AI image of gold dust
Source: Adobe Stock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Ordell Minerals Ltd (ASX:ORD) has intercepted shallow and high-grade gold – including up to 47.5 grams per tonne (g/t) – at its Barimaia gold project in Western Australia.

The results were yielded from a second phase of shallow reverse circulation (RC) drilling targeting the McNabs East prospect, with one hole recording 29 metres at 2.52g/t from 81 metres, including one metre at 47.5g/t from 107m (visible gold present).

Another picked up four metres at 9.62g/t from 59 metres, including one metres at 32.7g/t from 60 metres.

The drilling work means Ordell has been able to define an extensive zone of gold mineralisation at the prospect, with this occurring at shallow depths and over a strike length of more than 1,000 metres (while also being open along strike and untested at depth).

Ordell is also inspired by the fact mineralisation here appears to suggest an Eridanus-type deposit, being associated with an interpreted granodiorite intrusion.

Managing director Michael Fowler said he was pleased with the evidence of high-grade gold at the project.

“Our second drill program at Barimaia has delivered some great results, with wide zones of shallow gold mineralisation intersected within the targeted felsic intrusion host rock,” he said.

“Importantly, a number of high-grade gold results were returned from the program which are open at depth and along strike.

“This shows the potential of the mineralised system, which is beginning to take shape, pointing to significant future growth opportunities as our drilling programs advance.”

Ordell shares rose on the news, and at 10:28 AEDT, they were trading at 25.5 cents – a rise of 15.91% since the market opened.

Join the discussion: See what HotCopper users are saying about Ordell and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

ORD by the numbers
More From The Market Online
Aussie cash

Cyprium to net A$9M from sale of surplus generators at Nifty copper mine, WA

Cyprium Metals (ASX:CYM) has come out of left field with a quick bit of cash on…
Blockchain concept

Fatfish raising cash to accelerate blockchain and gaming asset development

Fatfish Group (ASX:FFG) has announced its launch of a placement to accelerate development of 'blockchain and…
Woodside HQ in Texas

HotCopper users react as Pancontinental Energy’s trading halt lift reveals little

Pancontinental has lifted a trading halt to reveal its hotly awaited potential deal with Woodside is...still…