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Finance Investment, Oil Mining Resources

Ora Gold (ASX:OAU) – High-Grade Primary Gold Intercepts at Crown Prince Extension

Ora Gold Limited (ASX:OAU) 2 mins read

Highlights:

  • Further assay results from the company’s RC drilling at the Garden Gully Gold Project have been received. 
  • High-grade gold results returned from South-Eastern Ore Body (SEB). These results come from the down dip parts of the SEB structure and Au-bearing quartz lode within fresh, sheared-dolerite (i.e. primary zone / fresh rock). Best intercepts include:
    • 21m @ 11.05g/t Au from 113m in OGGRC471, incl. 9m @ 22.24g/t Au from 121m
    • 24m @ 3.96g/t Au from 27m in OGGRC477 incl. 8m @ 7.27g/t Au from 35m 
    • 17m @ 1.85g/t Au from 101m in OGGRC480, incl. 7m @ 3.5g/t Au from 111m
    • 5m @ 6.13g/t Au from 182m in OGGRC468, and 3m @ 3.45g/t Au from 195m
  • 5m @ 6.13g/t Au from 182m in OGGRC468, and 3m @ 3.45g/t Au from 195m
  • The high-grade CVX lode within SEB was intersected at 113m metres downhole well below the top of fresh rock and base of oxidation and down dip from previously reported high grade intersections (refer ASX release 8 May 2022). 

Ora Gold Limited (“Ora” or the “Company”, ASX: OAU) is pleased to announce further high-grade gold intercepts from reverse circulation (RC) drilling at the Crown Prince Gold Prospect (M51/886). 

Drill holes in the current program have successfully delineated extensions to mineralized zones along strike of known mineralisation (to the north-west and south-east) and also in down-dip positions. In several areas new zones of gold mineralisation are indicated to be present in the footwall to previously drilled lodes. 

The Crown Prince south-east extension (SEB) continues to develop as a key growth area for gold resources at the prospect.

Ora Gold’s CEO Alex Passmore commented: “We are pleased to report further high-grade gold intercepts from Crown Prince Prospect. These results will be used in an upcoming resource estimation. The drilling discussed in this release indicates that the SEB ore body is strongly mineralised in the primary zone i.e. well below the top of fresh rock and we look forward to further drilling in this area. Diamond drilling to target deeper zones is set to commence shortly with shallower up-dip positions being better defined by air-core and slimline RC drilling currently. All data received so far suggests the SEB zone mineralisation commences at shallow depths, is high-grade over good widths and hence is likely to show robust economic outcomes in any conceptual mining scenario."


About us:

Ora Gold’s wholly owned tenements cover the prospective area of the Abbotts Greenstone Belt and comprise 4 granted Mining Leases, 1 granted Prospecting Licence and 6 granted Exploration Licences covering 217km2 .

The strategy for the advanced gold projects – Abbotts, Crown Prince and Lydia and base metal prospects at Government Well, is to pursue production while increasing resources and exploring for large gold and base metal deposits. 


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

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