Odyssey Gold Hits 16.1g/t Au on New Structure Outside Existing 451koz Resource
Key Takeaways
- Hole CBRC0451 intersected a brand-new high-grade structure not represented in any existing geological or resource model, returning 5m @ 16.1g/t Au from 30m, including 2m @ 36.7g/t Au — a result that expands the Cable West system beyond its previously understood boundaries.
- The same hole also hit the Cable West Hangingwall structure at depth, returning 9m @ 6.8g/t Au from 99m, including two 1m intervals grading 21.9g/t Au and 23.7g/t Au respectively.
- Infill drilling at the Argos lode has confirmed bedrock mineralisation beneath historical laterite gold, with results sufficient to assess upgrading existing Inferred ounces to the higher-confidence Indicated category in the next MRE update.
- The current Tuckanarra MRE stands at 451koz Au at 2.2g/t from 6.3Mt, published July 2026 — none of the new Cable West structures intersected in this programme are yet included in that figure.
- Results from 60 additional holes remain pending from the completed 20,000m programme, and Odyssey is actively reconsidering the timing of its Stage 1 Feasibility Study to incorporate Cable West expansion before committing to a mine plan.
High-grade gold confirmed as Odyssey expands Cable West beyond current resource
A completely new high-grade structure has been intersected at the Tuckanarra Gold Project in Western Australia, sitting outside the existing geological and resource model and signalling that the Cable West system is larger than previously understood. The standout hole, CBRC0451, returned 5m @ 16.1g/t Au from 30m, including 2m @ 36.7g/t Au, a result that had no prior representation in any geological or resource model at the project.
Odyssey Gold (ASX: ODY) reported results from 18 holes (1,367m) of reverse circulation (RC) drilling at Tuckanarra on 10 September 2026. The same hole, CBRC0451, also returned a second significant intercept targeting the Cable West Hangingwall structure: 9m @ 6.8g/t Au from 99m, including 1m @ 21.9g/t Au and 1m @ 23.7g/t Au. These results form part of the company’s recently completed 20,000m drilling programme, with results from a further 60 holes still pending.
When big ASX news breaks, our subscribers know first
What the drilling revealed — two lodes, one new discovery
Three distinct but connected findings emerged from this round of results, each adding a different dimension to the Cable West picture.
The prior Tuckanarra drilling results, published in August 2026, established the geological context that makes the new Cable West structures significant, showing how each successive programme has systematically extended the known mineralised footprint west of the main Cable deposit.
Argos lode — infill confirms upgrade potential
Argos is a lode west of the main Cable mineralisation where historical exploration had previously identified shallow, laterite-hosted gold. RC drilling has now confirmed bedrock mineralisation beneath that laterite, with tighter drill spacing and improved geological continuity that are expected to support assessment of whether all or part of the existing Inferred mineralisation can be upgraded to Indicated in the next Mineral Resource Estimate (MRE) update. Better results from Argos include:
- 5m @ 6.7g/t Au from 18m, including 2m @ 14.3g/t Au (CBRC0440)
- 7m @ 2.6g/t Au from 42m, including 1m @ 10.5g/t Au (CBRC0441)
- 4m @ 3.8g/t Au from 3m (CBRC0438)
CBRC0451 — a structure not in the model
This is the standout result of the programme. CBRC0451 intersected shallow high-grade gold on a new structure that is not represented in the existing geological or resource model, and which lies within the Scoping Study pit design. This is a completely separate finding from the Hangingwall structure intercept returned deeper in the same hole.
To be clear on both intercepts from CBRC0451:
- New structure (shallow): 5m @ 16.1g/t Au from 30m, including 2m @ 36.7g/t Au
- Cable West Hangingwall structure (deeper, same hole): 9m @ 6.8g/t Au from 99m, including 1m @ 21.9g/t Au and 1m @ 23.7g/t Au
Other Cable West results supporting the broader interpretation include 11m @ 2.4g/t Au from 72m in CBRC0313, along with 1m @ 17.2g/t Au from 88m and 4m @ 2.1g/t Au from 101m in CBRC0450.
Executive Director Matt Syme provided this commentary on the results:
Matt Syme, Executive Director
“As we step out west of Cable, we are identifying multiple parallel lodes not currently in the Mineral Resource Estimate. Argos is now substantially better defined and CBRC0451 has intersected a completely new high-grade structure…
We are still early in understanding the full scale of this western system. Our priority is to follow these lodes along strike and down dip so the additional mineralisation can be incorporated into Mineral Resources and mine planning. Numerous additional targets remain to be tested for shallow mineralisation west of Cable, over a target area approximately 3km long by 1km wide.”
Understanding the Cable West system — why multiple lodes matter
For investors newer to gold exploration, here is what the Cable West findings actually mean in practice.
