Odyssey advances Tuckanarra gold plans with strong mining study results

• ODY reports strong mining technical study supporting toll treatment for Tuckanarra
• Gold project sits in Murchison Goldfields surrounded by 7.5Mtpa processing capacity
• Company plans to now complete a resource update and scoping study

Special Report: Odyssey Gold says a mining technical study looking at processing ore from its Tuckanarra gold project at the nearby Burnakura processing plant provides strong support for project’s development pathway.

Tuckanarra hosts an indicated and inferred resource of 5.14 Mt at 2.5 g/t gold for 407 koz, including a high-grade subset of 2.25 Mt at 3.9 g/t for 283 koz above a 2.0 g/t cut-off.

Importantly, the project sits in the prolific Murchison Goldfields, which offers around 7.5Mtpa of processing capacity within 120km.

In April, Odyssey Gold (ASX:ODY) signed a Memorandum of Understanding for mill access and collaboration with its Tuckanarra project joint venture partner, Monument Murchison, to collaborate on studying options to process ore at Monument’s nearby Burnakura gold processing plant.

The Burnakura plant is currently on care and maintenance and is permitted and configured to process 260,000tpa.

The mining study has confirmed the viability of third-party processing for the Tuckanarra project at an expanded Burnakura plant, with Monument considering restarting the mill with options to upgrade the plant up to 750,000tpa capacity to allow processing of third-party’s ore in the area.

Resource upgrade and scoping study planned

The study supports the development of Tuckanarra based mostly on simple cutbacks of the historical open pits, as well as from the newly discovered Highway deposit (0.79 Mt at 3.8g/t for 97,000oz).

Odyssey will now continue infill drilling to upgrade current inferred resources before completing a scoping study.

“We are very pleased with the outcomes of GTS’s Study, which supports a model for an open pit mining operation at Tuckanarra,” executive director Matt Syme said.

“Simple, shallow mining, excellent grade, good metallurgy and very advantageous permitting are all strong advantages of the project.

“We will expedite discussions to find the best processing solution for Tuckanarra, while completing a scoping study and continuing to explore the many targets for additional resources.”

A reverse circulation drill rig will mobilise to site shortly to continue infill drilling at the Cable, Maybelle and Highway deposits, to generate additional indicated resources to support the scoping study, as well as to address additional exploration targets.

This article was developed in collaboration with Odyssey Gold, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.