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Ora Hit High-Grade Gold at Crown Prince

4 July 2023 12:04
ASX: OAU

Ora Gold (ASX: OAU) continue to develop the potential of the Garden Gully Project’s Crown Prince Prospect, with the first diamond drill hole at the Prospect’s newly unveiled South Eastern extension returning high-grade gold hits up to 72.75g/t Au.

Striking Gold

The rig delivered a total intercept of 6.8m @ 17.74g/t Au from 142m incl. 1.5m @ 72.75g/t Au from 145.7m indicating that high-grade gold mineralisation at the South Eastern Ore Body (SEB) remains open below 150 metres showing potential for a new down-dip extension of the SEB and providing support for the new structural interpretation for mineralised shoots at Crown Prince.

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Figure 2: Significant gold intercept within the first drill core from OGGDD536 at SEB and the newly interpreted structural setting at Crown Prince Prospect

The objective of the four-hole diamond drilling campaign was to follow up a previous drilling campaign demonstrating strong continuity of mineralisation at depth to Crown Prince’s Main Ore Body, delivering a 22.24g/t Au gold hit from what was the deepest hole drill at the South Eastern Ore Body.

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Figure 2: Cross section showing the recent drill core intercept and the previous intersections from the CVX lode on SEB anticline

This intersection was taken from the south-westerly plunge of the South Eastern Ore Body’s anticlinal hinge, particularly targeting the CVX lode it hosts which has so far delivered the SEB’s most consistent high-grade gold intercepts, with recent RC drilling targeting the same area delivering grades up to 36.8g/t Au and identifying a number of extensions to known mineralisation.

The Crown Prince’s Potential

While the Company is still anticipating the assay of the three remaining diamond drill holes, it is already planning further drilling to identify additional zones of mineralisation at depths between 100m to 300m to the north-east and south-westerly down dip, with this drill expected to comprise further RC drilling and an additional diamond drill hole.

With such promising early signs, the Company is eager to include the SEB in a planned update to Crown Princes 479kt @ 3.6g/t gold resource planned for September, with a resource estimation for the SEB currently underway to allow for its inclusion in this upgrade.

OAU’s Australian Stock Exchange-listed share price was trading at 0.5c today (11:28 am UTC+ 8 hours).

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