
July 03, 2023
Ora Gold Limited (“Ora” or the “Company”, ASX: OAU) is pleased to announce a high- grade gold intercept from the first drill core at the Crown Prince South-East Extension (M51/886).
Highlights:
- High grade gold results returned from the first diamond drilling at the South- Eastern Ore Body (SEB) of Crown Prince Gold Prospect. This intercept returned from the hinge zone of the newly delineated SEB anticline hosting the main CVX Lode.
- The intersection indicates that the high-grade gold mineralization remains open below 150m. The lode is folded, plunging to the SSW and consists of quartz- carbonate-chlorite-sericite with sporadic veinlets of pyrite, arsenopyrite, pyrrhotite and traces of galena. The intercept from OGGDD536 includes:
6.8m @ 17.74g/t Au from 142m incl. 1.5m @ 72.75g/t Au from 145.7m - RC Drilling to further delineate the SEB mineralisation between 100m and 300m vertical depth is ongoing. Results to be incorporated into an updated resource model.
The Crown Prince south-east extension (SEB) continues to develop as a key growth area for gold resources at the prospect.
The Crown Prince Prospect is a high-grade gold deposit within Ora Gold’s Garden Gully Project. Crown Prince is located 22km north-west of Meekatharra in Western Australia via the Great Northern Highway and the Mt Clere Road (Figure 1).
Assay results from one diamond drill hole have been returned (Table 1, Appendix 1 & Figures 2-3). Core samples from another three holes have been delivered to Perth and the assays are pending.
The results in this release indicate the new down-dip extension of high-grade at SEB and support the new structural interpretation for mineralized shoots at Crown Prince (Figure 2). Mineralized envelopes are contorted and folded between northerly trending shears. MOB mineralization occurs in a steep south-east plunging anticline. SEB mineralization is hosted within a steep south westerly plunging anticline. The two zones are separated by a northerly trending shear zone (Figure2).
All hole details and sampling information are included in Table 1. Assay results received to date with more than 0.1ppm Au are included in Appendix 1.
Figure 1. Garden Gully tenements and location of OAU’s gold prospects
Figure 2. Significant gold intercept within the first drill core from OGGDD536 at SEB and the new interpreted structural setting at Crown Prince Prospect
Table 1. Diamond drill hole details and sampling information
South-Eastern Ore Body (SEB)
Exceptional high-grade gold intercepts have been recently reported on ASX release dated 28 June 2023. They included:
- 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
- 21m @ 2.53g/t Au from surface in OGGRC502 and
- 25m @ 2.00g/t Au from 3m in OGGRC491
The first diamond intersection was obtained along the south-westerly plunge of the anticlinal hinge of the SEB and opens the deep potential of the CVX lode, which has delivered to date the most consistent high-grade gold intercepts (Figures 2-3 and Photo 1).
Click here for the full ASX Release
This article includes content from Ora Gold Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
The Conversation (0)
2h
What Was the Highest Price for Gold?
Gold has long been considered a store of wealth, and the price of gold often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has... Keep Reading...
03 October
Top 5 Canadian Mining Stocks This Week: Prospector Metals Gains 356 Percent
Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.The big event impacting markets this week was the shutdown of the US government. Although... Keep Reading...
03 October
Editor's Picks: Gold Price Sets Sights on US$3,900, Silver Breaks US$48
The gold price continued to move this week, approaching the US$3,900 per ounce level and setting a fresh all-time high on the back of a US government shutdown.The closure came after Congress failed to reach an agreement on a spending bill ahead of the new American fiscal year, which began on... Keep Reading...
03 October
Minera Alamos Closes Nevada Mine Acquisition, Expands US Gold Footprint
Minera Alamos (TSXV:MAI,OTCQX:MAIFF) has completed its purchase of the Pan gold mine and two development-stage projects in Nevada from Equinox Gold (TSX:EQX,NYSEAMERICAN:EQX).The Toronto-based company said Wednesday (October 1) that it closed the previously announced transaction to acquire the... Keep Reading...
02 October
Option Exercise Nets $2.3M to Expand Exploration at Pinjin
Kalgoorlie Gold Mining (KAL:AU) has announced Option exercise nets $2.3M to expand exploration at PinjinDownload the PDF here. Keep Reading...
02 October
Adam Rozencwajg: Gold's Record Run Not Over Yet, Silver Still Looks Cheap
Adam Rozencwajg, managing partner at Goehring & Rozencwajg, discusses the factors driving gold's current price run and why he thinks it will continue. "I think that this rally is sustained. I think that it's going on until I see otherwise," he said. Don't forget to follow us @INN_Resource for... Keep Reading...
Latest News
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00