Ordell Minerals Ltd. (ASX: ORD) came under the market spotlight after its shares surged approximately 13% in Friday’s session, driven by the release of robust gold drilling results from the McNabs East target at the Barimaia Gold Project in Western Australia. The latest assay results highlighted high-grade and near-surface mineralisation, reinforcing the project’s exploration potential.

High-Grade Gold Results Strengthen Barimaia Growth Story

Ordell reported very strong gold drilling results from its McNabs East target within the Barimaia Gold Project in Western Australia. Shallow, high-grade gold mineralisation confirmed, including bonanza grades indicating potentially valuable near-surface gold starting ~10 m below surface and open to expansion. Results show the project’s potential to grow the resource base with further drilling.

Separate coverage cited an extremely high bonanza gold grade (e.g., ~182 g/t Au in infill drilling at McNabs East), highlighting the standout nature of recent drill assays.

Is the ORD Uptrend Still Intact After the Breakout?

From a technical perspective, ORD has successfully held above its horizontal trendline breakout level, consolidating near its 52-week high. The recent breakout, accompanied by strong volume, signals sustained bullish momentum and suggests the rally could continue. Price action is receiving support from the horizontal trendline, which remains an active support zone. As long as ORD maintains above this key level, the bullish structure is expected to stay intact.

ORD continues to trade above its 21-period Simple Moving Average (SMA), highlighting near-term strength. The 14-period Relative Strength Index (RSI) sits at 72.75, above the midpoint, indicating sustained positive momentum and buying interest. On the upside, key resistance levels are positioned near AUD 0.980 and AUD 1.10, which may serve as critical supply zones for the stock.

Outlook: Bullish Bias as Drilling Catalysts Loom

Ordell Minerals Ltd. (ASX: ORD) remains under the spotlight after strong gold drilling results from its McNabs East target at the Barimaia Project in Western Australia. Technically, ORD is trading above its horizontal trendline and 21-period SMA, with the RSI at 72.75, indicating  bullish momentum. Consolidation near the 52-week high, along with key resistance at AUD 0.980 and AUD 1.10, suggests the rally could continue, with upcoming drilling updates acting as key catalysts.