelines and capital requirements for advancing Majestic North towards production?