New Vein Discovery Raises Questions on Tuckanarra’s Mining Strategy and Resource Size

• Discovery of new mineralised hanging wall vein west of current resource
• Notable gold intercepts including 20m at 7.1g/t and 7m at 2.2g/t
• Extension of mineralisation confirmed over 1km strike in Anchor-Trilby zone
• Current Mineral Resource Estimate stands at 5.14Mt at 2.5g/t Au for 407koz
• Plans underway for further infill and exploration drilling to upgrade resource categories

New Vein Discovery at Tuckanarra

Odyssey Gold Limited (ASX, ODY) has announced encouraging progress from its recent reverse circulation drilling campaign at the Tuckanarra Gold Project in Western Australia. The company identified a new mineralised hanging wall vein structure approximately 50 metres west of the current resource estimate, marking a significant development in the project’s exploration narrative.

Among the standout intercepts were 20 metres grading 7.1 grams per tonne (g/t) gold from hole CBRC0199 and 7 metres at 2.2 g/t from CBRC0175. These results not only highlight the presence of high-grade mineralisation but also suggest the potential for shallow, economically viable mining operations.

Extending Known Mineralisation

The drilling program also confirmed continuity of mineralisation across several key zones, including the Cable West, Cable East, and Anchor-Trilby structures. Notably, the Anchor-Trilby zone, which hosts historical underground workings, now shows mineralisation extending over a strike length of more than one kilometre. This extension could materially increase the footprint of the resource and enhance future mining flexibility.

Odyssey’s Executive Director, Matt Syme, emphasized the significance of these findings, noting that the results open up opportunities to grow the footprint of mineralisation westward towards the historic Trilby Mine. He also highlighted the potential for further resource upgrades through ongoing infill drilling and exploration beneath existing resources.

Robust Mineral Resource Base

The Tuckanarra Project currently boasts a Mineral Resource Estimate of 5.14 million tonnes at 2.5 g/t gold, equating to approximately 407,000 ounces. This includes a high-grade subset of 2.25 million tonnes at 3.9 g/t for 283,000 ounces above a 2.0 g/t cut-off. The recent drilling results are expected to feed into resource model updates, potentially increasing both the size and confidence of the resource base.

Importantly, the mineralisation styles at Tuckanarra are consistent with high-grade quartz veins and sulphide replacement zones, which historically have yielded profitable mining operations. The presence of laterite mineralisation near surface also adds to the shallow resource potential.

Looking Ahead, Further Drilling and Resource Growth

With the recent drilling rig demobilised, Odyssey is planning a follow-up campaign focused on infill drilling to upgrade resource categories from Inferred to Indicated, particularly in the Highway, Bollard, Cable, and Maybelle areas. Additionally, the company intends to test emerging mineralised structures in the Anchor-Trilby zone and explore beneath existing resources where geophysical targets have shown promise.

This strategic approach aims to refine the resource model, enhance mining studies, and ultimately support the development of a robust, economically viable gold operation at Tuckanarra.

Bottom Line?

Odyssey Gold’s latest drilling results at Tuckanarra underscore the project’s growing resource potential and set the stage for further exploration-driven growth.

Questions in the middle?

• How will the new hanging wall vein impact the overall resource classification and mine plan?
• What are the expected timelines and targets for the upcoming drilling campaigns?
• Could the Anchor-Trilby zone extensions lead to a significant resource upgrade or new mining fronts?