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Ora Gold launches feasibility study for Crown Prince after resource increase

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Ora Gold launches feasibility study for Crown Prince after resource increase

Ora Gold Ltd. launched a feasibility study for its Crown Prince gold deposit, part of the Garden Gully project in Western Australia, after reporting an increase in the deposit's resources.

The deposit now hosts total indicated and inferred resources of 478,960 tonnes grading 3.64 g/t of gold for 55,990 ounces of gold, at a 1.2 g/t cutoff grade.

The company said Oct. 21 that the study will focus on supporting the development of an initial open pit based near the indicated resource, followed by underground mining.

It added that an ore reserve estimate will be conditional on the outcome of the study and prevailing economic conditions.

Drilling data used for the estimate was a subset of the Garden Gully database. Ora Gold said that it validated the results from historical documentation and drill programs in 2017 and 2018.

Formerly known as Thundelarra Ltd., Ora Gold decided in January to focus on the low-cost development of the Garden Gully and Abbotts tenements instead of exploring for a large resource.