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Ora Gold (ASX: OAU) – Exploration Continues to Grow Crown Prince Potential and Completion of Acquisition of Murchison Project

Ora Gold Limited (ASX: OAU) 3 mins read

Exploration Continues to Grow Crown Prince Potential

Ora Gold Limited (ASX: OAU, “Ora” or the “Company”) is thrilled to share the early results from a new phase of RC drilling at the Crown Prince Prospect (M51/886). These findings signify a promising growth to the known mineralisation in the area.

Key Highlights:

  • The recent phase of RC drilling, which includes both standard diameter 5.5” and slim diameter 4.5”, has unveiled a north easterly extension to SEB. This extension, while folded, is offset slightly from the SEB trend. The folded zone presents potential for higher grade zones, which are currently being tested by ongoing drilling.

  • Notable new intercepts include:

    • 3m at 77.092g/t Au from 53m in OGGSRC567 (SEB)
    • 12m at 8.26g/t Au from 28m incl. 5m at 17.19g/t Au from 33m in OGGSRC563 (SEB)
    • 5m at 8.81g/t Au from 55m in OGGRC557 which ended in mineralisation (SEB)
    • 2m at 9.45g/t Au from 73m in OGGSRC560 (SEB) within 9m at 3.32g/t Au from 72m
    • 9m at 2.50g/t Au from 69m in OGGSRC568 (SEB)
    • 7m at 3.20g/t Au from 3m in OGGSRC564 (SEB)

The Crown Prince Prospect, a high-grade gold deposit, is a part of Ora Gold’s Garden Gully Project. Conveniently located 22km north-west of Meekatharra in Western Australia via the Great Northern Highway and the Mt Clere Road, this prospect has been a focal point for its potential in gold resources. The prospect consists of the MOB and SEB mineralised zones. The high-grade results, especially from shallow depths and along the SEB strike, further emphasize the significance of this exploration.

Ora Gold Limited remains committed to its exploration endeavors and is optimistic about the potential that the Crown Prince Prospect holds for the future.

Alex Passmore Ora Gold’s CEO commented: “We are pleased with the recent early results from the Company’s drilling at Crown Prince which continue to demonstrate the high-grade nature of gold mineralisation. We look forward to receiving further data from this program with the vast majority of sample assays pending.”

Completion of Acquisition of Murchison Project

Ora Gold Limited (ASX: OAU) also announced the successful completion of its acquisition of the Murchison Project from Sipa Resources Limited (ASX:SRI) and its wholly owned subsidiary, Sipa Exploration NL. This acquisition, as referenced in the ASX announcement on 7 August 2023, sees Ora Gold acquire 100% of Sipa's interests in the tenements and other assets of the Murchison Project located in Western Australia.

Key Highlights of the Acquisition:

  • The new exploration tenure includes 14 exploration licences and 3 applications for exploration licences, covering a vast area of 460km2 in the Murchison region of Western Australia.

  • The exploration ground is a perfect complement to Ora Gold’s advanced Garden Gully Project. Notably, many areas are contiguous, with major prospective structures striking through both the currently held ground and the tenure acquired in this transaction.

  • The acquisition also brings in highly prospective tenements strategically located near the Reedy Gold Mine and the Burnakura Gold Plant.

Exploration Plan:

Ora Gold is gearing up for an extensive exploration phase on the newly acquired tenure. The planned activities include:

  • Regional exploration comprising soil sampling, aircore drilling, and targeted RC drilling at various prospects.

  • At Abernethy South, the focus will be on the Abernethy shear zone, which displays strong gold anomalism over a 5km strike length. The company aims to better define target areas, particularly zones showing enriched levels of gold mineralisation.

  • West Caledonian will see exploration targeting the contacts between mafic, ultramafic, banded iron formation, and a pre-tectonic granite – areas previously untested by drilling.

  • At West Reedy, the exploration will test the margin of a pre-tectonic granite and a mafic sequence. While there have been sporadic historical drill lines, they have been too sparse to adequately test for gold mineralisation.

  • East Burnakurra presents an exciting opportunity with a north-east trending boundary between felsic volcanics and a mafic unit that has never been drilled. This is particularly significant given its similarity to the mineralisation setting at the nearby Burnakurra Gold Mine.

Ora Gold’s CEO Alex Passmore commented: We are pleased to announce the completion of the Murchison Project from Sipa Resources. The tenure being acquired is complementary to Ora Gold’s existing tenement package in the Murchison - Meekatharra Area and triples the Company’s total land holding. We believe the new tenure has strong potential to host additional high grade gold deposits and we look forward to embarking on a regional exploration program across the various prospects in October 2023.


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

jm@janemorganmanagement.com.au

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