Orogen Gold PLC High-grade Gindusa West - further discoveries (1165M)
21 August 2013 - 8:00AM
UK Regulatory
TIDMORE
RNS Number : 1165M
Orogen Gold PLC
21 August 2013
21 August 2013
Orogen Gold
("Orogen" or the "Company")
High-grade Gindusa West prospect- further discoveries
Orogen Gold (AIM:ORE), the AIM-quoted mineral exploration
company, reports further trench results at the recently discovered
Gindusa West gold prospect within the historic Deli Jovan mining
district in Serbia. The Company is now moving towards drill testing
these recently discovered near-surface targets.
Highlights:
-- Trenching exposes multiple gold-bearing shears along east-west structure at surface
-- Mineralised zones extend up to 13m in width; Au grades range from 1.44-29.55g/t Au
-- Shallow drill testing of newly discovered targets to commence imminently
Ed Slowey, Chief Executive of Orogen, commented: "Trenching at
Gindusa West has discovered a gold-bearing structure with multiple
shears within zones substantially wider than anything recorded
previously in the district and which locally includes zones of high
gold grade. The drilling programme which is about to commence will
help define continuity and grade of the system at relatively
shallow depths, giving an indication of the potential to establish
a near-surface mineral resource that could be open-pittable.
Further news will follow as drilling progresses."
Gindusa West prospect, Deli Jovan
Further step-out and infill trenching and mapping at Gindusa
West has indicated that the main gold-mineralised, steeply
north-dipping east-west shear structure intersected in trench TAG-2
late last year, extends for at least 360m. Widths range from
1.0-13.0m and gold grades range from 1.44-29.55g/t.
The zone remains open to the west and appears to splay to the
east into multiple mineralised structures towards the area of the
old underground exploration adit where three gold vein zones were
intersected in a short drilling programme in 2012. Please follow
the link below for the drilling plan:
http://www.rns-pdf.londonstockexchange.com/rns/1165M_-2013-8-20.pdf
Significant gold-bearing intervals across the main structure and
associated branch structures are summarised in the table below from
west to east (including trench TAG-2 reported previously):
Interval Grade (Au
Trench No. (m)* g/t)
------------ --------- ----------
GWA T11 1.0 1.44
------------ --------- ----------
GWA T6 1.0 1.48
------------ --------- ----------
GWA TAG-2 8.0 12.28
------------ --------- ----------
incl. 3.0 29.55
------------ --------- ----------
GWA TAG-2' 6.0 3.98
------------ --------- ----------
incl. 2.0 9.27
------------ --------- ----------
GWA T12 7.0 4.78
------------ --------- ----------
incl. 1.0 8.99
------------ --------- ----------
and 1.0 21.50
------------ --------- ----------
GWA T10 13.0 2.84
------------ --------- ----------
Incl. 2.0 14.50
------------ --------- ----------
GWA T10 3.0 3.76
------------ --------- ----------
GWA T10 2.0 5.96
------------ --------- ----------
GWA T3 2.0 5.59
------------ --------- ----------
incl. 1.0 10.35
------------ --------- ----------
*True widths may be less, as some mineralised zones are partly
oblique to trenches
In addition, trenching to the north and northwest of the main
structure has located two noteworthy gold intercepts which were
reported previously: GWA T6 - 3.5m @ 61.42g/t Au (including 2.0m @
107.0g/t Au) and GWA T8 - 2.0m @ 5.76g/t Au (including 1.0m @
8.88g/t Au). Sample results are awaited from a further trench in
this area. Initial testing of another gold-in-soil anomaly in
trench T2 to the northeast of the main structure located a new
shear/vein system assaying 7.71g/t Au over 2.0m.
A contract has been signed with a local drilling contractor for
an initial minimum 1,000m of diamond drilling to test the shallow
depth extensions of the main structure and associated splays at
Gindusa West. Drilling is expected to commence within the next
seven days.
Sampling, Assaying, and Quality Assurance / Quality Control
Trenching and continuous chip/channel sampling of the trenches
has been carried out by an experienced exploration team under
Orogen's control. Samples were assayed at the ISO 17025 accredited
ALS Minerals analytical laboratory in Rosia Montana, Romania. QA/QC
was ensured throughout the sample handling process and by the
insertion of certified standards and blank samples, as well as by
in-house laboratory checking.
-ENDS-
Approval
Ed Slowey, CEO of Orogen, is a Competent Person as defined by
various international instruments and takes responsibility for the
release of this information.
Enquiries:
Orogen Gold Plc +353 1662 8395
Ed Slowey, CEO
Alan Mooney, FD
WH Ireland Limited (Nominated Adviser and +44 (0) 20 7220 1666
Joint Broker)
Tim Feather
James Bavister
XCAP Securities plc (Joint Broker) +44 (0) 207 101 7070
Jon Belliss
Walbrook PR and IR +44 (0) 207 933 8795
Bob Huxford/ Guy McDougall (Public Relations)
Paul Cornelius (Investor Relations)
About Orogen Gold
Orogen Gold plc is a UK public company quoted on the London
Stock Exchange AIM market (ticker: ORE). The Company's activities
are focused on mineral exploration and development in Europe. The
Deli Jovan gold exploration district in Serbia is the Company's
main operational project. The historic high-grade gold mining camp
was last in production prior to World War II and has been
significantly under-explored in modern times. In addition, Orogen
has an option over the Mutsk project in Armenia and is undertaking
a due diligence study to confirm a new epithermal gold discovery
reported from shallow drilling on the property.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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