Why is this ASX All Ords gold stock leaping 11% today?

The All Ordinaries Index (ASX: XAO) is up 0.8% today, with plenty of help from this rocketing ASX All Ords gold stock.

The outperforming stock in question is Gorilla Gold Mines Ltd (ASX: GG8).

Gorilla Gold shares closed yesterday trading for 36.5 cents. In late morning trade on Friday, shares are swapping hands for 40.5 cents apiece, up 11%.

Here’s what’s stoking investor interest.

ASX All Ords gold stock rockets on drill results

Gorilla Gold shares are ripping higher today after the miner announced another batch of promising drilling results from its flagship Comet Vale Gold Project, located in Western Australia.

Comet Vale Project is part of the ASX All Ords gold stock’s North Kalgoorlie Hub. The North Kalgoorlie Hub has a current Mineral Resources of 1.2 million ounces, at 3.7 grams of gold per tonne (1.2Moz at 3.7g/t Au).

Gorilla has been actively expanding the project, revealing that its ongoing drilling campaign has returned further high-grade gold intercepts from the Sovereign Deposit within Comet Vale.

Among the top three drill hole results, the miner reported:

• 8 metres at 21.0g/t Au from 374.3 metres
• 1 metres at 24.8g/t Au from 328.8 metres
• 5 metres at 36.9g/t Au from 266.8 metres

The miner said another reverse circulation rig has now commenced drilling at Comet Vale, bringing the total number of rigs it has operating at the North Kalgoorlie Hub to five.

What did Gorilla Gold management say?

Commenting on the high-grade results lifting the ASX All Ords gold stock today, Gorilla Gold CEO Charles Hughes said, “Our 2026 exploration campaign is now really moving up a gear as the flow of assay results begins to accelerate.”

He added, “These latest results from the cornerstone Sovereign Deposit continue to reinforce the scale and endowment of the key gold systems across the Comet Vale Project.”

Highlighting the significant potential of the deposit, Hughes said:

Sovereign is the largest and highest-grade individual deposit at Comet Vale, with a current resource of 410,000 ounces @ 4.3g/t Au over a strike length of 1.3 kilometres and clear potential to extend this resource well beyond 2.5 kilometres in length.

Importantly, we’re seeing multiple parallel lodes developing at Sovereign around the contact of two major lithological units, with no real indication yet of how much further these lodes may extend as we get further into the footwall of this contact. That means there is plenty of growth upside!

Looking at what could impact the ASX All Ords gold stock in the months ahead, Hughes concluded:

We are firmly on track to deliver further significant resource growth in 2026, with five rigs turning across the North Kalgoorlie Hub and one rig turning at the Vivien Project.

Outside of the discovery and resource definition work at Sovereign, we are also drilling a number of exciting greenfield targets at Comet Vale, plus drilling is also ongoing at Mulwarrie with more assay results imminent.

The post Why is this ASX All Ords gold stock leaping 11% today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.