Odyssey Gold (ASX:ODY) launched an expansive 2026 work program at its flagship Tuckanarra Gold Project, fueled by a $9 million capital placement.
The company is mobilising reverse circulation and diamond drill rigs to finalise resource definitions at the Cable, Bollard, and Maybelle deposits while testing high-value shallow exploration targets.
The technical push aims to generate critical geotechnical and metallurgical data to transition the project toward active production.
Central to this development is a scoping study currently being conducted by Goldfields Technical Services.
Building on a supportive 2025 mining technical study, the new evaluation will include an updated mineral resource estimate.
The project's current MRE stands at 5.14Mt @ 2.5g/t for 407,000 ounces of gold; however, the upcoming program specifically targets the conversion of "inferred" resources into the "indicated" category to bolster the study's economic reliability.
A 2014 mining proposal provides an expedited permitting pathway for established pits.
While the company awaits a mining lease for the Highway and Bottle Dump deposits, it is actively negotiating with regional processing plants.
At the time of reporting, Odyssey Gold's share price was $0.030.