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Ora Gold shares surge on sampling high-grade copper and silver at Government Well

The company's shares are trading about 63% higher intra-day, at 1.3 cents.

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Further work is planned including a local ground electromagnetic survey and follow up drilling

Ora Gold Ltd (ASX:OAU) has confirmed high-grade assay results from a new copper-silver-gold prospect five kilometres north of the Abbotts gold deposit in Western Australia.

The company’s initial rock sampling program over the Government Well area has returned high-grade copper and silver assays along with moderate gold results.

Location plan of the Government Well copper-silver-gold prospect

Notably, copper assays of up to 19.5% were associated with silver assays up to 275.5 g/t and over 1 g/t gold.

The rock sampling was over a number of small pits which have oxidised base metal material that has been identified as milled breccia. Results include:
• 14.0% copper, 52.1g/t silver and 1.1g/t gold;
• 14.0% copper, 62.5g/t silver and 1.2g/t gold; and
• 19.5% copper, 275.5g/t silver and 1.2g/t gold.

The 1.5-2 kilogram rock samples were picked up from the spoil heaps of the old pits

An additional tenement has been applied for north of the Government Well prospect and further work is planned including a local ground electromagnetic survey and follow up drilling.

Government Well Prospect

The prospect is located at the northern extremity of the Abbotts greenstone belt on the wholly-owned E51/1609 tenement.

Local geology includes typical greenstone belt lithology with black shale horizons and felsic and mafic/ultramafic rocks.

A late-stage Archaean porphyry has intruded the package about 800 metres from the prospect.

READ: Ora Gold confident of extending gold mineralisation at Abbotts project

Quick facts: Ora Gold Ltd

Price: 0.022 AUD

ASX:OAU
Market: ASX
Market Cap: $14.21 m
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