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Orbit Resources Limited (ASX:OBT)

ALERT: Price-sensitive ASX Announcement for OBT
Current share price for OBT : $0.017 -0.002 (-10.53%)+
Announcement
Release
24 Aug 2026 8:06AM
Price at Release
$0.019
Full Release
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Summary
Orbit Resources Limited has announced the commencement of drilling operations at the Lewis Ponds project, located in the highly prospective Lachlan Fold Belt of New South Wales. The drilling aims to explore and evaluate significant mineral resources, including gold, silver, copper, and base metals. The recent drilling efforts include various drillholes such as GLPRCDD004 and GLPRCDD003, which targeted specific geological formations and anomalies. While some holes like GLPRCDD002 did not reach their intended targets, they provided valuable geological data for future exploration. The exploration strategy involves systematic advancement focused on resource growth and discovery, with plans for further geophysical surveys to refine exploration targets. The extraction process is supported by metallurgical studies, indicating favorable metal recovery rates for gold, silver, zinc, lead, and copper, which are crucial for the economic potential of the project.
Key Points
  • Drilling underway at Lewis Ponds project.
  • Focus on gold, silver, copper, and base metals.
  • Drillholes GLPRCDD004 and GLPRCDD003 provide geological insights.
  • GLPRCDD002 target not reached but provided valuable data.
  • Future exploration includes geophysical surveys.
  • Metallurgical studies support favorable metal recoveries.
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.