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Ora Gold’s Crown Prince Prospect continues to prevail

18 March 2024 12:13
ASX: OAU

Ora Gold (ASX:OAU) has delivered promising exploration results from reverse circulation drilling at its Crown Prince Prospect unit of the Garden Gully Gold Project, located 21 kilometres north of Meekathara, Western Australia.

This follows the explorer’s recent report regarding metallurgical test work at the Prospect, which revealed stellar gold recovery results.

The Crown Price Prospect

Once more, the Crown Prince Prospect is a pivotal domain for gold resource expansion, consistently yielding high-grade gold assays.

Primarily encompassing the Southeastern and Main Zones, the prospect’s significance was underscored by OGGRC662’s focus on probing depth extensions in the eastern sector of the Southeastern Zone mineralisation.

This recent intersection falls neatly within the resource block model, instilling confidence in Ora that it will not only enhance the grade but also extend the strike when incorporated into forthcoming models.

The Crown Prince Prospect has again proved to be a key growth area for gold resources, continuing to bring high-grade gold assays.

The prospect largely comprises the Southeastern and Main Zones, but importantly OGGRC662 targeted depth extensions of the eastern area of Southeastern Zone mineralisation.

The intersection sits just within the resource block model and Ora is confident the outcome will result in both a grade uplift and strike extensions when applied to future models.

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Figure 1: Ora Gold Project Location.

The results

Recent new intercepts include:

  • 15m at 9.91g/t Au from 88m including 2m at 54.17g/t Au from 100m and 5m at 6.60g/t Au from 31m in OGGRC662
  • 1m at 8.67g/ t Au from 276m in OGGRC541
  • 4m at 1.72g/t Au from 172m in OGGRC663
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Figure 2: Cross section looking northeast showing the position of OGGRC662 and OGGRC663.

These results relate to the first batch of assays received from drilling
which commenced in early February 2024.

Results are pending for an additional 39 holes, totalling 4,151m which were drilled between February and March 2024.

Optimistic outlook

Ora Gold Chief Executive Alex Passmore is confident about the future of the Crown Prince Prospect after frequently receiving high-grade assay results.

“We are very pleased with the initial assay results from Ora’s RC drilling program targeting growth at the Southeastern Zone which continues to demonstrate high-grade gold mineralisation at depth,” he said.

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

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Figure 3: Perspective View (3D) looking North West with Block Grades Above 1 g/t Au.

OAU’s Australian Security Exchange-listed share price has risen 16.6 per cent today and is currently trading at $0.007 (11:45 am UTC+ 8 hours).

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