Ora Gold (ASX:OAU) a forward-thinking gold explorer that presents a unique opportunity with shallow, high-grade Crown Prince gold deposit, and significant land package in the prolific Murchison goldfields. Ora Gold takes pride of its strategic alliance with established Australian gold producer Westgold Resources, which positions it as a noteworthy contender in the Western Australian gold exploration space.
As Ora Gold continues to navigate the path to production, its journey is one that astute investors will watch with keen interest.
Ora Gold' strategic alliance and $6 million placement with Australian gold producer Westgold Resources provides a clear pathway to commercialising Crown Prince in a strong gold price environment, validates the quality of the deposit and enables Ora Gold to leverage Westgold’s internal resources, intellectual property and infrastructure to accelerate development.
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For investors with an eye on mining stocks, Ora Gold (ASX:OAU) presents a unique opportunity. The company's shallow, high-grade Crown Prince gold deposit, significant land package in the prolific Murchison goldfields, and strategic alliance with established Australian gold producer Westgold Resources, positions it as a noteworthy contender in the Western Australian gold exploration space. As Ora Gold continues to navigate the path to production, its journey is one that astute investors will watch with keen interest.
Within the heart of Australia's Murchison gold district, a region host to +35 Moz gold endowment (historic production and current resources), stands Ora Gold, a forward-thinking gold explorer with a clear strategy to maximise shareholder value driven by a highly experienced management team. The company’s value proposition centres on growing and de-risking its shallow, high-grade Crown Prince gold deposit (part of the company’s Garden Gully gold project) and a strategic alliance with established Australian gold producer Westgold Resources, offering a clear pathway to production and cash flow generation.
Ora Gold’s flagship Garden Gully gold project is located c. 20 kilometres north-west of Meekatharra, Western Australia. The project boasts a 677 square kilometre tenement package that covers the Abbotts Greenstone Belt. The project includes granted mining leases and Native Title agreements in place over the Crown Prince, Abbotts and Lydia prospects. Garden Gully is in close proximity to a number of operating gold mines and existing gold processing facilities.
Ora Gold has a strong pipeline of exploration and development prospects at Garden Gully, with the most advanced being Crown Prince.
The company published an updated mineral resource estimate for the Crown Prince deposit of 1.8 Mt at 4.1 g/t gold for 240 koz (68 percent indicated category), which includes a maiden resource for the Southeastern Zone (SEZ) of 1 Mt at 5.2 g/t gold for 164 koz (discovered in late 2022).
The resource is shallow, delineated from surface, remains open at depth and along strike, and located within a 300 m x 200 m area demonstrating strong open pit mining potential. There is significant resource growth potential at new mineralised zones at the north eastern end of SEZ and Crown Prince East (350 m from SEZ).
Ora Gold also published strong metallurgical performance from advanced test work at Crown Prince with high recovery of gold through gravity and cyanide leach test work, reporting overall gold recovery rates ranging from 98.2 to 99.8 percent.
Recent high-grade gold intersections at SEZ
Ora Gold announced a strategic alliance and $6 million placement with Australian gold producer Westgold Resources.
The Westgold transaction provides a clear pathway to commercialising Crown Prince in a strong gold price environment, validates the quality of the deposit and enables Ora Gold to leverage Westgold’s internal resources, intellectual property and infrastructure to accelerate development.
The primary aim of the strategic alliance is to fast track the development of Ora Gold’s Crown Prince deposit into production. As part of the strategic alliance, Ora Gold and Westgold will use their best endeavours to agree on the terms of a proposed ore purchase agreement (OPA). Crown Prince is located only 33 km from Westgold’s 1.6 – 1.8 Mtpa Bluebird Mill. A key term of the OPA will include Ora Gold granting Westgold a right of first refusal to the future purchase of all ore produced from tenements owned by Ora to be processed at Bluebird.
In addition to the OPA, the strategic alliance may also encompass other strategic collaboration initiatives such as access to Westgold’s expertise and infrastructure. Upon completion of the strategic placement, Westgold will be an 18.7-percent shareholder (undiluted basis) and have the right, but not the obligation to an Ora Gold board seat and an equity participation right.
Proceeds from the strategic placement and current cash will allow Ora Gold to fast track further resource development, project development and mining proposal workstreams at Crown Prince and continue systematic regional exploration across Ora’s commanding 677 sq km tenure.
Major players are increasingly partnering with junior explorers to secure access to high-grade, quality gold resources. Ora Gold's collaboration with Westgold epitomises this movement, setting a blueprint for mutual success in the industry.
