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Golden Ore Holding Provides an Update on Work Programs and Exploration Activities Underway at the Seniagya and Dua-Yaw Gold Projects, Ghana

December 2022 update:

Mineral Resource Update to be Released in 2023; Trenching Proving Out the Potential for Discovery and Future Resource Growth Across the Project

Golden Ore Holding is pleased to provide an update on work programs and exploration activities underway at the Company’s 100% owned Seniagya and Dua-Yaw Gold Project in Ghana. Current activities focused on de-risking and advancement of the Project include:

  • Completion of an updated Mineral Resource Estimate to be released in March 2023;
  • Diamond drilling underway at the Seniagya and at Dua-Yaw, following up on high-grade results from prior drilling of the upper sulphide mineralization.
  • Trenching on several kilometer-scale gold anomalies to continue to advance early-stage targets across the Project towards the drill testing stage.
  • Continued metallurgical test work, including testing of sulphide mineralization.
  • Completion of an updated environmental and social baseline study in H1 2023.

Highlights from Work Programs and Exploration Underway at Seniagya

  • Mineral Resource Update Underway with Completion in January 2023, incorporating results from a portion of the drill program completed in mid-2022. From this drilling a portion was included in the 2021 MRE. Some of the remaining portion is focused on earlier stage targets that highlight the future resource growth potential at Seniagya and will be incorporated into future mineral resource updates. Completion of an updated MRE is scheduled for January 2023 as the Company’s resource consultant completes incorporation of all new drilling data and recently completed surveys. It is anticipated that incorporating the recently completed survey will upgrade a portion of the MRE and further de-risking the Project.
  • Golden Ore Holding is funded to complete the current work program at Seniagya (commenced 2022) with cash and short-term investments at the end 2022.
  • Drilling Underway Targeting High-Grade Potential at Seniagya. The drilling underway at the property is following-up on high-grade mineralization identified in the upper portions of the sulphide mineralization, continuing to define the potential for high-grade underground mineralization at Seniagya. Results anticipated early in 2023.
  • Trenching Intersected Mineralization at Early-Stage Targets, providing additional drill targets for discovery. First pass trenching of kilometre-scale gold-in-soil anomalies encountered strong results.
  • Metallurgical Test work and Updated Baseline Environmental and Social Study underway as part of broader activities at Seniagya designed to continue to advance and de-risk the Project.
At Golden Ore Holding, we will continue to be active on numerous fronts advancing and de- risking the Seniagya and Dua-Yaw Gold Project. An updated MRE, incorporating the significant amount of drilling completed, is targeted for completion in March 2023. We are also thrilled to be back and drilling with the first phase of this drill program targeting the higher-grade potential of the sulphide mineralization that we first encountered. Testing the high-grade and depth potential of the sulphide mineralization is a priority as part of defining the potential for gold mineralization at Seniagya and Dua-Yaw on the same scale and magnitude as the significant gold deposits along the Sefwi-Bibiani and Ashanti gold belt.

We believe the extensive trenching program recently completed, has defined multiple gold mineralized structures in a series of kilometre-scale gold-in-soil anomalies. This sets the stage for future first pass drilling on additional early stage targets at Seniagya with an objective of proving out the potential for additional new discoveries across the Project. There is additional work underway, consisting of further metallurgical testing, a baseline environmental study and a survey, are important steps in continuing to de-risk and advance the Project for future economic studies."

  • An updated MRE is underway, and we anticipate the results from the drill in mid-2023.
  • The Company anticipates that the drill results will be additive, and focus will be on testing existing deposit areas along strike and at depth. The remaining area targeted earlier stage targets highlighting the potential for future resource growth at Seniagya as Golden Ore continues to prove potential of the over 300 km 2 property. Completion of the updated MRE is mid-2023.
  • Drilling Targeting High-Grade Sulphide Mineralization Drilling is underway testing the at Seniagya, following-up on high-grade intercepts intersected in the upper portions of the sulphide mineralization. A series of test holes are planned January 2023. Golden Ore Holding is advancing its Seniagya Gold Project located in Ghana, West Africa’s near one of Africa’s largest gold producers. We offer investors a unique combination of top-tier leadership and prime district scale exploration opportunities. Over 300 km 2 land area on two of Ghana’s most prolific gold belts which hosts several 5- million-ounce gold deposits. Golden Ore’s vision is to build a responsive, creative, and powerful gold enterprise that maximizes returns for shareholders.