- Odyssey Gold (ODY) gets last batch of results from drilling at the Cable and Bollard deposits which are part of the Tuckanarra Project in Western Australia
- All seven holes intercepted gold mineralisation and returned very high grades which peak at 34.2g/t gold over four metres
- Odyssey believes these results indicate there’s two banded iron formations (BIFs) that host gold mineralisation between the Cable and Bollard pits
- The gold company plans to conduct phase two drilling to follow up on these results and the parallel BIF trends
- Company shares are down 5.15 per cent and trading at 9.2 cents
Odyssey Gold (ODY) has received encouraging results from drilling at the Cable and Bollard deposits within the Tuckanarra Project in Western Australia.
The company completed a maiden drilling program at the project in late May. This program focused on the Bottle Dump, Cable and Bollard deposits and targeted down-plunge and extensional areas along trend of existing mineralisation.
Today’s results account for the final seven out of 17 holes drilled along the Cable-Bollard trend.
Positively for the company, all seven holes intercepted gold mineralisation and returned very high grades.
Best assays include 16 metres at 10 grams of gold per tonne (g/t) from 112 metres including four metres at 34.2g/t gold from 112 metres, nine metres at 2.2g/t gold from 117 metres and eight metres at 4.4g/t gold from eight metres.
Odyssey believes these results demonstrate the presence of two discrete banded iron formations (BIFs) that host significant gold mineralisation between the Cable and Bollard pits.
Executive Director, Matt Syme, commented on the results.
“These highly encouraging results further strengthen the compelling potential of the Cable-Bollard Trend at Odyssey’s Tuckanarra Project. The potential strike of two or more parallel BIFs between Cable and Bollard is over 700 metres, a similar scale to the Bottle Dump deposit across the highway.”
Both BIF units remain open to the north and south, and at depth.
Odyssey Gold plans to conduct phase two drilling to follow up on these results and the parallel BIF trends.
Company shares were down 5.15 per cent and trading at 9.2 cents at 3:06 pm AEST.