Nov 4, 2024

Ordell Minerals Hits 29m @ 2.52g/t Au at Barimaia Gold Project, Western Australia

Introduction:

Ordell Minerals Limited (ASX: ORD) has reported significant gold intercepts from its Phase 2 shallow Reverse Circulation (RC) drilling program at the McNabs East Prospect within the Barimaia Gold Project in Western Australia, highlighted by 29m at 2.52g/t Au from 81m including 1m at 47.5g/t Au.

Drill Results:

29m @ 2.52g/t Au from 81m (including 1m @ 47.5g/t Au from 107m with visible gold) (24BARC083)
4m @ 9.62g/t Au from 59m (including 1m @ 32.7g/t Au from 60m) (24BARC102)
25m @ 1.50g/t Au from 56m (24BARC087)
5m @ 4.61g/t Au from 61m (including 1m @ 19.6g/t Au from 64m) (24BARC104)
16m @ 1.23g/t Au from 5m (24BARC103)
15m @ 1.24g/t Au from 30m (24BARC079)

Project Overview:

The Barimaia Gold Project is located near Mount Magnet in the Murchison region of Western Australia, a Tier-1 mining jurisdiction. The project area covers an extensive zone of gold mineralization now defined at McNabs East over a strike length of +1,000m at shallow depths (typically <80m vertical), remaining open along strike and untested at depth.

Barimaia is situated in close proximity to several gold processing plants, including Ramelius Resources' Mt Magnet mill, Spartan Resources' Dalgaranga mill (70km away), and Westgold Resources' Tuckabianna mill (80km away). The project's geology and mineralization style show similarities to Ramelius Resources' nearby Eridanus deposit, which hosts a current Mineral Resource Estimate of 21Mt @ 1.7g/t Au for 1,200,000oz of contained gold.

Program Details:

The Phase 2 drilling program comprised 29 holes (24BARC076 to 24BARC104) for 2,588m of RC drilling. Holes were drilled on ~100m-spaced sections to continue first-pass testing of the Barimaia felsic intrusion. The program targeted an interpreted granodiorite intrusion, which is considered highly encouraging for Eridanus-style deposits. Mineralization is associated with variably foliated and altered zones containing disseminated pyrite and quartz veining.

Understanding These Results:

The results confirm shallow, open pit potential at Barimaia, with coherent zones of gold mineralization being defined within an extensive gold system. High-grade intercepts, such as 1m @ 47.5g/t Au and 1m @ 32.7g/t Au, indicate the presence of significant gold concentrations within the broader mineralized envelope.

The identification of an interpreted granodiorite intrusion adjacent to porphyritic felsic units is considered highly significant, as it indicates similar geology to the nearby Eridanus deposit. The mineralization remains open along strike and at depth, suggesting potential for resource growth with further drilling.

Management Commentary:

Michael Fowler, Managing Director of Ordell Minerals:

“Our second drill program at Barimaia has delivered some great results, with wide zones of shallow gold mineralisation intersected within the targeted felsic intrusion host rock. Importantly, a number of highgrade gold results were returned from the program which are open at depth and along strike.

“This shows the potential of the mineralised system, which is beginning to take shape, pointing to significant future growth opportunities as our drilling programs advance. “We have now completed over 5,000m since we listed on the ASX in July, with the results from this drilling showing clear potential for shallow open pits at Barimaia.

“Our next step is to complete a diamond drilling program in November to help confirm the orientation, lithologies and geometry of the significant mineralisation centred on section 585,550E. This drilling will be followed up by further extensional and in-fill drilling in the coming months.”

Next Steps & Catalysts:

Ordell plans to commence diamond drilling in November to obtain structural and lithological data at McNabs East. This will help confirm the orientation, lithologies, and geometry of the significant mineralization centered on section 585,550E.

Following the diamond drilling, the company plans to conduct extensional and in-fill RC drilling in the March 2025 Quarter. Additional exploration will include first-pass RC drilling in untested areas, particularly east of 586,300E, and air-core drilling further to the east and north of the currently defined mineralization at the McNabs Prospect.

Commodity Outlook:

Gold continues to maintain its status as a safe-haven asset. The Murchison region of Western Australia represents a premier gold mining jurisdiction with established infrastructure and a supportive regulatory environment for resource development. The proximity of Barimaia to existing processing facilities enhances its potential economic viability.

Conclusion:

The latest results from Barimaia demonstrate significant potential for shallow open pit resources, with high-grade intercepts indicating the possibility of higher-grade zones within the broader mineralized system. With mineralization remaining open along strike and at depth, and multiple targets still to be tested, the project continues to show characteristics of a promising gold system with substantial growth potential.

Sources:

ORD Drill Results Announcement

Additional Figures:

Australia

ASX

Lithium

Nov 12, 2024