Ordell Minerals Boosts Barimaia Project with New Tenements and 15,000m Drill Program

Strategic Land Grab Targets New Gold Hosts

Ordell Minerals Limited (ASX:ORD) has significantly expanded its footprint at the Barimaia Gold Project in Western Australia's Murchison region by snapping up three new prospecting licences along strike from its McNabs East Prospect. These newly acquired tenements, P58/2076, P58/2077, and P58/2035, collectively known as the Wanbanna Tenements, cover a large, under-explored area that Ordell believes is highly prospective for granodiorite intrusions, the preferred host rock for gold mineralisation at Barimaia.

Recent air-core drilling on the northern boundary of Ordell's existing tenement M58/371 intersected granodiorite, hinting at over 3 kilometres of strike potential on the adjacent new licence P58/2077. Ordell’s Managing Director Michael Fowler emphasised the strategic value of this acquisition, noting it opens a “large area where there is no drilling” and will be systematically tested in the upcoming drilling program.

Robust Drilling Campaign to Follow Acquisition

The newly acquired ground will be folded into Ordell’s ambitious ~15,000-metre drilling program slated from May through July 2026. This program, already underway with reverse circulation (RC) and diamond drilling at McNabs East, will now include heritage surveys, an extension of detailed gravity surveys, and initial air-core drilling across the new tenements. The goal is to identify fresh granodiorite intrusions and extend high-grade mineralisation beyond current boundaries.

Drilling targets span multiple zones including the McNabs East Main and North Zones, Aircore South and East, and the Furnace area, where previous air-core assays returned up to 2.88g/t Au. The integration of the new tenements into the Aircore South and East programs reflects a strategic push to test the interpreted positions of potential granodiorite intrusions across a broader strike length.

Consideration Terms and Deferred Payment

Ordell has agreed to pay $40,000 in cash and $40,000 in fully paid shares (~58,737 shares at $0.681 per share) to acquire the Wanbanna Tenements. A deferred consideration of $250,000 is also on the table, payable either in cash or shares upon the announcement of a JORC-compliant Mineral Resource Estimate exceeding 25,000 ounces of gold on these tenements. This milestone-linked payment underscores Ordell’s confidence in the exploration potential while managing upfront capital outlay.

Historical Drilling and Exploration Context

Historical reverse circulation drilling on the Wanbanna Tenements (18 holes totalling 1,030 metres) by Wanbanna Pty Ltd revealed no significant gold assays above 0.5g/t Au, highlighting the under-explored nature of the ground. Previous operators such as Independence Group, Metallo, and Genesis Minerals have conducted various drilling and geochemical programs across the broader Barimaia Project, confirming the presence of extensive granodiorite intrusions hosting gold mineralisation.

Ordell’s ongoing program builds on a string of encouraging results, including multiple high-grade intersections at McNabs East, detailed in recent announcements. The company’s systematic approach integrates geophysical surveys, heritage assessments, and staged drilling to unlock the district-scale potential of Barimaia. The current drilling campaign is a continuation of Ordell’s efforts to expand the known mineralisation footprint and discover new zones along a strike length exceeding 7 kilometres.

Notably, the company’s recent work has been documented in several updates, such as the high-grade gold extensions reported in April 2026, which underpin the scale and ambition of the current drilling program. Earlier in the year, Ordell also reported robust shallow gold zones at Barimaia, further validating the exploration model targeting granodiorite intrusions as key mineral hosts.