Orbminco Limited (ASX: OB1) today provided a comprehensive development update for its wholly owned Majestic North Gold Project, located approximately 65 kilometres southeast of Kalgoorlie in Western Australia’s Eastern Goldfields. Orbminco Limited is an Australian exploration and development company focused on advancing its 100% owned Majestic North Gold Project. The Project hosts a JORC (2012) Mineral Resource of 1.38 Mt at 1.14 g/t Au for approximately 50,300 contained ounces. A major milestone has been reached, with all on-ground field work now completed at Majestic North.
The extensive fieldwork conducted since July included resource definition and sterilisation drilling, installation of hydrogeological monitoring bores, and baseline environmental surveys. Geotechnical, hydrogeological, and environmental studies have been finalised, confirming that the mineralisation is free milling and gold is recoverable by conventional cyanide leaching. With these technical aspects complete, Orbminco’s immediate focus is securing ore sale agreements with operating mill owners, which will be crucial for the final investment decision and the submission of the Mining Development and Closure Proposal (MDCP).
The company has also refined its first-stage mine plan, redesigning it to lower peak funding requirements while retaining production optionality across the broader Mineral Resource. This optimised Stage 1 plan now comprises three open pits within the shallow, higher-grade domain of the granted Mining Lease M25/369. These pits are intended to be mined from east to west, with extracted material sold directly to an operating mill owner, circumventing the need for an onsite processing plant. Orbminco Chairman Duncan Gordon emphasised the delivery of a fundable, value-accretive mine plan built around smaller pits to minimise funding needs.
Orbminco outlined that the remaining critical steps involve finalising these ore sale arrangements, completing final desktop optimisation, securing project financing, and obtaining necessary approvals. The successful conclusion of these workstreams is expected to significantly de-risk the project, paving the way for the Final Investment Decision and the lodgement of the MDCP.
