Ora Gold (ASX:OAU) elevates Crown Prince to 240koz in Murchison

Ora Gold (ASX:OAU) elevates Crown Prince to 240koz in Murchison

February 6, 2024 Off By Jack Baker

Ora Gold has marked a hefty increase to its Crown Prince resources, increasing the gold asset to 240,000 ounces at 4.1g/t at the tentpole deposit of its 677 square kilometre Garden Gully Project in the heart of Western Australia’s prolific Murchison Gold District.

Previously standing at a modest 55,000 ounces at 3.6 grams per tonne from the 2019 resource, the upgraded total includes a higher grade 164 kilo-ounce 5.2g/t maiden resource from the Southeastern Zone, and with 68% of ounces now indicated, Ora believes it now holds an enhanced drill-density and geological understanding.

The explorer knows its large-scale position in the Abbotts Greenfield Belt is well endowed and the real challenge is to unlock structural controls for location – with the shallow resources delineated from surface at Crown Prince so far showing the allure of open-pit mining.

Chief Executive Officer Alex Passmore said that following a last year’s busy year of exploration, Ora was delighted to report its maiden Southeastern Zone resource and update its overall estimate.

“Drilling density and understanding of the deposits at Crown Prince is at a strong confidence level with 68% of the ounces reported in the indicated resource category” Mr Passmore said.

“The grade of the Southeastern Zone at 5.2g/t Au is impressive given the shallow nature, grades and good widths of mineralisation that we see.

“This area transforms the economic prospectivity of Crown Prince. The company is embarking on further drilling in 2024 with a particular focus on growing the resource inventory below 100m from surface.”

Forward plan

Both the Main and Southeastern zones remain open along strike to the east and at depth, with a new zone of mineralisation at the Prospects East now delineated over 100 metres of open strike.

Its most advanced prospect will be the immediate focus, and Ora is looking to build Crown Prince to scale by testing extensions along strike and underground to underpin more resource growth as it advances technical programs to build its value proposition for production in a seemingly unshakeable gold market.

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