Odyssey Gold Limited: High-Grade Drilling Results From Bottle Dump Deposit
(firmenpresse) - Odyssey Gold Limited (ASX:ODY) (Odyssey or Company) is pleased to announce high-grade drilling results from the Bottle Dump deposit, in the Murchison Goldfields, Western Australia.
HIGHLIGHTS
Further assays confirm high-grade gold mineralisation at Bottle Dump
- Further significant mineralisation has been intersected in the eastern extension of Bottle Dump, with additional assays received confirming high-grade gold mineralisation.
- New intercepts include:
- 24m (at) 4.5g/t Au from 179m in TKRC0022 including 4m (at) 17.1 g/t Au; located 40m down-dip from
- 8m (at) 8.3g/t Au from 156m in TKRC0021 including 4m (at) 15.5 g/t Au
- These intercepts are interpreted to be related to the same contact position as the recently identified exceptional visible gold in TCKDD0003 (approximately 120m to the east-southeast).
https://www.irw-press.at/prcom/images/messages/2021/58757/210603-BottleDumpResults_FINAL2_kurzPRcom.001.png
Figure 1. Long-section of the Bottle Dump pit showing the open mineralisation and extensions.
- The Bottle Dump system remains open along trend and down-dip with 1,000m of prospective trend open to the east from TCKDD0003.
- Easternmost drilled reverse circulation (RC) hole (TCKRC0035 - assays pending) intersected the Bottle Dump Mine meta-sedimentary sequence, over 800m from the Bottle Dump pit
- Down hole electromagnetic (DHEM) survey crews scheduled to be mobilised at Bottle Dump next week to test for depth extensions to current mineralisation.
- Multiple further assays are pending and planning for the next phase of drilling is well advanced with re-mobilisation in coming weeks.
Executive Director, Matt Syme commented:
This is a very positive outcome as we continue to encounter high-grade gold mineralisation at Bottle Dump. Odyssey Gold has in a very short time since listing repeatedly confirmed the potential for high-grade mineralisation at the Tuckanarra and Stakewell Projects and the recent successful placement now provides us with sufficient funding to expedite and expand our exploration programs.
For further information, please contact: -
Matt Syme
Executive Director
Tel: +61 8 9322 6322
TUCKANARRA - BOTTLE DUMP DRILLING
The Company has completed 30 RC drill holes at Bottle Dump for a total of 5,894m with an average depth of 196m, followed by three diamond holes totalling 925m. Of the 30 RC holes drilled, all but two intersected the Bottle Dump Mine meta-sedimentary sequence (colloquially referred to as the Bottle Dump Mine BIF) unit and encountered strong pyrrhotite enrichment (from 2% to 50%). Previously elevated pyrrhotite occurrence (typically > 2% pyrrhotite) were generally associated with elevated gold grades.
Significant mineralisation has been intersected in the eastern extension of Bottle Dump, with new assays confirming high-grade gold mineralisation. These intercepts are interpreted to be related to the same contact position as the recent exceptional visible gold in TCKDD0003, approximately 120m to the east-southeast. The Bottle Dump system is interpreted to be open along trend and down-dip; with 1,000m of prospective trend open to the east from TCKDD0003. New intercepts include:
- 24m (at) 4.5g/t Au (TCKRC0022 from 179m) including 4m (at) 17.1 g/t Au;
- 8m (at) 8.3g/t Au (TCKRC0021 from 156m) including 4m (at) 15.5 g/t Au; and
- 5m (at) 4.1g/t Au (TCKRC0024 from 122m)
https://www.irw-press.at/prcom/images/messages/2021/58757/210603-BottleDumpResults_FINAL2_kurzPRcom.002.png
Figure 2. Cross-section from Bottle Dump showing the high-grade intercepts in TCKRC00021 & 22
Odyssey is planning future drilling to continue to target the eastern and depth extensions of the Bottle Dump Mine BIF as well as potential parallel lodes and structures.
https://www.irw-press.at/prcom/images/messages/2021/58757/210603-BottleDumpResults_FINAL2_kurzPRcom.003.jpeg
Figure 3. Planned and previous drill holes across the Bottle Dump area.
The eastern most hole in this drilling campaign, TCKRC0035, is interpreted to have intersected the Bottle Dump Mine BIF approximately 800m east of the Bottle Dump pit. Assays are pending for this hole, however a historical shallow hole in the vicinity, returned 8m (at) 3.5g/t Au.
Refer to Appendix 1 for all new assay results and one metre re-splits from previously announced four metre composites.
NEXT STEPS
Drilling activities are planned to re-commence in coming weeks to allow time for collation and interpretation of all drill assay results and for the completion of a number of field exploration programs. The Companys strong cash position as a result of the recent placement will allow the Company to expedite exploration activities.