Key Focus
The near-term focus for Ora Gold will be further resource growth and rapidly advancing project development and mining proposal workstreams at Crown Prince:
Ora Gold is led by a team of experienced professionals with a diverse set of skills and expertise. At the helm of the company's operations is CEO Alex Passmore, a qualified geologist with extensive corporate finance experience to guide Ora Gold's strategic plan. The board is chaired by Rick Crabb, with extensive experience in the legal and mining sectors providing invaluable governance and oversight.
Supporting the company's governance structure, Malcolm Randall serves as a non-executive director, bringing a wealth of knowledge from his tenure in the resource sector, including 25 years at Rio Tinto. Frank DeMarte, director and company secretary, contributes over 39 years of mining industry experience in areas of financial management governance and secretarial practice.
The collective experience of Ora Gold's board and management is a cornerstone of the company's success, positioning it to capitalise on the opportunities within the Garden Gully project and beyond.
For further information on Ora Gold's strategic initiatives and investment opportunities, sign up for a free investor kit.
All amounts expressed in US$
Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) New Porgera Limited (NPL) said today it is working with the United Nations (UN) and Enga Provincial Government (EPG) as part of an ad hoc crisis committee to assist with humanitarian aid to the conflict-ridden Porgera Valley in Papua New Guinea's Enga Province.
Following the committee's first meeting this Tuesday, it was agreed that a donor assessment team would travel to Porgera to make a first-hand assessment of the situation and community needs. NPL is providing logistical support, including a helicopter, to make this visit possible.
According to Papua New Guinea's Mineral Resource Authority managing director Jerry Garry, the wide-spread tribal violence in the area initially started in a dispute between two illegal miners from the Kandep and Laiagam districts which quickly escalated into local villages and the wider community.
NPL has been assisting the national Papua New Guinea government and EPG with disaster relief efforts since the deadly Mulitaka landslide on May 24 this year. NPL community relations officers were among the first on the ground after the landslide struck and have been assisting the UN and other agencies since. Senior NPL executives were also seconded to the Enga Provincial Disaster Management Committee to assist with relief work.
Barrick Gold Corporation and Zijin Mining Group – the 50:50 joint venture partners in Barrick Niugini Limited, part-owner of NPL with the government owning the rest – jointly donated $1 million to the relief while NPL donated food, temporary shelter and other essential items to afflicted families.
Other relief measures undertaken by the mine include fencing the Mulitaka Health Centre; repairing and reinforcing the Mulitaka High School for the temporary accommodation of disaster relief teams; donating mattresses and bedding for police; establishing a temporary fuel pipeline, helicopter air bridge and working with the Porgera Chamber of Commerce to provide much-needed fuel and supplies to the community. NPL is also working with the Government to complete a permanent bypass road that will restore the full access for the Porgera community that was cut off by the landslide.
Barrick enquiries
Investor and media relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com
Website: www.barrick.com
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Stock Symbol: AEM (NYSE and TSX)
Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle" or the "Company") today announced that it has filed an updated technical report for the Detour Lake mine in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.
The technical report is available on SEDAR+ ( www.sedarplus.ca ) and on the Company's website ( www.agnicoeagle.com ).
About Agnico Eagle
Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in Canada , Australia , Finland and Mexico . It has a pipeline of high-quality exploration and development projects in these countries as well as in the United States . Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading environmental, social and governance practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.
View original content to download multimedia: https://www.prnewswire.com/news-releases/agnico-eagle-files-technical-report-for-the-detour-lake-mine-302254136.html
SOURCE Agnico Eagle Mines Limited
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NOVAGOLD RESOURCES INC. (TSX, NYSE American: NG) will release its 2024 third quarter financial results after market close on October 2, 2024. A conference call and video webcast to discuss these results will take place October 3, 2024, at 8:00 am PT (11:00 am ET).
During the webcast, NOVAGOLD's President and Chief Executive Officer, Greg Lang; and Vice President and Chief Financial Officer, Peter Adamek, will provide a summary of the company's third quarter financial results and an update on the Donlin Gold project.
Questions may be submitted prior to the call at info@novagold.com . Conference call participants will also have an opportunity to ask questions during the webcast following the presentation.
The video webcast and conference call-in details are provided below.
Video Webcast: www.novagold.com/investors/events/
North American callers: 1-844-763-8274
International callers: 1-647-484-8814
The webcast will be archived on NOVAGOLD's website for one year. For a transcript or replay of the call, please visit https://www.novagold.com/investors/presentations/ or email info@novagold.com .
NOVAGOLD Contact:
Mélanie Hennessey
Vice President, Corporate Communications
Frank Gagnon
Manager, Investor Relations
604-669-6227 or 1-866-669-6227
www.novagold.com
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