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Ora Hit High-Grade Gold at Crown Prince Extension

22 May 2023 12:42
ASX: OAU

Ora Gold’s Reverse Circulation drilling campaign at its Garden Gully Project continues to deliver, with the latest intersection from the southeast extension to the Crown Price prospect showing grades up to 22.24g/t Au.

A Gold Garden

New intersections from the extensive drilling campaign continue to highlight the newly dedicated south-eastern extension of Crown Prince’s potential to deliver growth for the prospect’s current 479kt @ 3.6g/t gold resource, with results including:

o 21m @ 11.05g/t Au from 113m in OGGRC471, incl. 9m @ 22.24g/t Au from 121m
o 24m @ 3.96g/t Au from 27m in OGGRC477 incl. 8m @ 7.27g/t Au from 35m
o 17m @ 1.85g/t Au from 101m in OGGRC480, incl. 7m @ 3.5g/t Au from 111m
o 5m @ 6.13g/t Au from 182m in OGGRC468, and 3m @ 3.45g/t Au from 195m

Particularly interesting is the 22.24g/t Au hit from hole OGGRC471 which is the deepest hole drilled at the South-Eastern Ore Body, demonstrating that the new body has strong mineralisation continuity at depth.

The current campaign has identified a number of extensions to mineralised zones located to the northwest, southeast and down-dip of known mineralisation, with the Company planning to use these results in an upcoming resource estimation.

Looking Forward

The Company said it is now preparing for a follow-up diamond drilling campaign targeting extensions of the Main Ore Body and South-East Ore Body set for next month.

“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 new rock. We look forward to further drilling in this area,” Chief Executive Alex Passmore said.

“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.”

OAU’s Australian Stock Exchange-listed share price was trading at 0.3c today (10:32 am UTC+ 8 hours).

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