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Ora Gold Ltd.
Summary
| Project: | Garden Gully | |
|---|---|---|
| Deposit: | Crown Prince | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/21/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-10-2019: Ora Gold Ltd. announces a Resource Estimation report for its Crown Prince deposit at the Garden Gully project. Updated mineral resource estimate. Ora Gold Limited (Ora Gold) is pleased to announce that the Mineral Resource estimate for the Cro | |
| Resources: | (Resource, I+I): 0.479Mt @ 3.6g/t Au for 55Koz Au contained at Crown Prince | |
| CP/QP: | [Resources]: Philip Mattinson, Costica Vieru, Philip Bruce, Brian Fitzpatrick (Internal;Cube Consulting Pty Ltd.) | |
| ABSTRACT: | Ora Gold Limited (Ora Gold) is pleased to announce that the Mineral Resource estimate for the Crown Prince deposit has substantially increased to a total of 479,000 tonnes at 3.6g/t for 55,000 ounces gold at 1.2g/t cutoff grade. A feasibility study has commenced to support the development of an initial open pit based on near surface Indicated Resources of 218,000 tonnes at 4.3g/t. The wholly-owned Crown Prince deposit is located about 18 kilometres north-west of Meekatharra in Western Australia on the Mt Clere Road (Figure 1). It is an ideal location for access, haulage and available infrastructure as a satellite ore source for a local processing plant. A Mining Lease application (ML51/886) (Figure 2) has been submitted for the project and a Mining Proposal will be prepared based on the feasibility study parameters. The 2019 Mineral Resource Estimate (MRE) was undertaken by Ora Gold, consultants and Cube Consulting Pty of Perth. Detailed information regarding input data and estimation criteria for the 2019 MRE are presented below and in the attached appendices, according to the requirements of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012 (JORC Code) and the Australian Securities Exchange Listing Rules (Listing Rules). A comparison of the 2005 and 2019 estimates of the Crown Prince MRE is shown in Table 1. | |
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