ODY Resumes Drilling High Grade U/ G shoots My View....They are confirming the grades of these dipping high grade veins below 200 m which will be the final piece in WestGolds plans for a takeover offer.
Plus the HW Zone offers a quick doubling of the Resource level..
So WestGold motivated..
DIAMOND DRILLING TO TARGET HIGHWAY HIGH-GRADE ZONE OUTSIDE EXISTING RESOURCE
Odyssey Gold Limited (ASX:ODY) (“Odyssey” or “Company”) is pleased to announce that diamond drilling (“DD”) has commenced into the high-grade mineralised shoot at Highway Zone on the Company’s Tuckanarra Project in the Murchison Goldfields of Western Australia.
HIGHLIGHTS
• Drilling commenced for an initial three hole, 1,100m DD program to test the depth extension of the high-grade Highway Zone shoot.
• Drilling is designed to intersect structure up to 200m below previous drilling and 400m below surface representing a significant extension to mineralisation.
• All holes will be drilled outside Odyssey’s maiden MREi of 5.32Mt for 376koz at 2.2g/t Au (cutoff >0.9g/t and less than 180m below surface).
• Previous RC drilling identified a compelling high-grade shoot, open at depth – indicating strong potential to add high-grade underground ounces to the resource model.
• Previous high-grade fresh rock results include:
11m @ 7.8g/t Au from 199m incl. 6m @ 13.8g/t Au (CBRC0056)ii 12m @ 6.5g/t Au from 132m (TCKRC0100)iii
11m @ 8.4g/t Au from 133m incl. 6m @ 13.9g/t Au (CBRC0152)iv 11m @ 4.3g/t Au from 141m incl. 2m @ 21.6g/t Au (CBRC0141)v
• Highway Zone is one of several high-grade targets within the Tuckanarra Project that provides scope for potential resource expansion.
• Odyssey remains well funded with $2.9M cash at the end of the June Quarter. Commenting on this new phase of diamond drilling at Highway Zone, Managing Director, Matt
Briggs said:
“We look to continue to build momentum at the Tuckanarra Gold Project as we commence this next phase of diamond drilling. This closely follows the recent reporting of our robust open pit resource of 5.32Mt @ 2.2g/t Au.
“Most of the drilling completed to date at Tuckanarra has focussed on the delineation of shallow oxide open pit resources.
Importantly, high-grade drill intersections extend below conceptual pit optimisations, however these have not yet been drilled to a scale to allow the declaration of underground resources.
The Highway Zone has the longest strike length of 350m of mineralisation and is the first target to be drilled. The Highway Zone benefits by having predictable wide intersections containing high-grade intervals.
“Targeted drilling down plunge on the high-grade shoots has the potential to rapidly add high grade ounces to an underground resource on the mining lease.
The three holes are planned to intersect the structure up to 400m below surface, 200m below previous drilling. We are optimistic about the potential for this round of drilling and look forward to providing updates on our progres