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Orbminco Limited (ASX:OB1)

ALERT: Price-sensitive ASX Announcement for OB1
Current share price for OB1 : $0.012 -0.002 (-14.29%)+
Announcement
Release
12 May 2026 9:40AM
Price at Release
$0.014
Full Release
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Summary
Orbminco Limited (ASX: OB1) is preparing to initiate a three-stage RC drilling program at its Majestic North Gold Project in late May 2026. The program, which aims to enhance the classification of Inferred Mineral Resource material to Indicated within a shallow optimised pit shell, will also test for potential extensions of higher-grade domains and assess the primary source of the supergene gold system in the Archean basement. Budgeted at A$280,000, the project is expected to provide results informing an updated Mineral Resource Estimate and future mining studies. The Majestic North Gold Project hosts a significant JORC (2012) Mineral Resource, with efforts underway to bring it into production.
Key Points
  • Orbminco Limited, listed as ASX: OB1, is set to commence a three-stage RC drilling program at its 100%-owned Majestic North Gold Project in late May 2026.
  • The drilling program aims to upgrade Inferred Mineral Resource material to Indicated classification within a shallow optimised pit shell by targeting high-grade zones.
  • The program will test four structural junctions controlling the higher-grade 2.4 g/t Au Mineral Resource to potentially extend the domain along its strike.
  • A key aspect of the drilling includes basement testing to identify the primary source of the supergene gold system within the Archean basement.
  • The budget for the drilling campaign is approximately A$280,000, covering drilling, rig support, assaying, and on-site management.
  • Results from the drilling are expected to inform an updated Mineral Resource Estimate and contribute to Stage 1 mining studies in the second half of 2026.
  • The Majestic North Gold Project hosts a JORC (2012) Mineral Resource of 1.38 Mt at 1.14 g/t Au for approximately 50,400 contained ounces.
  • The program includes a 10-hole, 540-metre vertical Resource Development infill program and a 17-hole angled program to test the structural junctions and deeper basement.
  • The announcement was authorised by the Board of Orbminco Limited and aims to bring the Majestic North Gold Project into production efficiently.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.