As gold prices touch all-time highs, junior and micro-cap companies are positioned to make their mark. Equities have not kept pace despite a flourishing gold market reaching US$2,337/oz today. Established gold equities on the ASX may be poised to narrow the gap, but the potential of junior miners like Ora Gold remains untapped.
Ora Gold and the Garden Gully Project:
Ora Gold Limited (ASX:OAU) presents an attractive opportunity with its flagship Garden Gully Gold Project in Western Australia. This 677 km² property sits strategically within the Abbotts Greenstone Belt, just north of Meekatharra. It benefits from proximity to five operating gold mines and processing facilities, including those of Westgold Resources and Ramelius Resources. The Garden Gully Project is packed with multiple gold prospects, with the Crown Prince deposit leading the way.
Crown Prince recently grew its resource to 240,000 ounces at an impressive 4.1 g/t gold. This expansion includes the newly discovered Southeastern Zone, which yielded 164,000 ounces at 5.2 g/t gold after its maiden resource estimate in December 2022. The deposit remains open at depth and along strike, offering both open-pit and underground mining potential. Shallow at less than 300 meters, the high-grade Southeastern Zone promises further exploration success.
Today’s release confirms the potential of the Southeastern Zone (“SEZ:), highlighting additional high-grade gold grades from the recent drilling campaign. Further assay results from RC drilling at SEZ has delivered high-grade gold mineralisation at the eastern end of the ore body and well down dip from previously reported intersections
Recent new intercepts include:
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6m at 28.8g/t Au from 163m including 2m at 76.62g/t Au from 164m below a higher mineralised zone of 6m at 1.78g/t Au from 124m in OGGRC710
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10m at 1.91g/ t Au from 208m in OGGRC709
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4m at 2.08g/t Au from 263m in OGGRC704
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Follows on from high-grade results returned from earlier drilling (refer March 2024 quarterly report):
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13m at 5.03g/t Au from 72m and 22m at 5.07g/t Au from 88m in OGGRC682 (nb. hole interpreted to be drilled in a down dip orientation)
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Down dip continuity of more than 100m delineated by drilling in this new high-grade zone at the eastern end of SEZ, which remains open at depth
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Alex Passmore Ora Gold’s CEO commented: “Drilling from the Southeastern Zone (SEZ) continues to show the potential for new high-grade zones to be discovered. This area of the resource has previously been modelled as modest grade and width. We look forward to incorporating these results which show high grades down the profile with good continuity to depth into an updated Crown Prince MRE, which is expected to be finalised in a few months from now.”
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.
The Company is focused on the Garden Gully Gold Project which comprises a 677km2 tenure package covering the Abbotts Greenstone Belt and other key regional structures. The project has multiple gold prospects along the belt with the most advanced being the Crown Prince Prospect.
Gold mineralisation in the belt is controlled by major north trending structures and contact zones between felsic and mafic metamorphosed rocks.
Crown Prince Prospect is located within a granted mining lease and is advancing towards development.
Contact details:
Jane Morgan
jm@janemorganmanagement.com.au
