Orca Gold (ORG.V) has announced an update on its exploration efforts at Galath Sufar South, a part of its Block 14 license in South Sudan, Africa. Since announcing a resource estimate containing 2.3 million ounces of gold at an average grade of in excess of 1.85g/t, the company has continued its exploration efforts as it has drilled in excess of 7,400 meters with RC and diamond drill rigs and has completed in excess of 7,400 meters in trenching.
This has resulted in numerous additional exploration targets within walking distance from the current resource estimate at GSS, which have the potential to increase the currently known resource estimate substantially as Orca Gold has intercepted for instance 17 meters at 6.21g/t gold (with a cap of 10g/t) and 24 meters of 2.78g/t.
As Orca Gold has in excess of $40M in cash, the company is in an excellent position to continue its exploration efforts at a fast pace, and it’s not unthinkable the GSS project will ultimately contain in excess of 5 million ounces.
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Disclosure: The author holds no position in Orca Gold. Please see our disclaimer for current positions.
