Ora Gold (ASX:OAU) Reports “Excellent” Gold Results on Kingswood and Transylvania Prospects – The Market Herald
- Ora Gold (OUA) Reports “Excellent” Gold Results on Three Prospects at Its Garden Gully Gold Project in Western Australia
- The recent air drill program completed 44 holes, for 2792 meters, across four prospects
- The best results were identified on the Transylvania and Kingswood prospects
- Drilling at Lydia North has been postponed due to wet ground conditions and will be completed during the next drill program
- Shares closed up 14.29% today at 1.6 cents
Ora Gold (OUA) announced “excellent” gold results from three prospects at its Garden Gully gold project in Western Australia.
The recent air drill program completed 44 holes, for 2792 meters, across four prospects.
At the Transylvania prospect, 14 short, vertical drill holes were completed with most of the mineralized shear zones intersecting.
Transylvania’s best results were 26 meters at 2.3 grams per tonne (g/t) gold at 26 meters, including seven meters at 5.36 g/t gold at 31 meters.
At the Kingswood prospect, 23 air drill holes were completed, several styles of mineralization were encountered and most of the gold values were hosted by the competent felsic intrusive/tonalite.
The best results from the prospect were 15 meters at 1.97 g/t gold at 51 meters, including 13.8 g/t gold at 45 meters.
At the Crown Prince East Gold Prospect, six holes were drilled in a northeast direction with several narrow intervals of gold mineralization intersected.
Finally, only one hole was drilled at the Lydia North prospect due to wet ground conditions. The remaining proposed holes have been deferred and will be completed during the next drill program.
President Rick Crabb said the results show the project’s continued potential.
“We are very encouraged by these results as the majority of the gold intersections are at shallow depth and the mineralization remains open with strong potential for open pit development,” he said.
“We are particularly excited about the company’s first drilling on the Kingswood prospect in the Abernethy Shear Zone, which is a large seven kilometer long mineralized structure incorporating intrusive tonalite.”
Shares closed up 14.29% today at 1.6 cents apiece.