
- NORTH AMERICA EDITIONAustraliaNorth AmericaWorld
July 30, 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 Au1 and 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
Alert Options
No alert set
INN Article Notification
Alert Option
You will be notified when this event occurs. No additional settings needed.
The Conversation (0)
17h
Don Durrett: Gold, Silver Stock Opportunity "Unbelievable," My Focus Now
Don Durrett of GoldStockData.com shares his updated gold and silver price outlook, as well as how his portfolio is focused given the current environment. "You have this unbelievable opportunity here — the leverage is just somewhat crazy," he said.Don’t forget to follow us @INN_Resource for... Keep Reading...
18h
Gold Trend is Up, Output to Grow 500 Percent by 2030 | Gold Royalty's John Griffith
John Griffith, president of Gold Royalty (NYSEAMERICAN:GROY), outlines his company's growth plans in what he expects to continue to be a strong gold price environment. "If you just look at our current portfolio, we have over the next five years 500 percent growth all fully bought and paid for,"... Keep Reading...
18h
Domestic Metals Drilling Rio Tinto's Smart Creek Hole at a New Angle
Domestic Metals (TSXV:DMCU,OTCQB:DMCUF,FWB:03E0) President and CEO Gordon Neal discussed the drill program now underway at the Smart Creek project in Montana.Speaking with the Investing News Network at the Precious Metals Summit in Beaver Creek, Neal emphasized that Rio Tinto's... Keep Reading...
21h
Franco-Nevada Takes 12.4 Percent Stake in Kenorland Minerals
Royalties and streaming giant Franco-Nevada (TSX:FNV,NYSE:FNV) has acquired a 12.42 percent stake in early-stage exploration company Kenorland Minerals (TSXV:KLD,OTCQX:KLDCF) through a US$22.2 million private block trade.The Toronto-based firm purchased 10 million Kenorland common shares at... Keep Reading...
05 October
Ronald-Peter Stoeferle: Gold's Key Triggers, Plus Final Price Target
Ronald-Peter Stoeferle of Incrementum shares his thoughts on gold, identifying several price triggers that he believes will drive the yellow metal higher. Those include a change in messaging from the US Federal Reserve and a US dollar bear market. "I think we've got still two, three, four good... Keep Reading...
05 October
Gold's Top Drivers, Plus New US$190 Million Deal | Elemental Royalty's Frederick Bell
Frederick Bell, CEO of Elemental Royalty (TSX:ELE,NASDAQ:ELE), shares his outlook for gold and discusses recent company developments, including Elemental's US$290 million acquisition of a royalty and streaming portfolio. "I think overall there will be short-term movement in the oil price, in... Keep Reading...
Latest News
Interactive Chart
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00





