Huge Huge News… ODY maiden Resource 376,000 ounces !,,,I knew it was a large discovery but hardly figured it would hit 376,000 ounces this early.
Equally signifucant is that 300,000 is excellent grade low cost open pit..
And..huge exploration upside that could takeTuvkanara to 1 million ounces.
Get ready for Resumption of mining..
Odyssey’s Maiden Shallow Mineral Resource of 376koz at 2.2g/t Au at Tuckanarra Gold Project
High-grade open-pit resource in the heart of the Murchison Gold District provides platform for future growth
HIGHLIGHTS
Maiden Tuckanarra Project Mineral Resource estimate (MRE) totals 5.32Mt @ 2.2g/t Au for 376koz (above a 0.9-2.0g/t Au cut off)
MRE prepared by Independent Competent Persons, Snowden Optiro, BMGS, International Resource Solutions, in accordance with JORC principles and guidelines (2012 Edition)
MRE is based on substantial database of over 82,000m of drilling
High-grade subset of mineralisation of 2.13Mt @ 3.5g/t for 238koz above a 2g/t cut off grade
3.4Mt @ 2.2g/t for 240koz on granted mining leases
Substantial resources starting at surface and remain open down plunge including at the recently discovered Highway Zone
Recent drilling at Highway Zone has highlighted future underground potential with a high-grade shoot intersected over 150m of strike including results of 11m @ 7.8g/t Au and 12m @ 6.5m g/t Au
Reported MRE only occupies a small portion of the Tuckanarra Project tenement package – clear potential for substantial Mineral Resource growth through near-resource and regional drilling
Odyssey Gold Limited (“Odyssey Gold” or “Company”) (ASX:ODY) is pleased to announce that the maiden JORC 2012 resource has been completed for the Company’s Tuckanarra Project in the Murchison Goldfields of Western Australia which is held in Joint Venture with Monument Mining and Diversified Asset Holdings.
The MRE amounts to 5.32 million tonnes at 2.2 g/t Au for a total 376,000 ounces of gold. This MRE is based on a total of 5,212m aircore, 15,780m diamond core and 61,150m RC drilling.
The MRE is reported above 0.9 g/t Au cut off grade less than 140-180m below surface and above 2g/t Au cut off grade more than 180m below surface. The MRE includes Indicated Mineral Resources (~16% of the Resource gold ounces) as well as Inferred category material.
Table 1 - Summary Gold Mineral Resource tabulation for the Tuckanarra Project – July 2023
Resource
Open Pit
Total Open Pit Underground Total
Resource Category
Inferred Indicated
Inferred
Total I&I Resource
Tonnes Grade (Mt) (g/t Au)
4.50 2.1 0.79 2.4 5.29 2.2 0.03 9.1 5.32 2.2
Metal (koz Au)
305 62 366 9 376
Resources are reported above 0.9 g/t Au and less than ~140-180m vertical below surface except Kohinoor underground reported above 2g/t Au. Minor discrepancies may occur due to rounding to appropriate significant figures. Resources are reported on a 100% project basis.
Commenting on the major milestone for Odyssey Gold, Managing Director, Matt Briggs said:
“We are pleased to have delivered this significant milestone for Odyssey Gold, an achievement that reflects the success of our targeted drilling programs at Tuckanarra over the past 18 months. This maiden resource is a significant step forward as it provides a very high-quality gold resource in the heart of the Murchison Gold district surrounded by 7.5Mtpa of processing capacity.
It is uncommon to find an open-pit resource averaging over 2g/t Au in a district such as the Murchison that is not in production, so we believe this resource has significant value and puts Odyssey Gold in a very good position. Tuckanarra is known for its high-grade oxide mineralisation and this resource clearly supports this theme.
This resource is focused on reporting the open pit mineralisation at Tuckanarra which includes a combination of very shallow laterite, thick oxide and high-grade shoots extending to depth.
The considerable drilling that has gone into delivering this maiden resource can now be built upon to better define the high-grade mineralisation at depth, which will add to the underground potential of the Project. Recent drilling at Highway Zone has clearly demonstrated strong future underground potential with a high-grade shoot intersected over 150m of strike including results of 11m @ 7.8g/t Au and 12m @ 6.5m g/t gold.
Odyssey will continue to systematically unlock the value and true potential of this asset through further targeted drilling programs as we aim to build on this very solid foundation.”.
This announcement has been authorized and approved for release by the Board.
Investor Enquiries
Matt Briggs
Managing Director
info@odysseygold.com.au
Media Enquiries
Sam Burns
Six Degrees Investor Relations 0400 164 067
Figure 1 - Shallow oxide gold m