- Ora Gold (OAU) receives results from its recently completed reverse circulation (RC) drilling program at the Transylvania Prospect in Western Australia
- A total of 24 holes were drilled to test the central part of a sub-audio magnetic target previously defined over an area of old workings
- The majority of the holes intersected mineralised shear zones with grades peaking at 10.37 grams of gold per tonne (g/t) gold
- The results demonstrate the high-grade potential of the mineralisation over a strike of at least 180 metres which remains open in both directions
- Shares in Ora Gold are up 6.25 per cent on the market and are trading at 1.7 cents at 2:41 pm AEST
Ora Gold (OAU) has received results from its recently completed reverse circulation (RC) drilling program at the Transylvania Prospect.
The Transylvania Prospect is part of the Garden Gully Project which lies 20 kilometres north-northwest of Meekatharra in Western Australia.
A total of 24 RC holes, for 1617 metres, were drilled at Transylvania with the majority intersecting mineralised shear zones.
This drilling tested the central part of a sub-audio magnetic (SAM) target which was previously defined over an area of old workings.
Best new results include six metres at 5.94 grams of gold per tonne (g/t) from two metres including three metres at 10.37g/t gold from two metres; and four metres at 4.32g/t gold from 49 metres including one metre at 10.14g/t gold from 49 metres.
According to Ora Gold, these results demonstrate the high-grade potential of the shallow supergene mineralisation over a strike of at least 180 metres which remains open in both directions.
Chairman Rick Crabb is pleased with these results as they reinforce the nature of the Garden Gully Project.
“The recent drilling results from Transylvania further reinforce that our Garden Gully Project is a significant gold-bearing province with high-grade intercepts from surface, lower strip ratios and potentially reduced working capital,” Mr Crabb commented.
Shares in Ora Gold were up 6.25 per cent on the market and are trading at 1.7 cents at 2:41 pm AEST.