EXPLORATION & DEVELOPMENT

Orca hits 123m at 1.96g/t gold

Testing new geological interpretation at Block 14

Staff reporter

This article is 6 years old. Images might not display.

Among the highlights, Orca intercepted 123m at 1.96g/t gold and 50m at 3.05g/t.

The company had upped the project's resource in January to an indicated 3.05 million ounces of gold and has a feasibility study due out in May.

"Although the drill database had to be cut off at the end of 2017 for the purposes of our feasibility study, we are confident that ongoing drilling this year will materially increase resources in the current designs and significantly add to the global resource at GSS," CEO Richard Clark said.

The new modelling was partly based on a reinterpretation of previous drilling, and 25 of 27 holes drilled to date on the new azimuth successfully intersected mineralisation, some in areas where the block model had lacked data and the material was regarded as waste.

The current drilling programme has also delivered strong results from the Wadi Doum area at Block 14.

Orca shares rose 10% yesterday to C66c, capitalising the company around $103 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.