Odyssey Gold’s Tuckanarra Project Boasts 407,000oz Resource Backed by Technical Study
Odyssey Gold Limited has reported encouraging results from a technical study supporting open pit mining at its Tuckanarra Gold Project and signed a key Memorandum of Understanding to process ore at Monument Mining’s nearby Burnakura plant.
- Technical study endorses open pit mining with 407,000 ounces gold resource
- Memorandum of Understanding signed with Monument Mining for ore processing
- Burnakura plant upgrade to 750,000tpa capacity under consideration
- Scoping Study to proceed alongside ongoing infill drilling
- Preliminary permitting and Great Northern Highway realignment advancing
Technical Study Validates Tuckanarra Potential
Odyssey Gold Limited (ASX – ODY) has taken a significant step forward in developing its Tuckanarra Gold Project in Western Australia’s prolific Murchison Gold District. A recent technical study conducted by Goldfields Technical Services (GTS) supports an open pit mining operation, highlighting a robust Mineral Resource Estimate (MRE) of 5.14 million tonnes at 2.5 grams per tonne gold, containing approximately 407,000 ounces. The study underscores the project’s strengths – shallow, simple mining, strong grades, favourable metallurgy, and a permitting environment that promises a relatively fast-track approval process.
The majority of the resource lies within granted Mining Leases, facilitating early mining activities. The study also incorporates geotechnical data confirming pit wall stability and metallurgical testwork indicating gold recoveries between 94.7% and 99.3%, reinforcing the project's economic viability.
Strategic Processing Partnership with Monument Mining
The MOU outlines collaborative technical and commercial assessments, site inspections, and regulatory engagement, setting a 12-month framework for progressing the potential processing arrangement. While non-binding, this agreement signals a strategic alignment that could accelerate Tuckanarra’s path to production.
Advancing Scoping Study and Resource Confidence
Building on the positive technical outcomes, Odyssey plans to proceed with a Scoping Study to further define project economics and development pathways. This will be supported by ongoing infill drilling aimed at upgrading resource classifications from Inferred to Indicated, thereby reducing geological uncertainty. The company’s executive director, Matt Syme, emphasised the advantages of the project’s simple mining approach, good metallurgy, and permitting prospects, while highlighting ongoing exploration potential for resource expansion.
Infrastructure and Permitting Progress
Permitting efforts are advancing alongside technical work. A notable infrastructure consideration is the proposed realignment of the Great Northern Highway, which currently intersects part of the resource area. Preliminary engineering designs estimate the realignment cost at approximately A$5.2 million, with environmental and regulatory assessments underway. The project benefits from existing environmental approvals and mining proposals, with no significant native title or heritage impediments identified on granted leases.
These factors collectively position Tuckanarra for a streamlined development trajectory, supported by solid technical foundations and strategic partnerships.
Bottom Line?
Odyssey’s Tuckanarra project is poised for rapid advancement, but the next year will be critical to confirm processing arrangements and resource upgrades.
Questions in the middle?
- Will Monument Mining proceed with the Burnakura plant upgrade and processing agreement?
- How will infill drilling results impact the resource classification and project economics?
- What are the timelines and risks associated with the Great Northern Highway realignment and permitting?