What is a Mineral Resource Estimate? An MRE is the official, independently verified count of how many ounces of gold a company has in the ground, stated at a given confidence level. Any mineralised structure that sits outside the boundaries of the current MRE does not count toward that official ounce figure — yet. When new structures are drilled, modelled, and sufficiently understood, they can be incorporated into a future MRE update and grow the total resource base.
What do Inferred and Indicated mean? These are confidence categories within an MRE. Inferred is the lower confidence level — the mineralisation is there, but less drilling means less certainty about its geometry and grade continuity. Indicated is the higher confidence level, supported by tighter drill spacing and better-defined geology. Upgrading from Inferred to Indicated matters because mine planners and financiers place greater weight on Indicated ounces when evaluating a project’s economic potential.
Why does a multi-lode system matter? Rather than a single deposit with fixed boundaries, Odyssey is finding a series of sub-parallel mineralised lodes extending west of the main Cable structure. Each new lode confirmed adds ounces that could eventually be incorporated into the MRE. The Tuckanarra Breaks model — a structural geological framework that identifies where high-grade shoots are expected to develop where folded ferruginous sedimentary units intersect southwest-striking cross-faults — gives Odyssey a systematic, repeatable targeting framework for finding more of them. This is not drill-and-hope exploration; it is a defined geological methodology applied to a large inventory of untested targets.
The next major ASX story will hit our subscribers first
Resource base and what comes next
Where the MRE stands today
The Tuckanarra Project’s current MRE, published in July 2026, stands at a grand total of 6.3Mt @ 2.2g/t Au for 451koz Au. The deposit-level breakdown is shown below.
| Deposit | Category | Tonnes (Mt) | Grade (g/t Au) | Ounces (koz) |
|---|---|---|---|---|
| Anchor | Inferred | 0.09 | 2.6 | 7 |
| Bottle Dump | Indicated | 0.15 | 3.4 | 17 |
| Bottle Dump | Inferred | 0.76 | 2.2 | 54 |
| Bottle Dump Total | 0.91 | 2.4 | 70 | |
| Bollard | Indicated | 0.15 | 1.9 | 9 |
| Bollard | Inferred | 0.53 | 2.2 | 37 |
| Bollard Total | 0.68 | 2.1 | 46 | |
| Cable | Indicated | 1.65 | 1.6 | 87 |
| Cable | Inferred | 1.09 | 2.0 | 70 |
| Cable Total | 2.75 | 1.8 | 158 | |
| Highway | Inferred (Pit) | 0.44 | 2.3 | 32 |
| Highway | Inferred (UG) | 0.35 | 5.8 | 65 |
| Highway Total | 0.79 | 3.8 | 97 | |
| Kohinoor | Inferred (Pit) | 0.16 | 2.4 | 12 |
| Kohinoor | Inferred (UG) | 0.03 | 9.1 | 9 |
| Kohinoor Total | 0.19 | 3.5 | 22 | |
| Lucknow | Inferred | 0.22 | 1.3 | 9 |
| Maybelle | Indicated | 0.09 | 2.3 | 7 |
| Maybelle | Inferred | 0.57 | 1.8 | 34 |
| Maybelle Total | 0.66 | 1.9 | 41 | |
| Grand Total — Indicated | 2.1 | 1.8 | 120 | |
| Grand Total — Inferred | 4.3 | 2.4 | 330 | |
| Grand Total | 6.3 | 2.2 | 451 |
Source: Tuckanarra Project July 2026 MRE. Totals may not add due to rounding. Resources reported on a 100% project basis.
Next steps and feasibility timing
Odyssey’s stated forward priorities, as outlined in the announcement, are:
- Integrate the new drilling results into updated geological and resource models.
- Undertake follow-up drilling to step further west, along strike and down dip, across a target area approximately 3km long by 1km wide.
- Test the continuity of the Argos and Cable West lodes, including the East Lynne Target, which features historical workings extending over approximately 600m of strike with no previous drilling beneath them.
- Consider the timing of the Stage 1 Feasibility Study so that these results, and the follow-up drilling programme, can be incorporated into resource and mine planning work.
The feasibility study timing is actively being reconsidered to capture the upside from Cable West expansion. That signals management is prioritising getting the resource picture right before committing to a mine plan. With 60 holes still pending from the recently completed 20,000m programme, there is a meaningful near-term catalyst pipeline ahead for investors watching this story develop.
Don’t Miss the Next ASX Gold Discovery
Get FREE breaking ASX gold news delivered to your inbox within minutes of release, complete with in-depth analysis already done for you. Join 30,000+ subscribers who stay ahead of the market the moment announcements hit. Click the “Free Alerts” button at Discovery Alert to start receiving real-time alerts on ASX gold and mining stocks today.