Oro Gold Resources Ltd. ("Oro Gold") (TSX VENTURE:OGR) reports gold assay results for a third twin core hole of the recently completed 4,000 metre drill program at its 100%-owned Trinidad property, located 110 kilometres east of Mazatlan, Mexico.
08TR014, a core twin of a reverse circulation ("RC") hole located in the new zone northeast of the Taunus pit, intersected:
- 5.3 g/t gold over 7.8 metres from 106.2 to 114.0m and 9.7 g/t gold over 7.0 metres from 131.0 to 138.0m
The core hole is a twin of RC hole 08TRRC029 which had two corresponding intervals: 1.7 g/t gold over 8.0 metres compared to 5.3 g/t gold over 7.8 metres in the core hole, and 1.8 g/t gold over 8.0 metres compared to 9.7 g/t gold over 7.0 metres in the core hole.
This confirms a significant increase in gold grade of over 300% in the core interval for the same mineralized interval in the RC hole. Figures of the drill holes and core photos, as well as a technical discussion of the results can be viewed on Oro Gold's website.
"All of the core twin holes drilled to date show significantly higher gold grades than reported in the same intervals drilled by RC. We are very excited about these results as it is demonstrating a positive impact on the grade and potential upside of the Taunus gold deposit. It is important to note that the majority of the previous drilling and resource estimation relied on RC drilling. These results show that RC drilling is a good exploration tool, but appears to substantially underestimate the gold grade of this deposit," commented Frank Powell, Vice President of Oro Gold.
Fine-grained, free gold has been observed in core and in gravity concentrate samples of the RC chips. The higher grade gold assays of the core samples in comparison with the RC samples for the same drill interval are interpreted to be due to poor recovery of fine material in wet RC drilling. Preliminary gravity metallurgical testwork on four composite drill sample intervals indicates that 30 to 60% of the gold is recoverable by gravity separation after grinding to 80% -150 mesh.
Oro Gold has reported an inferred mineral resource of 200,930 ounces gold (4.5 million tonnes at 1.4 g/t gold announced in Oro Gold's press release dated July 2, 2008) and is planning to update the resource by the first quarter of 2009.
Oro Gold will hold a webcast on Thursday, Oct. 16th at 1:00 p.m. (Pacific) to allow shareholders and investors to hear management discuss the company's latest drill results at its Trinidad property. The webcast can be accessed at Oro Gold's website at www.orogoldresources.com.
Dominique Fournier, Ph.D., economic geology, a qualified person as designated by National Instrument 43-101, has reviewed the technical contents of this release. Drilling was under the direction of Frank Powell, Oro Gold's Vice President. A thorough quality assurance and quality control program (QA/QC) protocol was utilized on the project including duplicate, blank and standard samples with each batch of assays. RC chip samples were submitted directly to Inspectorate de Mexico, S.A de C.V., for preparation in Durango, Mexico, and analysis in Reno, Nevada. Analysis was conducted on 1 assay ton samples, with one standard, one duplicate and one blank sample inserted every 30 samples. Analysis of gold was by fire assay, with a gravimetric finish on samples exceeding 3 g/t gold. The gravimetric assay results were used for the reported composite intervals. Gravimetric metallurgical test work was conducted on RC field duplicates. Samples were shipped directly to McClelland Laboratories in Sparks, Nevada. Samples ranged in size from 6-8 kilos and were crushed to 80% -150 mesh. Three fractions were separated by gravity method and individual fractions were assayed by 1 assay ton fire assay with a gravimetric finish on samples exceeding 3 g/t gold.
About Oro Gold
Oro Gold is a gold exploration company with 12 properties located in Mexico and Panama, with 5 of the properties optioned to joint venture partners. The district scale 651 km2 Trinidad property continues to be the company's top priority project and the main focus of exploration and resource definition efforts. Ongoing generative activity and a joint venture strategy will continue to be a fundamental part of Oro Gold's growth. Oro Gold's focus is to increase shareholder value through the discovery and definition of low-cost & quality gold resource ounces on our advanced stage properties.
ON BEHALF OF THE BOARD OF DIRECTORS
Darren Bahrey, President and CEO
Some statements in this release may contain forward-looking information. These statements include, but are not limited to, statements with respect to future exploration, development and production activities and future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the time and success of future exploration, development and production activities and the timing and amount of expenditures.
SOURCE: Oro Gold Resources Ltd.
Oro Gold Resources Ltd. Darren Bahrey President and CEO (604) 646-1580 (604) 642-2411 (FAX) Website: www.orogoldresources.com