Skip to content
Finance Investment, Oil Mining Resources

Ora Gold (ASX:OAU) to Significantly Expand Garden Gully Project Tenure

Ora Gold Limited (ASX: OAU) 2 mins read

Ora Gold Limited (ASX: OAU) is thrilled to announce a significant expansion of the Garden Gully Project Tenure through the acquisition of Sipa's Murchison Project. This substantial tenement package is principally located adjacent to and south of Ora Gold's Garden Gully Gold Project.


Highlights of the Acquisition:


  • The Murchison Project comprises 14 exploration licenses and 3 applications for exploration licenses, encompassing 460km² in the Murchison region of Western Australia.

  • The acquisition triples the size of Ora Gold's existing 217km² ground position in the region along key geological structures.

  • Total consideration for the acquisition payable to Sipa is $1.4M, comprising $600,000 in cash and $800,000 in Ora Gold shares at a deemed price of 0.60c, with 50% of the shares subject to a voluntary 12-month escrow period.

  • Settlement of the transaction is expected to be completed on or around August 31, 2023.

  • The acquisition is highly complementary to Ora Gold's advanced Garden Gully Project, contiguous in many areas with major prospective structures striking through currently held ground and tenure acquired under this transaction.

  • Acquisition also includes well-located and highly prospective tenements near the Reedy Gold Mine and near the Burnakura Gold Plant.


Ora Gold's CEO, Alex Passmore, commented on the acquisition, stating:We are pleased to announce the acquisition of very prospective additional tenure adjacent to our existing Garden Gully Project. The tenement package includes extensions to the Abernethy shear zone in the southern part of our existing project area which shows substantial gold anomalism along a +5 km strike. Additionally, the southern and southeastern newly acquired areas are in prospective zones and are located near recent past producing mines (Reedy and Burnakura). Exploration on the new tenure will be incorporated into a regional exploration program with drilling to be undertaken in the coming 3 months.”


The acquisition aligns with the Company's strategic focus on pursuing organic and inorganic growth options considered value accretive for shareholders.


About us:

Ora Gold Limited (ASX: OAU) is a mineral exploration and development company which holds a substantial package of tenements in the prolific Murchison goldfield near Meekatharra, Western Australia.

Contact details:

Jane Morgan


More from this category

  • Finance Investment, Oil Mining Resources
  • 01/12/2023
  • 09:50
Aurumin Limited (ASX: AUN)


Aurumin Limited (ASX: AUN), ASX-listed mineral exploration Company, is pleased to announce the appointment of Daniel Raihani as a non-executive director, effective as of today. This strategic addition to the board is expected to bring a wealth of experience and insight to the Company. Daniel Raihani, a seasoned Accountant and Tax Professional, is known for his extensive executive-level experience in both for-profit and not-for-profit sectors. His appointment comes at a time when Aurumin Limited is poised for significant growth and development. As the beneficial owner of 7 Enterprises Pty Ltd, which has recently become a substantial shareholder in Aurumin Limited,…

  • Contains:
  • Finance Investment
  • 01/12/2023
  • 08:52
Hut 8 Corp.

Hut 8 and USBTC Announce Completion of Business Combination

Shares of Hut 8 Corp. common stock are expected to begin trading on Nasdaq and the TSX on December 4 under the ticker symbol “HUT”Completion of the transaction creates a strong, diversified, and infrastructure rich organization with a pipeline of greenfield and brownfield opportunitiesTORONTO and MIAMI, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Hut 8 Mining Corp. (Nasdaq | TSX: HUT), ("Hut 8” or the “Company”) one of North America’s largest, most innovative digital asset mining pioneers and high performance computing infrastructure providers, proudly announces the completion of its business combination pursuant to which Hut 8 and U.S. Data Mining Group, Inc.…

  • Energy, Finance Investment
  • 01/12/2023
  • 06:01
Friday 1 December 2023


Faster approvals for transmission projects, removing regulatory barriers to battery projects and the development of a local Sustainable Aviation Fuel (SAF) industry are some of the key recommendations set out in a new plan which could super-power the energy transition in Australia, while delivering returns to superannuation members now and protecting their retirement savings in the future. Released today by major profit-to-member super funds, AustralianSuper, ART, CareSuper, Cbus, HESTA, Hostplus, Rest Super, UniSuper, representing around $1 trillion of industry super capital, and industry superfund-owned IFM Investors, Super-powering the energy transition: A policy blueprint to facilitate superannuation investment, identifies policy solutions…

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time your distribute with Medianet. Pay per release or save with a subscription.