Inactive Instrument

ORECORP

Equities

ORR

AU000000ORR2

OreCorp : Excellent First Drilling Results for the Hobbes Gold Prospect, Eastern Goldfields, Western Australia

February 08, 2021 at 07:39 pm IST

OreCorp Limited (OreCorp or the Company) is pleased to advise that results have been received for the first two Reverse Circulation (RC) drill holes completed at the Hobbes Gold Prospect (Hobbes) and include thick high grade downhole intercepts.

HOBRC0002: 22m @ 3.22 g/t gold from 45m

HOBRC0002: 12m @ 2.20 g/t gold from 71m

HOBRC0002: 2m @ 2.42 g/t gold from 138m

HOBRC0002: 3m @ 1.34 g/t gold from 157m

HOBRC0001: 12m @ 1.49 g/t gold from 58m; Incl. 4m @ 3.39g/t gold from 64m

HOBRC0001: 4m @ 1.42 g/t gold from 106m

The Hobbes Prospect is located on licence E31/1117 (OreCorp 80%), approximately 150km northeast of Kalgoorlie, within the Company's Yarri Project area in the Eastern Goldfields of Western Australia.

The results are encouraging and validate the robust nature of high grade supergene and primary gold mineralisation at the Hobbes Prospect. It also demonstrates the Company's ability and strategy of identifying and acquiring highly prospective tenements in the Eastern Goldfields.

The RC drill program is now complete and comprised 17 holes at the Hobbes Prospect and four holes at the Quondong Prospect (both located within the Yarri Project). At Hobbes, the program aimed to confirm and test the strike length and lateral continuity of both the supergene and primary gold mineralisation, in addition to increasing the confidence in the geological and gold mineralisation models.

These new results combined with the historical drilling (refer to ASX Announcement dated 15 April 2019 'March 2019 Quarterly Reports') indicate that the supergene and primary mineralisation extends for at least one kilometre along strike and at least 400m across and is still open to the southeast.

Contact:

Matthew Yates

Tel: +61 (0) 417 953 315

ABOUT ORECORP LIMITED

OreCorp Limited is a Western Australian based mineral company with gold and base metal projects in Tanzania, Western Australia and Mauritania. OreCorp is listed on the Australian Securities Exchange (ASX) under the code 'ORR'. The Company is well funded with no debt. OreCorp's key projects are the Nyanzaga Gold Project in northwest Tanzania and the Yundamindra, Yarri (including Hobbes), Kalgoorlie (including Ringlock Dam) and Ponton Projects in the Eastern Goldfields of WA. OreCorp is seeking a joint venture partner for the Akjoujt South Nickel-Copper-Cobalt Project in Mauritania and has an active project acquisition program.

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Company Profile

OreCorp Limited is an Australia-based mining exploration company. The Companyâs key project is the advanced high-grade multi-million-ounce Nyanzaga Gold Project in northwest Tanzania. The Nyanzaga Gold Project is an advanced development project in the Archaean Greenstones of the Lake Victoria Goldfields of northwest Tanzania. The Nyanzaga Gold Project is situated approximately 60 kilometers (km) southwest of the city of Mwanza, 60 km east of the Geita Gold Mine and 30 km northeast of the Bulyanhulu Gold Mine (Barrick Gold). The project comprises the Special Mining License (SML), which covers approximately 23.4 square kilometers and encompasses the Nyanzaga and Kilimani deposits and other exploration prospects.

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