Odyssey Gold Limited (ASX:ODY) | High-Grade Results Confirm New Shackle Discovery and Continuity of Bollard Shoots
Trading Titan | Odyssey Gold Limited (ASX: ODY) | Exploration Update | Tuckanarra Gold Project
Odyssey Gold Limited has released new drilling results from the Tuckanarra Gold Project in Western Australia, covering two exploration programs: first-pass drilling at the newly identified Shackle prospect and continued resource definition drilling at the Bollard deposit.
At Shackle, all three reverse circulation drill holes intersected gold beneath historical workings. The standout result was three metres at sixteen point one grams per tonne gold from fifty-five metres, followed by four metres at five point three grams per tonne gold from thirty-one metres and three metres at one point seven grams per tonne gold from forty-four metres. The company states the drilling confirmed a new high-grade shoot beneath the historical workings, with mineralisation remaining open along strike and down dip. Shackle is located approximately five hundred metres north-northwest of the Cable deposit.
At Bollard, drilling beneath the historical open pit returned intercepts including fifteen metres at three point nine grams per tonne gold from one hundred and two metres, six metres at three point four grams per tonne gold from seventy-seven metres, nine metres at two point nine grams per tonne gold from thirty-five metres, and eight metres at two point four grams per tonne gold from one hundred and twenty-six metres. The company states these results improve confidence in its geological model and Mineral Resource Estimate and will be incorporated into an updated Mineral Resource Estimate for Bollard, which currently stands at zero point six eight million tonnes at two point one grams per tonne gold for forty-six thousand ounces.
The broader Tuckanarra Gold Project currently has a Mineral Resource of six point three million tonnes at two point two grams per tonne gold for four hundred and fifty-one thousand ounces. The company also states it has identified more than seventy priority exploration targets across the project.
Next steps include preparing a revised Mineral Resource Estimate for Bollard, incorporating the new drilling results into mining studies, undertaking step-out drilling at Shackle, continuing resource definition drilling at Bollard, assessing the connection between the Bollard, Cable and Highway deposits, and continuing to evaluate additional exploration targets across the Tuckanarra Gold Project.
In this episode, we break down the latest drilling results, the company's planned next steps, and what these developments mean for the ongoing advancement of the Tuckanarra Gold Project.
This podcast is for information purposes only. Nothing discussed constitutes financial advice. Always do your own research and consider your own financial circumstances before making any investment decision.