Odyssey Gold (ASX:ODY) has reported an updated mineral resource estimate (MRE) for its Cable deposit, increasing the total resource at the Tuckanarra Project to 451,000 ounces.
The Cable deposit MRE now totals 2.75 million tonnes (Mt) @ 1.8 grams per tonne gold (Au) for 158,000 ounces, incorporating results from an additional 4,763m of drilling completed in 2025.
The updated estimate represents a 24% increase in tonnes, with 60% of the resource now classified as the indicated category ahead of a stage one Scoping Study.
Helena Consulting prepared the updated MRE in accordance with the JORC Code 2012 edition.
The project now contains a combined resource of 6.3Mt @ 2.2g/t Au for 451,000 ounces across all deposits, with 5.4Mt @ 2.1g/t Au for 354,000 ounces located on granted mining leases.
“Drilling has successfully upgraded and expanded the resource at Cable in advance of the Stage 1 Scoping Study on this pit. Drilling continues on the other resources to convert them to Indicated resources for inclusion in a broader Scoping Study on the project,” Director Matt Syme says.
“The company is making expeditious progress towards development with an updated native vegetation permit application submitted and geotechnical, metallurgical, [and] hydrological studies in progress.”
The Cable MRE comprises 1.65Mt @ 1.6g/t Au for 87,000 ounces in the indicated category and 1.09Mt @ 2.0g/t Au for 70,000 ounces in the inferred category.
The resource is reported above a 0.5g/t Au cut-off grade for material less than 180m below surface. Drilling results announced on 6 July 2026 are not included in this estimate but will be incorporated in a future update currently underway.
Tuckanarra is located in the Murchison Goldfields of Western Australia, within 200km of approximately 10Mt per annum of processing capacity. The project straddles the Great Northern Highway about 40km north of Cue.
Odyssey holds an 80% interest in the Tuckanarra and Stakewell gold projects, with Monument Mining (TSX-V:MMY) holding the remaining 20%.
Metallurgical test work completed in 2026 on a composite sample representing the Cable starter pit yielded 95.9% Au recovery after 24 hours at P80 106 microns. Gravity recovery was 18.8% with low cyanide consumption of 0.37kg/t.
Odyssey has submitted a native vegetation clearing permit application as part of preparations for mining activities. Surface and underground hydrological modelling is underway, with a water licence required for dewatering below the water table.
Write to France Pinzon at Mining.com.au
Images: Odyssey Gold
