Odyssey Gold’s latest drilling at its Cable deposit within the Tuckanarra Project confirms high-grade gold continuity and resource expansion potential, underpinning its staged development strategy.
- High-grade gold intercepts support resource upgrade
- Over 190 holes drilled since March 2026
- Cable deposit remains cornerstone of development
- Broader 2.3km mineralised corridor offers exploration upside
- Updated Mineral Resource Estimate and Scoping Study imminent
High-Grade Gold Continuity Reinforces Cable as Development Focus
Odyssey Gold Limited (ASX:ODY) has strengthened confidence in its Tuckanarra Gold Project with new drilling results that confirm high-grade gold mineralisation beneath and adjacent to the Cable deposit. The company reported intercepts including 5 metres at 15.6 grams per tonne (g/t) gold from 136 metres, featuring a 2-metre section grading 36.2 g/t Au, among other significant hits. These findings bolster Cable’s position as the cornerstone of Odyssey’s staged development plan.
Since March 2026, Odyssey has completed over 190 reverse circulation and diamond drill holes totalling more than 15,000 metres across multiple prospects at Tuckanarra. Results from 47 holes reported to date demonstrate continuity of mineralisation and support upgrading inferred resources to indicated status, a key step for advancing mine design and scheduling.
Resource Growth and Exploration Potential Along 2.3km Corridor
The Cable deposit currently holds an Indicated and Inferred Mineral Resource Estimate (MRE) of 1.69 million tonnes at 2.3 g/t Au for 123,000 ounces. It is the largest open pit resource within the project and expected to anchor initial mining operations. Recent drilling has confirmed multiple parallel mineralised structures; including the historic Trilby workings and Cable West Hanging Wall; that were previously excluded from resource models, highlighting clear opportunities for resource expansion.
Importantly, the mineralised corridor extending from Cable through Bollard to Highway spans over 2.3 kilometres and remains open along strike and at depth. Numerous parallel lodes and historical workings within this corridor are only partially tested, presenting substantial exploration upside beyond the current 407,000-ounce total resource base across Tuckanarra.
Technical Work Supports Upcoming Resource and Scoping Study Updates
Alongside drilling, Odyssey is progressing technical studies including geotechnical, hydrogeological, metallurgical, and mine design optimisation workstreams. These efforts are designed to underpin an updated Mineral Resource Estimate for Cable and a Stage 1 Scoping Study, both slated for imminent release. The company also plans to complete a 20,000-metre drilling program this year, targeting further resource growth and development readiness.
Executive Director Matt Syme emphasised that Cable is rapidly emerging as the project’s development centerpiece, noting the drilling has not only improved confidence in existing resources but also revealed the broader mineralised system’s potential. “We’re increasingly convinced the existing 407koz resource is only the beginning of the broader Tuckanarra opportunity,” Syme said.
Historical Context and Ongoing Exploration Strategy
The Tuckanarra Project has a rich history of gold mining dating back to the late 19th century, with multiple small underground and open pit operations exploiting narrow quartz veins associated with banded iron formations. Odyssey acquired its interest in late 2020 and has since accelerated exploration and development efforts, building on prior work by Metana Minerals, St Barbara Mines, and others.
Geologically, the project sits within the Meekatharra-Wydgee Greenstone belt, characterised by folded mafic and iron formation units with gold mineralisation linked to quartz veining and sulphide mineral assemblages. The company’s drilling is designed to intersect mineralisation orthogonally, improving the reliability of resource estimates.
With ongoing drilling confirming multiple high-grade zones and parallel lodes, Odyssey is planning targeted exploration programs for the second half of 2026 to test untested structures and historical workings along the mineralised corridor. This approach aims to build on the current resource base and support future mine expansions.
Bottom Line?
Odyssey Gold’s drilling results at Cable reinforce its development strategy while leaving ample room for resource growth across Tuckanarra’s extensive mineralised corridor.
Questions in the middle?
- How will the upcoming updated Mineral Resource Estimate impact project economics?
- What potential does the broader Cable-Bollard-Highway corridor hold for new discoveries?
- How will additional drilling influence the timing and scale of staged development at Tuckanarra?