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Ora Gold Limited (“Ora” or the “Company”, ASX: OAU) is pleased to report exploration results from RC drilling at the Crown Prince Prospect (M51/886) part of Ora’s Garden Gully Gold Project (Figure 1).
Highlights
- Initial assay results from the start of 2024 RC drilling at Southeastern Zone (SEZ) has delivered further high-grade gold mineralisation down dip from previously reported intersections.
- 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
- The results in this announcement relate to the first batch of assays received from drilling which commenced in early February 2024.
- Results are pending for 39 holes totaling 4,151m drilled in February and March 2024.
The advanced Crown Prince Prospect (“Crown Prince”) continues to be a focus as a key growth area for gold resources. The prospect predominantly comprises the Southeastern and Main Zones. High-grade gold assay results discussed in this release include results from OGGRC662. Importantly this hole successfully targeted depth extensions of the eastern area of Southeastern Zone mineralisation. The intersection sits just within the resource block model (northeastern end of the deposit) and is likely to result in a grade uplift and strike extensions when incorporated into future models.
Assay results discussed in this announcement are shown in Appendix 1 & Figures 2-5. RC hole details are included in Table 1.
Alex Passmore Ora Gold’s CEO commented: “We are very pleased with the initial assay results from Ora’s RC drilling program targeting growth at Southeastern Zone which continues to demonstrate high-grade gold mineralisation at depth. We look forward to following up with further drilling which is focused on adding to the known strike and depth extent of Crown Prince.”
Figure 1. Ora Gold Regional Tenements - Crown Prince located 21km north of Meekatharra
Figure 2. Significant gold intercepts from the recent deep RC holes with the new interpreted structural setting at Southeastern Zone and Crown Prince East
The best intersection returned in the initial results from RC drilling was returned in OGGRC662 being 15m at 9.91 g/t Au from 88m including 2m at 54.17g/t Au from 100m (Figures 2-5 and Appendix 1). The intersection is at the eastern end of the existing resource model (Figure 3) and is expected to increase the grade profile in this area (Figure 4).
This is down dip of the previously intersected high grade within OGGSRC563 (12m at 8.26g/t Au from 28m, refer OAU ASX release 21 September 2023).
Assays received from OGGRC663 further down dip from OGGRC662 (around 75m away) intersected the mineralised structure at depth, albeit at a lower grade (4m @ 1.72g/t Au). Refer Figure 5. Follow up drilling to confirm grades in this deeper area is planned.
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