Category: Silver / Gold

Oro Gold Resources Ltd ( OGR )

Published: 05 October 2008
TSX Venture   Mining   Drill Results   Up on News  

Oro Gold drills 8.5 g/t Gold over 61 metres in New Zone at Trinidad, Mexico

Oro Gold Resources Ltd. (“Oro Gold”) (TSX-V: OGR) reports gold assay results for the recently completed 4,000 metre reverse circulation (“RC”) and core drill program at its 100% owned Trinidad property, located 110 kilometres east of Mazatlan, Mexico. These drill results indicate excellent potential to increase the gold grade and expand the new zone discovered by Oro Gold. This should have a positive impact on the previously reported 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).  Highlights of the core drill program include:

8.50 g/t gold over 61.1 metres (including 10.2 g/t gold over 40.1 metres)in 08TR012,an infill hole in the new zone
5.29 g/t gold over 23.6 metres (including 15.8 g/t over 7.3 metres)in 08TR013, a twin hole in the new zone

Highlights of the RC drill program include: 
  • 1.62 g/t gold over 100.0 metres in08TRRC040, a resource expansion hole in the new zone northeast of the pit
  • 5.70 g/t gold over 26.0 metres in 08TRRC047B, a resource expansion hole in the new zone northeast of the pit
  • 2.51 g/t gold over 18.0 metres in08TRRC037A, a resource expansion hole south of the pit
“These are extremely positive drill results,”commented Frank Powell, Vice President of Oro Gold. “The drill intersection of 8.5 g/t gold over 61 metres is very significant since it is our first core hole into the heart of a new discovery area. The results of this drill program have definitely exceeded our expectations. We are on target to reach our 2008 objectives of defining and adding new ounces to our current gold resource base. These results demonstrate outstanding upside potential at Trinidad and the entire district!”
 
Approximately 13,000 metres of RC and core drilling have been completed to date, defining Oro Gold’s first significant gold resource target on the property. The results of the recent core and RC drill program are presented hereafter.
 
Core drill program results:
Core drilling consisted of four holes (totalling 639 metres): two infill and two twin holes to confirm the RC drill results. 
 
08TR011 is an infill hole in the resource expansion area, located northeast of the pit. 
 
08TR012 is an infill hole in the resource expansion area, located northeast of the pit. The hole was abandoned 40 metres short of reaching its target depth due to bad ground conditions. The assay interval at the end of the hole returned 11.3 g/t gold. The gold values of the mineralized intervals are consistent and continuous and are higher grade than the intervals in the adjacent RC holes. The gold-bearing intervals intersected are oxidized and appear to be associated with silica and clay alteration in a clastic unit. Additional drilling is required to determine the orientation and dimensions of the new zone, which is currently open in multiple directions both vertically and laterally.
 
08TR013 is a twin of RC hole 08TRRC025 (3.3 g/t gold over 30.0 metres) located in the resource expansion area northeast of the pit. The gold assay results in core showed an approximate 50% increase in grade for the same interval in the RC hole.  
 
08TR014 is a twin of RC hole 08TRRC029 (1.7 g/t gold over 8.0 metres and 1.0 g/t gold over 22 metres).  Assay results are pending.

HOLE ID
FROM (m)
TO (m)
INTERVAL (m)
Gold (g/t)
08TR011
20.0
28.0
8.0
1.47
08TR012
151.0
212.1
61.1
8.50*
including
172.0
212.1
40.1
10.16
08TR013
147.0
148.5
1.5
1.50
 
 
157.0
180.6
23.6
5.29
including
160.9
168.2
7.3
15.76

*includes a 4m interval below 0.2 g/t gold


RC drill program results (3,363 metres):

HOLE ID
FROM (m)
TO (m)
INTERVAL (m)
GOLD (g/t)
08TRRC037A
16.0
34.0
18.0
2.51
including
24.0
28.0
4.0
10.18
08TRRC038
108.0
118.0
10.0
1.91
08TRRC039
60.0
64.0
4.0
1.86
 
128.0
148.0
20.0
1.04
08TRRC040
166.0
266.0
100.0
1.62
including
202.0
212.0
10.0
4.87
08TRRC043
200.0
212.0
12.0
1.14
 
226.0
242.0
16.0
1.02
08TRRC044
150.0
154.0
4.0
1.18
 
188.0
232.0
44.0
0.82
08TRRC045A
178.0
180.0
2.0
1.03
 
204.0
210.0
6.0
2.09
196.0
206.0
10.0
1.77
08TRRC047B
106.0
108.0
2.0
1.14
 
154.0
180.0
26.0
5.70
including
154.0
166.0
12.0
10.25
08TRRC048
262.0
265.0
3.0
1.06
Composite intervals are above a 0.2 g/t gold cut-off.
Composites below 0.5 g/t gold and less than 10 metres are not reported.

Oro Gold is currently updating the geological model and planning to complete a second resource estimate by the first quarter of 2009. 
 
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.
 
 
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
 
Suite 1400-625 Howe Street, Vancouver BC V6C 2T6
Telephone: 604 646-1580 Facsimile: 604 642-2411
www.orogoldresources.com
 

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release


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.