Odyssey Gold Limited has reported further drilling success at its Tuckanarra Gold Project in Western Australia, extending mineralisation beyond existing resource boundaries. The latest results highlight promising gold intercepts at the Cable and Bollard deposits, supporting potential resource growth.
- New drilling extends mineralisation outside current Mineral Resource Estimates
- Significant gold intercepts including 8m @ 3.4g/t Au and 2m @ 6.3g/t Au
- Bollard deposit extended 70m below existing resource with high-grade intercepts
- Metallurgical testwork underway to optimise processing of oxide mineralisation
- Further drilling planned to upgrade resources and test extensions along strike and at depth
Expanding the Tuckanarra Gold Footprint
Odyssey Gold Limited (ASX, ODY) has announced encouraging results from its ongoing drilling campaign at the Tuckanarra Gold Project in Western Australia’s Murchison region. The company’s recent reverse circulation (RC) and diamond drilling efforts have successfully intersected gold mineralisation beyond the confines of the existing Mineral Resource Estimates (MRE), particularly at the Cable and Bollard deposits.
The Tuckanarra project, which currently holds an Indicated and Inferred MRE of 5.14 million tonnes at 2.5 grams per tonne gold for 407,000 ounces, is showing signs of further growth potential. Notably, the Cable Deposit, with an MRE of 1.69 million tonnes at 2.3 g/t Au for 123,000 ounces, has seen mineralisation extended westwards and below the current resource base.
Key Drilling Highlights and Geological Insights
Among the standout intercepts reported are 8 metres at 3.4 g/t gold from 63 metres depth, 7 metres at 2.8 g/t from 31 metres, and 2 metres at 6.3 g/t from 154 metres, all from the Cable West Hanging Wall area. These results confirm the presence of quartz veining and oxide enrichment typical of the region’s gold mineralisation style.
At the Bollard deposit, diamond drilling has extended mineralisation approximately 70 metres below the existing resource, with a notable intercept of 2 metres at 4.1 g/t gold from 326 metres depth. This deeper mineralisation remains open along strike and at depth, suggesting further upside potential.
Geological complexity, including the presence of diorite dykes, has complicated interpretations, but the company’s use of electromagnetic (EM) surveying has proven effective in identifying blind mineralised zones beyond the known resource envelope.
Metallurgical Testwork and Future Plans
Odyssey is progressing metallurgical testwork on oxide mineralisation samples from the Cable area to optimise processing parameters. Early indications suggest favourable recovery characteristics, which could enhance the economic viability of mining these zones.
Looking ahead, the company plans to undertake further RC drilling to upgrade Inferred resources to Indicated status and to test extensions of mineralisation to the south of the Cable Hanging Wall, west of Cable, and around high-grade zones north of the Cable Pit. These efforts aim to refine the resource model and support upcoming mining studies.
Executive Director Matt Syme emphasised the significance of the results, noting that the drilling has successfully extended mineralisation within optimised open pit designs and that both Cable West and Cable West Hanging Wall remain open to the south. He also highlighted the utility of EM surveying in discovering mineralisation beyond the current resource boundaries.
Bottom Line?
Odyssey Gold’s latest drilling success at Tuckanarra sets the stage for resource growth and advancing mining studies.
Questions in the middle?
- How will the ongoing metallurgical testwork impact processing strategies and project economics?
- What timelines does Odyssey have for upgrading resources and advancing towards development decisions?
- Could further deep drilling at Bollard reveal a significant underground resource extension?