Odyssey Gold has unveiled high-grade gold hits at the new Shackle target and reinforced mineralisation continuity at Bollard within its Tuckanarra Project, signalling fresh resource growth potential.
- Shackle drilling hits up to 16.1g/t gold at shallow depths
- Bollard drilling confirms plunging shoots over 140m strike
- Tuckanarra Project Mineral Resource stands at 6.3Mt @ 2.2g/t Au
- Results to feed into updated Mineral Resource Estimates and mining studies
- Systematic testing of historical workings driving exploration strategy
New High-Grade Shoot Discovered at Shackle
Odyssey Gold Limited (ASX:ODY) has struck gold beneath historical workings at its newly tested Shackle prospect, part of the sprawling Tuckanarra Gold Project in Western Australia. First-pass reverse circulation (RC) drilling returned standout results including 3 metres at 16.1 grams per tonne (g/t) gold from 55 metres, 4 metres at 5.3g/t from 31 metres, and 3 metres at 1.7g/t from 44 metres. These shallow intercepts beneath an 80-metre strike of old workings confirm a previously unrecognised high-grade shoot on a structure parallel and 500 metres north-northwest of the Cable deposit.
The Shackle discovery underscores Odyssey’s strategy of systematically probing beneath historic shallow mining that primarily targeted oxide mineralisation above the water table. As Executive Director Matt Syme noted, this approach could meaningfully boost the early years of production at Tuckanarra by unlocking fresh high-grade zones overlooked by past explorers.
Bollard Deposit Shows Continuity and Depth Potential
Meanwhile, ongoing drilling at the Bollard deposit continues to validate the company’s geological model and resource confidence. Recent RC holes confirmed the continuity of high-grade plunging shoots beneath the historical pit, with notable intersections including 15 metres at 3.9g/t from 102 metres and 6 metres at 3.4g/t from 77 metres. These results extend mineralisation along 140 metres of strike, linking back to previously reported hits such as 5 metres at 14.0g/t and a 130-metre step-out hole grading 7.65 metres at 11.8g/t.
Bollard, mined in the early 1990s for approximately 16,800 ounces from oxide and laterite zones, currently hosts a shallow open pit Indicated and Inferred Mineral Resource Estimate (MRE) of 0.68 million tonnes at 2.1g/t for 46,000 ounces. The new drilling not only enhances near-surface confidence but also highlights the potential for deeper, higher-grade zones that could support underground mining. Importantly, the gap between Bollard and the adjacent Cable deposit remains lightly tested, with electromagnetic geophysical anomalies suggesting sulphide mineralisation continuity, a prime target for future drilling.
Broader Exploration Pipeline and Resource Growth
Odyssey’s broader Tuckanarra Project holds Indicated and Inferred Mineral Resources of 6.3 million tonnes at 2.2g/t gold for 451,000 ounces, spread across multiple deposits including Cable, Highway, Bottle Dump, and Anchor. The company plans to incorporate these latest results into updated MREs and mining studies, aiming to refine resource confidence and underpin development plans.
The exploration pipeline extends well beyond Shackle and Bollard. Odyssey has identified over 70 priority targets across the project, many linked to historical workings with limited modern drilling. High-priority prospects such as East Lynn, Bottle Dump East, and Highway East offer further opportunities to replicate Shackle’s success by targeting shallow, high-grade shoots beneath old mining areas.
This disciplined approach follows the recently completed Stage 1 Scoping Study, which outlined a low-capital, high-margin open-pit operation producing 79,000 ounces over 29 months with robust economics. The new drilling results dovetail with this development focus by potentially adding ounces in the near term and extending the project’s mine life through ongoing resource growth.
Technical Rigour and Quality Assurance
All drilling was conducted using industry-standard RC rigs, with samples assayed primarily via Photon Assay, a non-destructive, chemical-free method accredited by NATA that uses larger sample sizes than traditional fire assay. Quality control measures included certified reference materials, field duplicates, and rigorous logging protocols. Drill hole collars were surveyed with RTK GPS, ensuring positional accuracy for resource modelling.
While true widths of mineralised intersections are estimated at 70-100% of downhole lengths, some drill angles were compromised by access restrictions. Nonetheless, the data spacing and distribution are sufficient to support ongoing Mineral Resource estimation and classification upgrades.
Bottom Line?
Odyssey’s Shackle discovery and Bollard extensions add tangible momentum to Tuckanarra’s resource growth, but the scale and continuity of these shoots will be critical to watch as updated resource estimates and mining studies unfold.
Questions in the middle?
- How will the Shackle discovery influence the sequencing and economics of the Stage 1 development?
- Can the Bollard-Cable gap’s EM conductors translate into a meaningful resource extension?
- What timelines and drilling intensity will Odyssey apply to convert Inferred Resources to Indicated and Measured categories?