Orogen Gold PLC Further drilling confirms continuity of gold zone (1720U)
14 Oktober 2014 - 8:00AM
UK Regulatory
TIDMORE
RNS Number : 1720U
Orogen Gold PLC
14 October 2014
Orogen Gold plc
("Orogen" or the "Company")
Mutsk gold project Armenia
Further drilling confirms continuity of gold zone
Orogen Gold plc (AIM: ORE), the AIM quoted gold exploration
company, provides the following update on the Company's diamond
drilling programme at the Mutsk gold project in southern
Armenia.
Highlights:
-- Latest hole within main zone confirms continuity of gold zone down-dip to the west
-- OG14-30 cuts 28.9m interval assaying 0.70g/t Au, including 4.8m assaying 1.52g/t Au
-- Two holes at the northern end of 1.6km target zone cut wide
sections of hydrothermal alteration and pyrite mineralisation and
narrow base metal veining
-- Drilling along the Mutsk gold zone is ongoing and further
results will be reported over the coming weeks
Ed Slowey, Chief Executive of Orogen, commented: "The latest
holes provide additional detail on the extent of the mineralising
system and gold-bearing intervals at Mutsk. Drilling will continue
as long as the weather window remains open and further results will
be reported over the coming weeks."
Four additional diamond drill holes were completed at the Mutsk
property for which core assays were received. All holes were angled
at 55 degrees towards the east. Hole OG14-30 was sited 30m to the
west of hole OG14-27 on Section 3710N, where a wide
gold-mineralised interval was reported previously in hydrothermally
altered and brecciated volcanic rocks. The new hole cut a
mineralised zone grading 0.70g/t Au over a width of 28.9m between
60.3-89.2m down-hole depth. Within this zone, a shorter interval of
4.8m graded 1.52g/t Au from 77.2-82.0m depth. This hole confirms
that the target zone extends to the west on this section similar to
the sections already drill tested 90m to the south and 240m to the
north.
Two holes drilled at the northern end of the 1.6km Mutsk
structural zone, OG14-26a and OG14-31, intersected extensive
alteration and pyrite mineralisation, as well as some narrow base
metal veins, however these particular holes were found not to be
gold-bearing.
The fourth hole, OG14-29, was sited on Section 4200N at the
northern end of the main mineralised zone discovered by previous
vertical drilling along the main structure. This hole cored a zone
of intermittent alteration and pyrite mineralisation containing
some low-order gold values at shallow depths, confirming that the
main target zone extends over at least 600m of strike. It is
becoming clearer that as the strong alteration and accompanying
gold mineralisation can vary over quite short distances, further
drill testing of this area is required.
Drilling along the Mutsk gold zone is ongoing and further
results will be reported over the coming weeks. Work is planned to
continue at site as long as weather and ground conditions permit,
before the onset of winter.
For maps of the Mutsk property please refer to the Mutsk project
page on the Orogen website at www.orogengold.com.
Sample Assaying
Gold assaying is undertaken at an analytical laboratory located
in Kapan in the south of Armenia. The laboratory is operated by the
international SGS Laboratory Services company. Orogen inserts
certified standards, blanks and duplicate samples into its sample
batches to check the accuracy of the assay results and has also
carried out confirmatory checking of duplicate samples at another
international laboratory.
About the Mutsk Project
The Mutsk Project is located in southern Armenia at about 2,000m
elevation and is three and a half 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.
Limited historic exploration had been carried out until drilling
by Georaid CJSC in 2011, which intersected low sulphidation
epithermal-type pyrite-gold mineralisation in altered and
brecciated tuffs, similar in age and gold grade to those that host
the Lydian International high sulphidation Amulsar gold deposit
(4.1 million ounces in Measured, Indicated and Inferred Resources
at an average grade of 1g/t Au) located 30km to the northwest, also
in Armenia.
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 Joint Broker) +44 (0) 20 7220 1666
Tim Feather
James Bavister
----------------------------------------- ---------------------
Hume Capital Securities Plc (Joint
Broker) +44 (0) 20 3693 1470
Jon Belliss
----------------------------------------- ---------------------
Walbrook (Public Relations and Investor
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. The Mutsk project has been
prioritised by the Company due to the clear potential evident on
the property.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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