Ora Extends Crown Prince Gold Prospect

28 June 2023 11:08

Ora Gold’s (ASX: OAU) Crown Prince Prospect continues to demonstrate its promise, with the Company receiving new high-grade drill hits grading up to 36.8g/t Au and delivering new extensions to the Prospect’s South Eastern Ore Body.

Crowning the Prince

Part of the explorer’s larger Garden Gully Project, the Crown Prince Prospect has quickly risen to prominence amongst its extensive portfolio, and these latest intersections demonstrate why, with hits including:

  • 40m @ 17.53g/t Au from 30m incl. 19m @ 36.8g/t Au from 35m in OGGRC488
  • 16m @ 35.77g/t Au from 28m and 3m @ 20.38g/t Au from 10m in OGGRC489
  • 13m @ 21.9g/t Au from 32m and 9m @ 6.22g/t Au from 57m in OGGRC490
  • 12m @ 9.73g/t Au from 6m in OGGRC483

Figure 1: Significant intercepts with recent RC drill hole collars, DD hole traces and new interpreted structural setting at Crown Prince Prospect.

The 44-hole reverse circulation drilling campaign targeted the north-east of the South Eastern Ore Body and results delivered so far have identified a number of extensions both along the strike of known mineralisation to the north-west and in down-dip positions, with the opportunity for further extensions possible as only one-third of results have been delivered to date.

Drilling also indicated the potential for entirely new zones of gold mineralisation to be identified within the footwalls of previously drilled lodes.

Diamond Drilling

Alongside the 3,213 metre RC campaign, the Company has initiated a diamond drilling campaign to follow up a previous drilling campaign which delivered a 22.24g/t Au gold hit from what was the deepest hole drill at the South Eastern Ore Body, demonstrating strong continuity of mineralisation at depth.

A total of four diamond drill holes were drilled at the South Eastern Ore Body to test the extent of mineralisation at depths below 100 metres, with all four holes intersecting a sheared and potentially mineralised zone and the deepest diamond drill hole in the area intersecting the down-dip extension of the CVX-lode within the South-Eastern Ore Body being intersected at 212m.

Looking Ahead

Ora is still awaiting results from both the RC campaign and the diamond drilling campaign but is already planning additional drilling to further delineate the SEB zone of mineralisation, with the planned program looking to comprise RC and diamond drilling targeting 50m to 300m depth below surface.

The Company is now working on a resource interpretation for the South Eastern Ore Body which is expected to be included in an update to the Crown Price Prospect’s 479kt @ 3.6g/t gold resource.

The Company said that the south-east extension continues to develop as a key growth area for gold resources at the Prospect.

“These results indicate that the SEB mineralisation is folded in a steeply south-westerly plunging anticline with the north-eastern limb being strongly mineralised. With recent results returned from the primary zone showing good continuity to mineralisation, these results have a great impact on mineralisation modelling at Crown Prince Prospect,” Chief Executive Alex Passmore Said.

“With recent results returned from the primary zone showing good continuity to mineralisation, these results have great impact for mineralisation modelling at Crown Prince Prospect. Further encouragement comes from our diamond drilling which has targeted deeper zones and is interpreted to have intersected the mineralised structure at depth.”

OAU’s Australian Stock Exchange-listed share price has risen 100 per cent today and is currently trading at 0.4 cents (10:41 am UTC+ 8 hours).

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