What's Happening?
Odyssey Gold has commenced a 5,000-meter reverse circulation drilling program at the Tuckanarra Gold Project located in Western Australia. The focus of this program is on resource definition and extensional drilling at the Highway deposit. Additionally,
the program aims to further define the new Cable Hanging Wall vein, which was encountered in a previous drill program. The drilling is expected to be completed by the end of November 2025. This initiative follows Odyssey's announcement to proceed with a Scoping Study for the Tuckanarra Project, supported by a previously completed mining technical study that advocates for the development of an open pit.
Why It's Important?
The initiation of this drilling program is significant for Odyssey Gold as it represents a strategic step in advancing the Tuckanarra Gold Project. The project's location within the Murchison Goldfields, which includes an indicated and inferred resource of 5.14 million tonnes at 2.5 grams per tonne gold for 407,000 ounces of gold, underscores its potential economic impact. Successful drilling and subsequent resource definition could enhance the project's viability, potentially leading to increased investment and development in the region. This could benefit local economies and contribute to the broader mining sector in Australia.
What's Next?
Upon completion of the drilling program, Odyssey Gold plans to update mineral resource estimates and complete a Scoping Study. This study will provide a foundation for future development decisions, including the potential establishment of an open pit. The outcomes of these efforts could influence investment strategies and operational plans, impacting stakeholders such as investors, local communities, and the mining industry at large.
