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Highlights
- Expansion: Ordell Minerals acquires new tenements, nearly doubling its exploration area at the Goodia gold and lithium project.
- Acquisition Terms: The company will issue $40,000 in shares to Greatland Gold PLC at 32 cents per share.
- Exploration Plans: Fieldwork and reconnaissance drilling planned for 2025 to assess gold, lithium, and nickel potential.
Ordell Minerals (ASX:ORD) has significantly expanded its Goodia gold and lithium project near Norseman, Western Australia, through the acquisition of additional tenements. The move strengthens the company's exploration potential in a region it considers under-explored for gold.
The newly acquired tenements cover Archaean greenstone rocks extending approximately 16 strike kilometres and 180 square kilometres. This nearly doubles the project's strike length, opening new exploration opportunities for gold, lithium, and nickel.
As part of the deal, Ordell will issue $40,000 worth of shares to Greatland Gold PLC—or its nominee—at a price of 32 cents per share. The agreement also includes access to all relevant exploration data and a Heritage Agreement.
Exploration Plans for 2025
Ordell Minerals has outlined an ambitious exploration program for the Goodia project this year. The company plans to:
- Collect and analyze historical exploration data.
- Evaluate previous gold, lithium, and nickel exploration work.
- Conduct fieldwork, including geochemical sampling.
- Carry out reconnaissance aircore (AC) drilling to test anomalies identified through soil sampling.
The expansion at Goodia follows promising results from Ordell’s Barimaia project near Mount Magnet. Last month, the company reported encouraging drilling outcomes, highlighting the site's potential for open-pit mining.
Market Response
Ordell Minerals' shares last traded at 36 cents, with the company's market capitalization sitting just below $13 million.
