Ora firms up base metal hits, makes surprise gold discovery
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Special Report: Ora Gold looks set to have some interesting times ahead after assays confirmed the discovery of volcanogenic massive sulphide (VMS) base metal mineralisation.
Results from the initial reverse circulation drilling program on the Government Well prospects in the Abbotts Greenstone Belt near Meekatharra, Western Australia, established the presence of two broad zones of shallow VMS-style mineralisation at the CVG prospect and a wide gold structure at the CVI prospect.
Ora Gold (ASX:OAU) said that while the broad base metal mineralised zones were mostly of an anomalous (low) grade, the widths and strike extent of the zones, the metal signature and mineralisation outline all indicated the strong possibility of significant mineralisation at depth.
Deeper drilling has commenced to depths of between 200m and 250m to follow up the base metal and gold hits from earlier drilling at the CVG prospect which delineated two parallel zones with VMS-style metal characteristics and widths of up to 30m.
Notable results from the earlier drilling include a 2m zone grading 1 per cent copper and 3.1 per cent zinc from a depth of 101m, 1m at 1.4 per cent copper from 84m and 5m at 1.1 per zinc within a broader near-surface intersection of 40m at 0.6 percent zinc.
Ora noted that these results correlated with and extended previous portable XRF readings, which provided an early picture of a potential find.
These zones strike north-northeast and dip steeply west while remaining open along strike and down dip.
Results also led to the discovery of a north-northeast striking gold mineralised structure more than 20m wide at the CVI prospect. Previous XRF readings had only indicated anomalous arsenic and silver at the prospect.
The Government Well prospects are located at the northern end of the Abbotts Greenstone Belt and have a similar geological setting and age to base metal deposits in the Yilgarn Craton.