The All Ordinaries Index (ASX: XAO) is up 1.1%, with this fast-rising ASX All Ords gold stock outperforming again today.
The outshining gold miner in question is Gorilla Gold Mines Ltd (ASX: GG8).
Gorilla Gold shares closed on Friday trading for 37 cents. In late morning trade on Monday, shares are changing hands for 38 cents apiece, up 2.7%.
With the gold price trading fairly close to Friday's levels, currently at US$4,066.35 per ounce, the ASX All Ords gold stock looks to be catching tailwinds today following a promising exploration update.
Here's what's happening.
ASX All Ords gold stock lifts off
Investors are bidding up Gorilla Gold shares after the company reported positive results from metallurgical test work on samples from recent drilling at its Mulwarrie Project, located in Western Australia.
According to the release, the ASX All Ords gold stock achieved an average gold recovery of 93% across all samples by utilising a 106 micron grind, gravity recovery, and 48hr leach kinetics, at an average sample grade of 3.6 grams of gold per tonne (g/t Au).
Those results included a maximum recovery of 98.5% and an average gravity recovery of 44.5%.
And resource growth drilling has kicked off again, with Gorilla Hold deploying one reverse circulation (RC) rig and one diamond drill (DD) rig at Mulwarrie. The rigs will initially target along strike to the south and at depth near previous strong gold intercepts.
Gorilla Gold also has three rigs operating at its Comet Vale project, located 60 kilometres from Mulwarrie. That exploratory drilling is intended to underpin the next mineral resource estimate (MRE) update after the one already scheduled for December.
What did management say?
Commenting on the results boosting the ASX All Ords gold stock today, Gorilla Gold CEO Charles Hughes said, "We are delighted with these initial metallurgical test work results, which confirm the ability to achieve exceptional gold recoveries on mineralised samples from Mulwarrie using industry-standard gold milling processes."
Hughes added:
This is an important de-risking step for the Mulwarrie Project as we begin detailed study work to evaluate development options on the current Mineral Resource of 350,000 ounces at 3.6g/t Au. Further detailed metallurgical work is currently being planned and will be undertaken as part of the next stage of study work…
We see clear potential substantially expand the overall Mulwarrie MRE by the time of the next resource update next year whilst also significantly increasing the indicated component of the resource.
With today's intraday lift factored in, the Gorilla Gold share price is up 52.5% in 2025.
