Ora Gold Limited

Quarterly Activities Report for the Period ended 30 June 2024

Ora Gold Limited (ASX:OAU) (“Ora” or the “Company”), a Western Australian gold explorer, is pleased to provide shareholders and investors with an exploration and operations overview to accompany the Appendix 5B for the quarter ending 30 June 2024 (“Quarter”, “Reporting Period”).


HIGHLIGHTS

Westgold Strategic Alliance

  • Ora entered into a binding agreement with Australian gold producer Westgold Resources Limited (WGX:ASX, OTCQX:WGXRF) in relation to a:
    • Strategic Alliance with the primary aim of advancing the development of Ora’s Crown Prince deposit into production; and
    • Strategic Placement of $6.0m at $0.0045 per share, equivalent to a fully diluted 15.0% pro forma shareholding in Ora
  • As part of the Strategic Alliance, Ora and Westgold to separately agree the terms of an ore purchase agreement
    • Ora’s Crown Prince deposit hosts a Mineral Resource of 240koz at 4.1g/t Au1and is located approximately 33 km via road from Westgold’s Bluebird Mill
    • Technical work streams for Mining Approval Submissions to DEMIRS are well advanced

Crown Prince Prospect

  • High grade results returned from RC drilling of strike extensions to the South-Eastern Zone in OGGRC710 (6m @ 28.80 g/t Au from 163m).
  • Diamond geotechnical holes assessing Crown Prince planned open pit are underway.
  • Three long lines of SRC sterilisation holes have been drilled on the eastern most part of the mining lease (M51/886) to test for mineralisation ahead of waste rock dump design.

Regional Exploration and Project Pipeline

  • Encouraging early drill results have been received from regional prospects Battery and Crescent
  • Deeper RC drilling planned at both prospects

Corporate

  • Ora finished the June quarter with $7 million cash and is well funded to pursue its technical programs for completion of Crown Prince mining proposal submissions which are expected to be made mid to late H2 of 2024.

During the Quarter, Ora reported exploration results from RC drilling at the Crown Prince Prospect (M51/886) part of Ora’s Garden Gully Gold Project (Figure 1). Crown Prince continues to be a focus as it is: a key growth target for additional gold resources; and is approaching development. The prospect comprises the Main Zone and Southeastern Zone both of which continue to return high grade results.

Click here for the full ASX Release

This article includes content from Ora Gold, 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.

OAU:AU
The Conversation (0)
Wooden gavel on a reflective surface, legal books blurred in the background.

Mali Court Seizes Control of Barrick Gold Mine Amid Escalating Dispute

A court in Bamako has ordered the temporary transfer of operational control of Barrick Mining's (TSX:ABX,NYSE:B) Loulo-Gounkoto gold-mining complex to a state-appointed administrator for six months.

The ruling, handed down on Tuesday (June 17) by the Tribunal de Commerce, empowers former health minister and certified accountant Soumana Makadji to run one of Barrick’s most lucrative global assets.

The company has described the move as “unjustified” and “unprecedented.”

Keep reading...Show less
Kobo Resources Intersects 21.5 m at 1.14 g/t Au and 20.0 m at 1.41 g/t Au at the Jagger Zone and Files FY 2025 Financial Results

Kobo Resources Intersects 21.5 m at 1.14 g/t Au and 20.0 m at 1.41 g/t Au at the Jagger Zone and Files FY 2025 Financial Results

  • All reported holes intersected gold mineralization, reinforcing continuity and improving structural understanding at the Jagger Zone
  • Results support   the Company's systematic exploration and targeting approach for further resource definition at Kossou

Kobo Resources Inc. (" Kobo" or the " Company ") ( TSX.V: KRI ) is pleased to announce additional diamond drill results from the ongoing exploration program at its 100%-owned Kossou Gold Project (" Kossou ") in Côte d'Ivoire. Results from the Jagger Zone continue to confirm broad zones of mineralisation and extend the footprint of gold-bearing structures along strike and at depth.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Auric Mining (ASX:AWJ)

Munda Gold Mine Mining Progresses: First Blast

Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to provide an update on mining of the Starter Pit at the Munda Gold Mine, 5km from Widgiemooltha, Western Australia.

Keep reading...Show less
Gold letters spelling "Fed" in front of a pile of gold dollar coins and US flag.

Gold Price, Equities Flat as Fed Leaves Rates Unchanged​

The US Federal Reserve held its fourth meeting of 2025 from Tuesday (June 17) to Wednesday (June 18) against a backdrop of trade tensions, spurred on by the Trump administration's tariffs.

The central bank met analysts’ expectations by holding its benchmark rate in the 4.25 to 4.5 percent range.

Chair Jerome Powell stated that the Fed's dual mandate of maximum employment and stable prices remains in balance, noting that the US economy is solid. He added that the labor market is not a source of inflationary pressures.

Keep reading...Show less

Latest Press Releases

Related News

×