Odyssey Gold Limited‘s (ASX: ODY) share price has continued to rise dramatically after news broke earlier this week that the explorer has found “significant” visible gold in a core taken from its maiden drill hole at the Bottle Dump deposit in Western Australia.
On Tuesday 4 May, the day of the announcement, the company’s share price rocketed by 83%, closing at A$0.14 per share. By the end of trading on Wednesday 5 May, Odyssey Gold’s share price was A$0.16 per share, up another 14.29%, and with a market cap of A$85.2M.
The core was taken from the site’s maiden drill hole, a 70m step-out in the eastern extension of the Bottle Dump deposit, part of Odyssey Gold’s Tuckanarra Project. Remarkably, the discovery was made during the first ever drilling activity in an untested area. The visible gold mineralization is associated with a nearby basal quartz vein system.
Matt Syme, Odyssey Gold’s executive director, said that the intersected gold confirms expectations that the Bottle Dump trend could host high-grade gold mineralization. “The potential extent of the bottle dump trend is up to 3km and the known gold mineralization is open to the east and west and at depth.
“Odyssey has consolidated some of the best gold exploration ground in the Western Australian Goldfields and we are looking forward to applying modern exploration techniques to uncover the area’s outstanding potential,” he said.
According to Odyssey Gold, the core has been sent to an assay lab in Perth for immediate testing.
