Orbit Resources says its drill program at the Lewis Ponds project in New South Wales has hit a significant sulphide zone, with visual logging identifying 11.8 metres of massive and semi‑massive sulphides at the well‑known Tom’s Lode prospect.
The most notable interval included a 3.55‑metre section, visually estimated to be about 50% massive sulphide from a downhole depth of 255 metres. Massive sulphide bodies are important because they can concentrate base and precious metals, notably zinc, lead and copper, and often carry gold and silver credits.
The logged package also recorded 4.2 metres of approximately 25% semi‑massive sulphides immediately above the massive interval. Orbit cautioned that these are preliminary visual observations and that laboratory assays will determine the true metal content; core samples are being prepared with results expected in the December quarter.
“Drill hole 12 has intersected a substantial zone of visually identified semi‑massive to massive sulphides at Tom’s Lode, broadly where predicted by our geological model. While assays are pending, the intersections provide further confidence in our geological interpretation.”
Orbit’s diamond drilling campaign at Lewis Ponds is aimed at converting and de‑risking its existing resource base and generating material for metallurgical testwork that will feed economic studies. To date the company has completed three holes totalling 1,168.8 metres, and a final ~300‑metre hole is underway targeting Spicer’s Lode to the north of the deposit.
Lewis Ponds lies about 15 kilometres east of Orange in the prolific Lachlan Fold Belt. Orbit points to an already substantial resource at the project of 17.52 million tonnes grading 1.12 g/t gold, 53.34 g/t silver, 2.06% zinc, 1.10% lead and 0.14% copper, a package the company says equates to roughly 1.7 million ounces gold equivalent, including 630,000 ounces of gold and 30.1 million ounces of silver.
The deposit is interpreted as a volcanic‑hosted massive sulphide (VMS) system, with primary mineralisation extending over about 1,200 metres. The current drilling and forthcoming assays are intended to strengthen the geological model and supply core for metallurgical testwork that will underpin prefeasibility assessments.
Separately, Orbit has moved to streamline its portfolio by spinning out the Narraburra rare earths project into a new ASX vehicle, Matrix Critical Minerals. That IPO is seeking to raise up to $12 million, allowing Orbit to crystallise value from a promising but non‑core asset while concentrating on its gold, silver and base‑metals strategy in the Lachlan Fold.
Looking ahead, management will focus on completing the drill program, interpreting assay data when released in the December quarter, selecting core for metallurgical testwork and finishing analysis of high‑resolution drone magnetic data collected near the recent Cousin Jack discovery. The company says the fieldwork and lab work together will determine whether the logged sulphide intersections translate into a meaningful upgrade in contained metal and economic potential.
Orbit’s recent results provide encouraging visual confirmation of sulphide‑rich intervals at Tom’s Lode, but the definitive picture depends on the pending assays and metallurgical outcomes. If the laboratory data confirm strong grades and recoveries, the company will be better placed to progress prefeasibility studies and attract further investment into Lewis Ponds.
