The All Ordinaries Index (ASX: XAO) is down 0.6% today, but don't blame this rocketing ASX All Ords gold share.
The surging stock in question is Gorilla Gold Mines Ltd (ASX: GG8).
Gorilla Gold shares closed on Friday trading for 47 cents. In early morning trade on Monday, shares are changing hands for 49.5 apiece, up 5.3%. The Gorilla Gold share price is now up 136% since the 12 February close, when you could have picked up shares for just 21 cents apiece.
Today's outperformance follows news of a major mineral resource upgrade at the miner's 100%-owned Comet Vale Gold Project, located in Western Australia.
Here's what's grabbing investor interest.
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ASX All Ords gold share leaps on resource boost
Investors are bidding up the Gorilla Gold share price after the miner reported a 900% increase in the previously estimated mineral resource for Comet Vale to 860,000 ounces of contained gold (7.3 Mt at 3.7g/t Au).
The ASX All Ords gold shares noted that it delivered the additional ounces of gold at a discovery cost of around $25 per ounce.
The indicated component of the Comet Vale mineral resource estimate now totals 1.7 Mt at 4.1g/t Au for 220,000 ounces of gold.
Comet Vale has seen historical gold production of more than 200,000 ounces at 20g/t Au. Underground operations were running at the project until 2020.
The ASX All Ords gold share made a high-grade gold discovery at the nearby Lakeview Prospect in February 2025, with the miner noting new extensional lodes were also discovered at Cheer and Sovereign in January 2025.
Gorilla noted "clear potential" for additional increases in the gold resource base at Comet Vale. Three drill rigs are currently operating at the site.
What did management say?
Commenting on the resource upgrade helping to lift the ASX All Ords gold share today, Gorilla Gold CEO Charles Hughes said, "The Comet Vale Project is rapidly emerging as a camp-scale gold development project, with this resource update incorporating the three new, high-grade discoveries that Gorilla has made within the project area over the past year."
Hughes added:
This update to the Comet Vale Resource comes hard on the heels of the delivery of a maiden mineral resource for the Vivien Project in April 2025 and an updated resource for Mulwarrie in August 2025, capping off what has been an exceptionally busy year of drilling for the company.
As a result of this upgrade, Gorilla now collectively holds 1.5 million ounces of high-grade gold in Resources across three key projects in prime Goldfields locations in Western Australia.
Looking ahead, Hughes said, "We are now forging ahead with development studies for all three Western Australian projects, while also continuing drilling programs to deliver further Resource growth."
