Orogen Gold PLC 4,000m Drilling Programme Completed on Schedule (0917A)
18 Dezember 2014 - 8:00AM
UK Regulatory
TIDMORE
RNS Number : 0917A
Orogen Gold PLC
18 December 2014
18 December 2014
Orogen Gold plc
("Orogen" or the "Company")
Mutsk gold project Armenia
4,000m Diamond Drilling Programme Completed on Schedule
Orogen Gold plc (AIM: ORE), the AIM quoted gold exploration
company, provides the following update on the Company's exploration
programme at the Mutsk gold project in southern Armenia.
Highlights:
-- 4,000m drilling programme completed on schedule and within budget
-- Holes on main zone confirm continuity of gold mineralisation
-- Hole OG14-39 cuts 11m @ 1.24g/t Au; OG14-40 intersects 32m @ 1.00g/t Au
-- Drill data collation and modelling of mineralised zones to be undertaken
-- Initial test work planned on gold deportment and recovery
Ed Slowey, Chief Executive of Orogen, commented: "The results of
the final phase of the 2014 drilling programme at Mutsk have
significantly increased our confidence in the continuity of the
gold mineralisation within a 250m by 100m zone which has been
drilled in some detail. Drilling along strike has continued to
extend the limits of the hydrothermal system which has still not
been closed off. The Company will now work on collating and
modelling the data accumulated during the drill programme to help
plan a focussed follow-on programme in 2015."
Latest Drilling Results
Significant gold assay intervals
from recent drill holes*
--------------------------------------------
Depth Depth Grade
Hole from to Interval Au
No. (m) (m) (m) g/t
--------- ------ ------ --------- ------
OG14-39 82.0 93.0 11.0 1.24
--------- ------ ------ --------- ------
incl. 83.0 90.0 7.0 1.85
--------- ------ ------ --------- ------
OG14-40 75.0 107.0 32.0 1.00
--------- ------ ------ --------- ------
incl. 77.0 96.4 19.4 1.39
--------- ------ ------ --------- ------
*Downhole intervals - true widths may be less
The diamond drill programme at the Mutsk gold project was
completed as planned in late November 2014 as winter snow set in.
In all, a total of about 4,000m was drilled in 27 holes. The most
recent holes were all drilled at 55 degrees towards the east and
were planned to test both the continuity of gold mineralisation
within the main zone as well as exploration holes to test the
possible northern and southern strike extensions of the
hydrothermal alteration system.
Encouragingly, holes OG14-39 and OG14-40 confirm internal
continuity of hydrothermal alteration and gold mineralisation
within the 'main zone' over an area of at least 250m by 100m, with
a second mineralised zone occurring about 200m to the north.
OG14-42 cut unaltered rocks within a probable fault structure
between the two mineralised zones.
The remaining two holes demonstrated continuation of the
alteration zone for over 2km north to south and the zone remains
open to the south beyond the area drilled to date.
For maps of the Mutsk property please refer to the Mutsk project
page on the Orogen website at www.orogengold.com
Further Work
The Company will use the winter season to collate and digitise
the drill data gathered during the 2014 drilling programme to
improve understanding of the mineralised system at Mutsk and to
plan a focussed follow-up programme in 2015.
In addition it is planned to send a composite sample of
previously assayed drill core to a specialist metallurgical
laboratory in order to test how the gold occurs within the Mutsk
system and how easily it liberates during mineral processing.
The Company looks forward to updating shareholders on both
fronts in due course.
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.
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.
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
----------------------------------------- ---------------------
Cairn Financial Advisers LLP(Nominated
Adviser) +44 (0) 20 7148 7900
Avi Robinson / Liam Murray
Hume Capital Securities Plc (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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