TIDMORE
RNS Number : 3495P
Orogen Gold PLC
03 October 2011
3 October 2011
Orogen Gold Plc ('Orogen' or 'the Company')
Results of Soil Sampling Programme and Deli Jovan Project
Update
Orogen Gold Plc (AIM:ORE) the AIM listed mineral exploration
company, focussed on gold exploration and development in eastern
Europe, announces the results of the recent soil sampling programme
and an operational update on progress in the re-opening of access
to the Deli Jovan gold mines in eastern Serbia which were last in
operation more than 70 years ago.
Highlights
Soil sampling
-- Nearly 3,000 soil samples taken in previously unexplored area
between the historic Rusman and Gindusa mines
-- Several gold anomalies including one which traces the
potential for a 500 metre extension to the northwest of the Rusman
mine
-- Two additional separate 300 metre long gold anomalies at the
centre of sample grid
-- A substantial one kilometre long linear gold anomaly
southeast of Gindusa requiring further appraisal due to its'
proximity to the old mine workings
Re-opening of access to mines
-- Re-opening of access to Deli Jovan gold mines progressing
well and to schedule. This is being achieved through a shaft
refurbishment at the two historic gold mines.
-- Access secured to first 30 metre working level at Rusman
mine; detailed mapping and sampling set to commence. Dewatering
continues to expose deeper production levels for further
exploration.
-- Re-opening of Gindusa mine shaft also progressing well, with
clearing and refurbishment currently more than half way towards the
first 30 metre mining level.
Soil Sampling
Orogen has undertaken a programme of detailed soil sampling
totalling almost 3,000 samples on a 100 metre x 20 metre grid
spacing covering a five kilometre strike length of the Deli Jovan
shear structure, between the Rusman and Gindusa mines. The aim of
the programme was to identify previously unknown or unworked gold
veins in the district, hidden beneath overburden cover. While some
trial gold and copper diggings are recorded in the area there are
no previous records of any production from this belt, most of which
has never been explored in modern times. Orogen is pleased to
announce that the results of analyses for gold and multi-elements
show several potentially significant features of interest for
follow-up.
The results include a zone of gold soil anomalies, with partly
coincident copper and arsenic anomalism, along a strike length of
approximately 500 metres to the northwest of the Rusman mine.
Copper and low-level arsenic often accompany gold in the vein
systems at Deli Jovan and can be useful accessory minerals for
confirming the presence of mineralised structures. Several small
workings are known in this area, including the Seliste copper-gold
prospect, where previous grab samples from dump material have
ranged from 0.2 to 41g/t Au and trace to 4.72% Cu(1) . The
coincident zone of workings and anomalous soils may represent a
continuation of the Rusman mineralised structure.
Towards the centre of the sample grid, two additional separate
gold anomalies covering strike lengths of approximately 300 metres
each are supported by anomalous copper and arsenic values. These
are not associated with previously known gold workings and may
represent hidden mineralised structures.
As expected, sampling over the vicinity of the Gindusa gold mine
shows a substantial gold anomaly. Much of the anomalism could be
attributable to contamination from the historic mine operations,
alternatively this could point to extensions to the southeast
beyond the mined area. A further one kilometre long linear gold
anomaly extends to the south-southeast of the mine, aligned with a
local access road, but extending beyond the road. This needs to be
investigated to establish whether it is related to the former
mining operations or represents a previously unrecorded
structure.
All soil anomalies will be checked in the field and follow up
programmes will be undertaken, leading to subsequent diamond drill
testing of confirmed targets.
_____________________
(1) Grab sampling by Reservoir Capital Corporation, 2006
Sampling, assaying, and QA/QC
Orogen's soil sampling programme conforms to industry-wide good
practice, with chain of custody being observed for all samples.
Gold and multi-element analysis is undertaken by ALS Chemex at its
laboratories in Romania and Vancouver and the Company maintains
QA/QC on all analytical work via the use of certified reference
materials, field duplicates, and blank samples in addition to
monitoring of internal laboratory check-analyses.
CEO Ed Slowey, PGeo, EuroGeol is a Competent Person as defined
by various international instruments and takes responsibility for
the release of this information.
Ed Slowey, CEO, commented:
"The Company's main focus is on the re-opening of access to the
previously worked mines to facilitate detailed structural mapping
and sampling. We are very pleased with the operational progress to
date and the good condition of the underground workings which will
facilitate our exploration programme."
"We undertook the soil sampling programme to assess the untested
potential for additional mineral occurrences between the two mines;
we are delighted with the results we've received to date. Whilst
there is yet no guarantee that anomalies discovered will lead to a
direct increase in our asset base, we could well have uncovered
significant extensions to the historically worked deposits as well
as previously unknown gold-bearing structures at Deli Jovan. "
"We look forward to further updating shareholders with news on
all fronts, as and when we are in a position to announce."
Deli Jovan Update and Reopening of Access
The Company continues to make substantial progress on its
exploration programme over the Deli Jovan gold mining district in
eastern Serbia. Reopening of access to the two main historic mines
at Rusman and Gindusa is being carried out by a Serbian mining
contractor.
At Rusman, the larger of the two mines, the shaft which is
reported to have been sunk to 90 metres depth has now been cleared
and drained to 62 metres below surface. The shaft has proven to be
larger than anticipated, suggesting that this was the main
production shaft at the mine during operations that spanned the
turn of the 20(th) Century and the pre-World War II period. The
contractor has completed the re-lining of the shaft and the
installation of services to the first operating level at 30 metres
depth, allowing access for detailed mapping and sampling of the
mineralised quartz vein shear system to commence along more than
250 metres of strike extent. This work will be carried out over the
coming weeks and will continue to the lower mine levels as these
are dewatered and made safe.
At the Gindusa mine, re-opening and lining of the main shaft is
now at 16 metres depth, with the first working level here also
expected at 30 metres. At the present rate of progress,
breakthrough to the 30 metre level is expected shortly. When
accessed, a similar programme of detailed mapping and sampling is
proposed as at Rusman. Both mine shafts have now been prepared for
winter conditions which will allow year-round access.
Joint venture
Under an Earn-in Agreement with TSX-V listed Reservoir Capital
Corporation, Orogen Gold has the right to an initial interest of 55
per cent in the Deli Jovan Gold Project by committing C$1.5 million
on exploration expenditure by 23 June 2012 and a further 20 per
cent interest can be earned through an additional C$2.0 million
commitment by 23 December 2013, giving Orogen Gold a potential
aggregate interest in 75 per cent of the Deli Jovan Gold
Project.
Orogen Gold Plc
Ed Slowey, CEO
Alan Mooney, FD +353 1662 8395
--------------------------------- ---------------------
Zeus Capital Limited
Nominated Adviser and Joint
Broker
Ross Andrews/Tom Rowley +44 (0)161 831 1512
--------------------------------- ---------------------
XCAP Securities Plc
Joint Broker
John Grant/Karen Kelly +44 (0) 207 101 7070
--------------------------------- ---------------------
Hansard
Financial PR
Guy McDougall/ Nicholas Nelson +44 (0) 207 245 1100
--------------------------------- ---------------------
Notes to Editors
The Deli Jovan gold project is in eastern Serbia, the site
comprising two shallow underground gold mines at Rusman and
Gindusa, about 6 kilometres apart along a major shear zone, that
were last in production over seventy years ago.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLFLEATIIVIL
Orogen Gold (LSE:ORE)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Orogen Gold (LSE:ORE)
Historical Stock Chart
Von Jul 2023 bis Jul 2024