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Odyssey Gold Limited ( (AU:ODY) ) has issued an announcement.
Odyssey Gold has advanced field work and technical studies aimed at accelerating the Tuckanarra Gold Project towards production, including reverse circulation resource drilling at the Cable, Bollard and Maybelle deposits and a Scoping Study built around an updated Mineral Resource Estimate. The current Tuckanarra resource stands at 5.14 million tonnes at 2.5 grams per tonne for 407,000 ounces of gold, with most of the resource located on existing mining licences and within gazetted townsites, supporting a streamlined path to development.
The company has lodged a Native Vegetation Clearing Permit application, described as the last major long-lead approval needed to restart mining under an existing 2014 Mining Proposal, and continues talks with nearby processing plant owners to leverage regional capacity. Strong metallurgical drill results and a $9 million equity placement to institutional and sophisticated investors bolster both the technical case and funding base for progressing Tuckanarra, underscoring the project’s potential to move more rapidly towards production in the well-established Murchison gold district.
More about Odyssey Gold Limited
Odyssey Gold Limited is an Australian gold exploration and development company focused on its 80%-owned Tuckanarra Gold Project and associated Stakewell gold project in Western Australia’s Murchison Goldfields. The flagship Tuckanarra project sits in a prolific +35Moz gold district with access to more than 13 million tonnes per annum of active and potential processing capacity within a 250km radius.
Average Trading Volume: 6,562,686
Technical Sentiment Signal: Buy
Current Market Cap: A$50.86M
Learn more about ODY stock on TipRanks’ Stock Analysis page.