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Ora Gold Reports Promising Drilling Results at Crown Prince

23 November 2023 10:38
ASX: OAU
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Ora Gold Limited (ASX: OAU) continues to stride ahead in its exploration of the Garden Gully Project, announcing it has received promising assay results from the drilling campaign conducted at the Crown Prince Prospect, delivering further high-grade gold mineralisation down dip from previously reported intersections.

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Figure 1: Ora Gold Regional Tenements – Crown Prince located 21km north of Meekatharra

Further High-Grade Intersections

Ora continues to ‘strike gold’ at its Crown Prince Prospect, announcing significant intercepts in October from slim Reverse Circulation (RC) drilling demonstrating the vast gold mineralisation potential at the Deposit.

The results released today are from its recent phase of RC and Diamond Drilling (DD) drilling at the Crown Prince “South Eastern Ore Body” (SEB), which have yielded further high-grade gold mineralisation down dip from the previously reported intersections.

Significant new intercepts reported include:

  • 1 metre at 69.3g/t Au from 226 metres
  • 1 metre at 18.07g/t Au from 203 metres within 9 metres at 4.46g/t Au from 202 metres
  • 1.55 metres at 7.7g/t Au from 192.15 metres in OGGRCDDRC586
  • 11 metre at 3.93g/t Au from 114 metres in OGGRC606
  • 2 metre at 6.36g/t Au from 135 metres in OGGRC612

Crown Prince Exploration: Hole OGGRCDD586

The Crown Prince Prospect continues to demonstrate its potential as a key focus area with vast gold resource growth potential for the Company.

The prospect comprises the SEB and the Crown Prince “Main Ore Body” (MOB) mineralised zones.

Hole OGGRCDD586 revealed high-grade gold assay results and successfully targeted depth extensions in the hinge zone of SEB mineralisation. This zone plunges towards the south-west and is open at depth below this intersection recorded at 226 metres down hole.

Ora Gold reports the best intersection was returned in this hole, with 1 metre at 69.3g/t Au from 226 metres. The Company reports below this mineralised zone a one metre sample was collected (226 -227 metres) with assays still pending.

The Company anticipates further high grade results when this is returned, as strong alteration and quartz-carbonate veining were visible within the previous interval.

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Figure 2: Significant gold intercepts from the previous deep RCDD holes with the new interpreted structural setting at SEB

Additional Exploration

The rapid exploration of the Crown Price Prospect was aided via the Company’s recent $5 million capital raise, with funds allowing for resource definition, extensional and regional exploration drilling, metallurgical testwork, geotechnical drilling, and hydrogeological investigations.

Ora reports it is still awaiting assays from four new deep RC holes which were recently drilled over the north-eastern extension of SEB.

The Company eagerly awaits the results from 45 holes, drilled for a combined depth of 4,332 metres.

Company Comments

Ora Gold’s CEO Alex Passmore commented on the promising assay results.

“We are very pleased with the assay results from Ora’s RC and DD drilling program targeting depth extensions at SEB which continues to demonstrate further high- grade gold mineralisation at depth,” he said.

“We look forward to following up with further extensional drilling which is focused on adding to the known strike and depth extent of Crown Prince.”

OAU’s Australian Stock Exchange-listed share price was trading at $0.005 today (10.30am UTC+ 8 hours).

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