Orbminco Limited (OB1), a resource exploration company engaged in identifying and developing resource projects, today announced its withdrawal from the Bronze Fox Joint Venture in Mongolia. The company stated it will now concentrate its immediate exploration efforts and funding on the Majestic North Gold Project located in the Eastern Goldfields of Western Australia. The decision follows recent encouraging drill results at Majestic North which have demonstrated significant gold mineralisation exceeding 1g/t Au over a strike length of more than 1500 metres, with the mineralisation system remaining open to the north and south.
According to the announcement, OB1 is in the planning stages for its Stage 2 drill program at Majestic North. The program is expected to commence in the December quarter of 2025. The company believes that the Majestic North Gold Project holds considerable potential, justifying the shift in focus from the Mongolian joint venture.
The ASX announcement was approved and authorised for release by the board of Orbminco Limited. The company has advised that certain statements in the announcement may be forward-looking and subject to risks and uncertainties.
For further information, investors and interested parties are encouraged to contact Ian Gordon, Chairman of Orbminco Limited. The company’s exploration results are based on information compiled by Mr. Ralf Kriege, Managing Director of Orbminco Limited.
