Preheat the oven to 450 degrees F (220 degrees C).

In a medium bowl, stir together the flour, 1/2 teaspoon of sugar, and salt. Rub in shortening between your fingers, forming evenly small lumps no larger than peas. Stir in water until dough can form a ball. Knead briefly to pull it together, then let rest for a few minutes. Roll out the dough to a about a 12 inch circle. Fit into a 9 inch pie plate, and prick with a fork. Top with another pie plate, and flip over. This method works best with thinner metal pans than glass pans.

Bake the crust for 8 to 10 minutes in the preheated oven, or until golden. Cool, then flip back into the original pan. This process keeps the crust from sagging down into the pan without using pie weights.

Meanwhile, stir together the cornstarch and 1 cup of sugar in a saucepan. Stir in the orange juice, water and lemon juice. Warm over medium heat, stirring occasionally until thickened and clear. Remove from heat, and chill.

To assemble the pie, alternate layers of fresh sliced peaches with the chilled citrus sauce, beginning and ending with the sauce. Serve with whipped cream or ice cream.