Orbit Resources (ASX:OBT): Partner-Funded Drilling Tests Goodrich Porphyry

Aditi Sarkar

11 November 2026 10:52 PM AEDT

Orbit Resources (ASX:OBT): Partner-Funded Drilling Tests Goodrich Porphyry

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Highlights

Orbit confirmed another stage of diamond drilling at Goodrich on 11 November 2026.
Great Plains Metals is funding the work under a project earn-in arrangement.
The programme is testing lateral and down-dip extensions of the interpreted porphyry.
Results will inform geological interpretation; they do not establish a new resource.

Orbit Resources Limited (ASX:OBT), previously named Godolphin Resources, explores for gold, silver and base metals in New South Wales. On 11 November 2026, the company announced a further phase of diamond drilling at the Goodrich Porphyry Prospect within its Yeoval and Goodrich project. Earn-in partner Great Plains Metals is funding the programme, while Orbit remains the operator. The drilling is intended to test the dimensions of a previously identified copper-gold-molybdenum system.

Goodrich Drilling Objectives

Orbit Resources Limited (ASX:OBT) said follow-up diamond drilling had commenced at Goodrich in central-west New South Wales. The programme tests the lateral and down-dip extension of an interpreted monzonite porphyry, along with possible links to shallower historical mineralisation near the Goodrich open pit. These are geological objectives rather than established extensions of a mineral resource.

The planned holes were selected to improve the picture of the system’s size and geometry. Core will be logged, sampled and submitted for laboratory analysis. Until those assays and geological interpretations are complete, the scale and continuity of mineralisation remain uncertain.

Earlier Pencil Porphyry Intersection

Orbit Resources Limited (ASX:OBT) previously disclosed copper, gold and molybdenum mineralisation associated with what it calls the Pencil Porphyry. This earlier discovery provided the basis for renewed testing at Goodrich. Drill intersections help identify mineralised zones but must be interpreted with structural observations and additional holes before conclusions can be drawn about a deposit’s geometry.

The current work is designed to compare mineralisation between previous drilling points and possible extensions beneath existing intercepts. A broad mineralised interval is not equivalent to an economic orebody. Grade distribution, true widths, continuity and metallurgical characteristics would need further investigation before any development assessment.

Great Plains Earn-In Arrangement

The project is subject to an earn-in agreement with Great Plains Metals. Orbit Resources Limited (ASX:OBT) has disclosed that Great Plains secured an initial majority interest and may increase its stake by meeting additional exploration commitments. During this phase, the partner funds exploration while Orbit continues as operator.

This structure reduces Orbit’s direct cash outlay on the specified programme but also involves a potential reduction in its ownership percentage. The consequences depend on whether the partner completes the required spending and drilling. An earn-in is not the same as an outright sale of the project or proof that commercially viable resources have been discovered.

Broader Portfolio and Next Steps

Orbit Resources Limited (ASX:OBT) also identifies Lewis Ponds as an important gold-silver and base metals project within its New South Wales portfolio. It maintains exposure to several exploration Assets across the Lachlan Fold Belt. This means the Goodrich programme is one part of its broader technical workload rather than the sole determinant of its Business position.

The company expects results from the Goodrich work to assist in planning future drilling. The interpretation could change as new assays arrive. Geological uncertainty, laboratory timing, funding arrangements and any subsequent permitting requirements remain material factors. No production decision follows from the announcement of the partner-funded drilling programme.

Key Insights

Orbit has commenced further drilling at Goodrich with its earn-in partner meeting the programme’s exploration costs. The work may clarify the geometry of the interpreted porphyry, but the project remains subject to assay, geological and commercial uncertainty. Completion of the earn-in would also change Orbit’s ownership interest.

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