Orogen Gold PLC Mobilisation of drill rig (5522L)
07 Juli 2014 - 8:00AM
UK Regulatory
TIDMORE
RNS Number : 5522L
Orogen Gold PLC
07 July 2014
Orogen Gold plc
("Orogen" or the "Company")
Mobilisation of drill to Mutsk gold project in Armenia
Orogen Gold plc (AIM:ORE), the AIM quoted gold exploration
company, announces the mobilisation of a drill rig to commence its
2014 diamond drilling programme at the Mutsk gold project in
Armenia.
Highlights:
-- Drilling targeting extensions of previous gold intercepts and
several large newly discovered geophysical anomalies
-- Minimum programme of 3,000 metres planned
Ed Slowey, Chief Executive of Orogen, commented: "Following on
from our encouraging diamond drilling campaign in 2013 and recent
geophysics programme which has generated several strong new targets
within the permit area, we are pleased to announce the mobilisation
of a rig to commence the 2014 follow-on drilling programme at
Mutsk. We anticipate an active news flow from the property as work
progresses."
About the Mutsk Project
The Mutsk Project is located in southern Armenia at about 2,000m
elevation and is three hours' drive from the capital Yerevan. The
site is accessible most of the year other than during the core
winter months. Maps showing the location and details of the project
are available on the Company's website.
Low sulphidation epithermal-type pyrite-gold mineralisation was
discovered by limited drilling in altered and brecciated tuffs,
similar in age to those that host the Lydian International high
sulphidation Amulsar gold deposit (4.1 million ounces in Measured,
Indicated and Inferred Resources) located 30km to the northwest,
also in Armenia. More recent drilling by Orogen has intersected
zones of enhanced gold grade and wider zones of lower-grade
mineralisation. Geophysical surveying earlier in 2014 identified
several strong new targets for drill testing in the current
year.
Orogen has an exclusive agreement with Georaid CJSC to earn an
80% interest in the property by spending a total of US$2.5m by the
end of August 2016.
-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
Broker) +44 (0) 20 7220 1666
Tim Feather
James Bavister
XCAP Securities plc (Joint Broker)
Jon Belliss
Walbrook (Public Relations and Investor +44 (0) 207 101 7070
Relations) +44 (0) 20 933 8780
Paul Cornelius/ Guy McDougall
About Orogen Gold
Orogen Gold plc is a UK public company quoted on the London
Stock Exchange AIM market (ticker: ORE). The Company is focused on
mineral exploration and development in Europe and is currently
operating two gold exploration projects: a) at Mutsk in Armenia and
b) at Deli Jovan in Serbia. The Mutsk gold project in Armenia was
optioned by Orogen early in 2013 to follow-up reports of a new
epithermal discovery within an established gold district. At Deli
Jovan 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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