The Companys exploration plans going forward will focus on:
- Detailed ground magnetics over the Bottle Dump trend and the newly discovered Blue Gino prospect at Stakewell.
- DHEM survey program to commence in coming weeks
- Ongoing mapping, soils and geophysics over priority target areas, including areas previously unexplored due to shallow cover.
- Continued modelling of the developing Bottle Dump Mine BIF unit.
- Development of new target regions over the combined tenement areas.
- A second RC and diamond drilling campaign, with targets generated from the above programs as well as results from the initial drilling program.
APPENDIX 1 - DRILL INTERCEPT TABLE
Hole ID TypeEastNorthRL Dip Az EOH From LengthAu
(m)(o) (o) Depth(m) (m) (g/t)
(m)
TCKRC002RC 611669998534-56.15.2 200 156 8 8.27
1 83 39 39
includ156 4 15.50
ing
TCKRC002RC 611669998534-61.19.1 240 179 24 4.54
2 77 26 25
includ195 4 17.12
ing
TCKRC002RC 611469999518-60.19.5 161 122 5 4.13
4 83 46 52
TCKRC002RC 611469999518-59.19.2 191 165 2 0.40
5 73 15 93
TCKRC002RC 611469999517-60.20.7 149 143 1 0.54
6 54 69 42
TCKRC002RC 611469999518-60.17.3 179 No significant
7 43 48 78 assays
TCKRC002RC 611669998529-60.22.0 159 Awaiting results
8 30 17 .2 63
TCKRC002RC 611369999517-60.21.6 233 Awaiting results
9 52 87 78
TCKRC003RC 608870013496-59.285.5167 Awaiting results
0 98 14 04
TCKRC003RC 608770017489-60.105.159 Awaiting results
1 42 78 18
TCKRC003RC 608870015492-60.281.695 Awaiting results
2 81 21 95
TCKRC003RC 608770017491-58.100.059 Awaiting results
3 88 63 28
TCKRC003RC 611769998520-60.14.3 223 Awaiting results
4 98 24 21
TCKRC003RC 612469996526-59.12.4 125 Awaiting results
5 15 44 6
TCKRC003RC 608870013492-59.278.5143 Awaiting results
6 91 55 27
TCKRCD00RCD 611569998524-59.20.3 324.2 Awaiting results
23 92 40 .8 99
One metre re-Splits of previously reported holes
TCKRC000RC 611569999523-61.22.2 150 132 5 1.80
2 97 14 61
includ142 4 0.59
ing
and 152 6 1.60
TCKRC000 6115 523-60.523.2226 156 15 0.72
3A 80 16
TCKRC000 6116 525-61.525.4148 99 17 2.12
4 17 17
includ100 6 4.48
ing
TCKRC000 6116 524-60.524.6251 132 10 1.09
5 09 34
COMPETENT PERSONS STATEMENT
The information in this announcement that relates to exploration results is based on information reviewed by Mr Neil Inwood of Sigma Resources Consulting, who is a consultant to Odyssey Gold Limited and is an accurate representation of the available data and information available relating to the reported historical exploration results. Mr Inwood is a Fellow of the Australian Institute of Mining and Metallurgy and is a holder of incentive options and shares in Odyssey Gold Limited. Mr Inwood has sufficient experience that is relevant to the styles of mineralisation and types of deposit under consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Based on the available information relating to the historical exploration results reported in this announcement, Mr Inwood consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.
The information in this announcement that relates to historical exploration results are extracted from the Companys ASX announcements dated 4 September 2020, 22 October 2020, 14 January 2021, 3 February 2021, 9 February 2021, 19 April 2021, 4 May 2021, 19 May 2021 and 26 May 2021. These announcements are available to view on the Companys website at www.odysseygold.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of estimates of Mineral Resources, Exploration Target or Ore Reserves that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons findings are presented have not been materially modified from the original market announcements; and that the information in the announcement relating to exploration results is based upon, and fairly represents the information and supporting documentation prepared by the named Competent Persons.
FORWARD LOOKING STATEMENTS
Statements regarding plans with respect to Odysseys project are forward-looking statements. There can be no assurance that the Companys plans for development of its projects will proceed as currently expected. These forward-looking statements are based on the Companys expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of the Company, which could cause actual results to differ materially from such statements. The Company makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.
This ASX Announcement has been approved in accordance with the Companys published continuous disclosure policy and authorised for release by the Companys Executive Director.
Please find the complete press release here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02381341-6A1035525?access_token=83ff96335c2d45a094df02a206a39ff4
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Datum: 03.06.2021 - 00:35 Uhr
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