Tuckanarra Drilling Yields 19m at 13.7g/t Gold, Boosting Resource Confidence

Strong Drilling Results Reinforce Tuckanarra Potential

Odyssey Gold Limited (ASX, ODY) has released encouraging results from its ongoing reverse circulation drilling program at the Tuckanarra Project in Western Australia's Murchison region. The latest assays from the Highway Deposit reveal multiple high-grade gold intercepts, including standout intervals such as 19 metres at 13.7 grams per tonne (g/t) gold from 61 metres depth, and 14 metres at 13.6 g/t from 158 metres. These results align closely with the 2024 Mineral Resource Estimate (MRE), which currently stands at 5.14 million tonnes at 2.5 g/t gold for 407,000 ounces.

Confirming Geological Continuity and Grade Consistency

The drilling program, comprising 22 holes totaling nearly 3,000 metres, was designed to infill and confirm resource areas within the Highway Deposit. The results have validated the geological interpretation and demonstrated consistent grade continuity, providing confidence in converting a significant portion of the resource from the Inferred to the Indicated category. This upgrade is critical for advancing the project towards feasibility and potential mining operations.

Open Pit Mining Prospects and Infrastructure Considerations

The Highway Deposit's mineralisation remains open at depth and along strike, with thick zones of oxide and fresh rock mineralisation suitable for open pit extraction. The deposit lies within an optimised pit shell based on a gold price of A$5,000 per ounce, underscoring its economic potential. However, mining development will require realignment of the Great Northern Highway and Telstra optic cables, with preliminary cost estimates around A$5 million. Such infrastructure adjustments are common in Western Australia but will factor into project economics.

Next Steps, Resource Update and Metallurgical Testing

Odyssey Gold plans to commence an updated Mineral Resource Estimate once all final assay results are received. Concurrently, metallurgical testwork is underway to optimise processing parameters, including gravity separation and cyanidation. Environmental and permitting activities, such as flora and fauna surveys and vegetation clearing proposals, are progressing in preparation for mining lease applications. These steps are essential to de-risk the project and move towards production readiness.

Broader Project Context

The Tuckanarra Project encompasses several deposits beyond Highway, including Cable, Bollard, Bottle Dump, Kohinoor, Lucknow, and Maybelle, collectively contributing to a substantial gold resource base. The region's geological setting within the Meekatharra-Wydgee greenstone belt is well known for hosting significant gold mineralisation, with historical mining dating back to the late 19th century. Odyssey's systematic exploration and resource definition drilling continue to unlock value across this portfolio.