AUSTRALIA — Ora Gold Limited (ASX: OAU) has announced outstanding results from its recent infill drilling program at the Crown Prince project, part of the company’s Garden Gully tenure in Western Australia.
The 7,500-metre, 66-hole reverse circulation (RC) drilling program has yielded exceptional grades and intercepts, further solidifying the project’s potential.
The infill drilling program, designed to better define mineralised lodes within the southeastern zone (SEZ) deposit, has returned some remarkable results:
- A standout intersection of 20 metres at 277g/t Au from 40 metres, including four metres at an astounding 1,368g/t Au from 52 metres (OGGRC859)
- 15 metres at 14.7g/t Au from 152 metres (OGGRC872)
- Nine metres at 21.44g/t Au from 28 metres, including two metres at 77.8g/t Au from 31 metres (OGGRC883)
- Several other significant intersections ranging from seven to 12 metres with grades between 6.05g/t and 11.74g/t Au
Ora Gold is making steady progress towards the development of Crown Prince, with production targeted to commence in mid-2025.
The recent drilling program was designed to upgrade resource categories within a future conceptual open pit area.
Alex Passmore, Ora Gold‘s CEO, expressed enthusiasm about the results: “We are very pleased to report these exceptionally high-grade results returned from recent infill drilling.
“Such high-grade headline results demonstrate the high-quality nature of the Crown Prince Project and point to its likely strong economics during development and production.”
The infill drilling has not only confirmed gold mineralisation modelling but has also upgraded the quality in many areas.
New very high-grade zones have been encountered in the footwall of SEZ lodes, which are expected to improve grade and tonnage estimates in this area.
The company is now working on updating the resource estimate, which is expected to be released in the coming weeks.
This update will form the basis for an ore reserve estimate, anticipated for late November or early December.
These exceptional drilling results are likely to generate significant interest in Ora Gold among investors and industry observers.
]The high-grade intersections, particularly the bonanza grade of 1,368g/t Au over four metres, underscore the potential value of the Crown Prince Project.
As Ora Gold continues to advance the project towards production, the market will be closely watching for the updated resource estimate and subsequent ore reserve announcement.
These developments could have a substantial impact on the company’s valuation and future prospects in the competitive gold mining sector.
