Progress Towards Development
Ora Gold (ASX: OAU) is advancing its Crown Prince Project, part of the larger Garden Gully tenure, with plans to begin production by mid-2025. The company is currently focused on several work streams, including securing regulatory approvals and completing infill drilling to prepare for an upcoming ore reserve announcement.
Infill Drilling Results
The infill drilling program was designed to target mineralization zones within a proposed pit design at Crown Prince. These zones were previously classified as inferred mineral resources. Ora Gold has now received assay results from a comprehensive 7,500-meter, 66-hole reverse circulation drilling program.
The objective of this drilling was to better define the mineralized lodes within the southeastern zone (SEZ) deposit. Significant results from the drilling include:
- 20 meters at 277 g/t gold from 40 meters, including 4 meters at 1,368 g/t gold from 52 meters (OGGRC859).
- 15 meters at 14.7 g/t gold from 152 meters (OGGRC872).
- 9 meters at 21.44 g/t gold from 28 meters, including 2 meters at 77.8 g/t gold from 31 meters (OGGRC883).
These results indicate the discovery of new high-grade zones and additional parallel lodes in both the footwall and hanging wall of the SEZ mineralization.
Future Prospects
The newly identified zones are expected to enhance the mineral resource and future mining inventory for the Crown Prince deposit. The strong grades from the infill drilling may also lead to an increase in the overall average grade for the resource, supporting previously published grades.
Ora Gold CEO Alex Passmore expressed confidence in the results, stating, “These high-grade headline results demonstrate the high-quality nature of the Crown Prince Project and indicate its strong potential economics during development and production.” He added that further updates on the resource estimate and ore reserve are expected in the coming weeks.
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