Odyssey Gold Limited (ASX:ODY) Commences Technical Study for Tuckanarra Project
Technical Study Initiated
Odyssey Gold Limited has commenced a Technical Study to assess mining and processing options for the high-grade, open pit resources at its Tuckanarra Gold Project. The study aims to evaluate the potential for processing the ore at the nearby Burnakura plant under a collaboration with Monument Murchison Pty Ltd.
Project Overview
The Tuckanarra Gold Project boasts Indicated and Inferred Mineral Resources of 5.14Mt @ 2.5g/t Au, yielding 407,000oz of gold. A significant portion of these resources is on granted Mining Leases, facilitating a faster track to production.
Processing Options
The study will explore various processing methods, including toll treating and joint ventures at the Burnakura plant, which is undergoing upgrades to a capacity of 750,000tpa. Initial focus will be on resources within Mining Leases, with additional scenarios for other deposits considered later.
Metallurgical and Environmental Considerations
Historical metallurgical testwork indicates high gold recovery rates, supporting a straightforward processing route. Environmental baseline studies are favorable, with no significant Native Title or heritage issues anticipated to impede mining activities.
Study Management
Goldfields Technical Services has been engaged to manage the Technical Study, bringing extensive experience in small gold mining operations in Western Australia. The study will inform discussions with Monument regarding the processing potential at Burnakura.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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