- Ora Gold (OAU) achieves an important milestone in the granting of mining leases for its Crown Prince and Lydia gold projects
- The Department of Mines, Industry, Regulation and Safety have granted the leases for a period of 21 years until 2043
- Ora Gold says this is an important milestone in the company’s proposed development of Crown Prince which is located about 18 kilometres northwest of Meekatharra in WA
- A mineral resource update and positive scoping study have been completed at the project
- Shares in Ora Gold were trading flat at 1.8 cents at market close
Ora Gold (OAU) has achieved an important milestone in the granting of mining leases for its Crown Prince and Lydia gold projects.
The Department of Mines, Industry, Regulation and Safety have granted the leases for a period of 21 years until 2043.
Ora Gold says this is an important milestone in the company’s proposed development of the Crown Prince Gold Project which is located about 18 kilometres northwest of Meekatharra in Western Australia.
A mineral resource update and positive scoping study have been completed at Crown Prince.
Historical production was 29,400 tonnes for 20,178 ounces at a recovered grade of 21.7 grams of gold per tonne (g/t) to a depth of 90 metres.
The unmined supergene halo and other zones provide a mineral resource estimate for Crown Prince.
The estimate is only to a depth of 270 metres and used block modelling with ordinary kriging interpolation, a block cut-off grade of 1.2g/t gold and a top cut of 30g/t gold.
It is a combination of indicated and inferred resources to a 100-metre depth and inferred resources for deeper mineralisation.
Further drilling and development of deeper high-grade mineralisation and newly identified parallel zones may increase the mineral resource estimate.
Shares in Ora Gold were trading flat at 1.8 cents at market close.