Odyssey Gold’s latest drilling at Tuckanarra confirms continuity and high-grade extensions at Anchor, Maybelle, and Lucknow deposits, underpinning updated resource estimates and mining studies.
- High-grade gold intersections beneath historical workings at Anchor
- Shallow and deeper mineralisation confirmed at Maybelle
- Consistent moderate-grade zones at Lucknow remain open at depth
- 249 holes drilled totalling ~20,000m with assays pending for 89 at Cable and Bollard
- Updated Mineral Resource Estimates underway to support mining studies
High-Grade Gold Hits Boost Confidence at Anchor
Odyssey Gold (ASX:ODY) has delivered a fresh tranche of promising drilling results from its Tuckanarra Gold Project in Western Australia, with the Anchor deposit standing out for its high-grade gold intersections beneath old workings. Notably, assays returned 2 metres at 29.1 g/t Au from 81 metres, including a blistering 1 metre at 57.2 g/t (CBRC0414), alongside other strong hits such as 4 metres at 5.9 g/t and 3 metres at 8.6 g/t. These results confirm the continuity of mineralisation and hint at untapped underground potential below the historical shafts that yielded around 6,000 ounces at 25.5 g/t in the early 1900s.
The drilling program, encompassing 249 holes across multiple deposits, was designed to bolster geological confidence ahead of updated Mineral Resource Estimates (MREs) and mining studies. At Anchor, the new data not only infills the current shallow Inferred resource of 90,000 tonnes at 2.6 g/t (7,000 ounces) but also extends mineralisation outside the existing resource boundary, indicating room for resource growth.
Maybelle Drilling Confirms Shallow Resources and Deeper Extensions
At Maybelle, where historical mining extracted approximately 10,700 ounces from a shallow pit, recent drilling reaffirmed the consistency of gold mineralisation within the planned open pit. The deposit currently holds 660,000 tonnes at 1.9 g/t Au for 41,000 ounces across Indicated and Inferred categories. Encouragingly, several deeper intersections were recorded, including 9 metres at 3.6 g/t from 24 metres and 3 metres at 4.6 g/t from 104 metres, suggesting mineralisation remains open at depth and warrants further evaluation.
These results support Odyssey’s strategy to expand the resource base beyond the initial Stage 1 development, which targets 79,000 ounces over 29 months as outlined in the recent scoping study. The company is advancing mining studies alongside metallurgical testwork to optimise recovery and processing, building on a toll milling agreement at Kirkalocka.
Lucknow Shows Consistent Moderate-Grade Mineralisation Open at Depth
Lucknow, with an existing Inferred resource of 220,000 tonnes at 1.3 g/t Au (9,000 ounces), also delivered solid results confirming mineral continuity beneath historical workings. Drilling returned intervals such as 7 metres at 2.6 g/t and 8 metres at 1.8 g/t, with mineralisation remaining open at depth. These findings underpin the potential for future underground mining opportunities, complementing the open pit focus at other deposits.
Pending Assays and Next Steps
While the current release covers Anchor, Maybelle, and Lucknow, assays from 89 holes drilled at Cable and Bollard deposits remain pending. These results will be crucial for further resource updates, especially given Cable’s status as the largest deposit with 2.75 million tonnes at 1.8 g/t Au (158,000 ounces), recently upgraded in resource confidence.
Odyssey’s total Tuckanarra Mineral Resource stands at 6.3 million tonnes at 2.2 g/t Au for 451,000 ounces, predominantly within granted mining leases and supported by a low-capital Stage 1 plan. The company is progressing updated MREs and mining studies to refine development scenarios, with a clear eye on converting Inferred resources to Indicated status through targeted drilling.
Executive Director Matt Syme highlighted that the drilling was aimed at increasing confidence ahead of resource updates, noting that the high-grade intersections beneath historical workings at Anchor and Maybelle reinforce the longer-term underground potential at Tuckanarra. With metallurgical testwork and mining technical studies ongoing, Odyssey is methodically advancing its growth strategy in the Murchison Goldfields.
Bottom Line?
Odyssey Gold’s drilling results at Tuckanarra reinforce resource growth and underground potential, but upcoming assays from Cable and Bollard will be key to shaping the next phase of development.
Questions in the middle?
- How will pending assay results from Cable and Bollard impact the overall resource profile and development plans?
- What are the timelines and implications for upgrading Inferred resources to Indicated status through ongoing drilling?
- How might the deeper high-grade intersections influence the feasibility and design of potential underground mining operations?