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.

OAU Map Online

Regional positioning map

[mstock id=”13750″]

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified. 

We are a boutique environment – the home of uncompromisingly high-quality brands spanning news, opinion, and interaction, priding ourselves on promoting discussion and understanding that facilitates growth. We work closely with our clients to really understand what they are trying to achieve and use best practice available to do that!

Contact info

Suite 3, 47 Havelock Street
West Perth WA 6005
info@marketopen.com.au

Stewart Walters
Managing Director
stewart@marketopen.com.au
+61 414 644 166

Amanda Ellis
Chief Content Producer
amanda@marketopen.com.au
+61 438 003 868

Important links

Follow us