Additional Gold Results from OJVG's Resource Expansion Drilling Program
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/15/10 -- Oromin Explorations Ltd. (TSX VENTURE: OLE)(OTCBB: OLEPF) -
New Drill Results include:
-- 17.14 g/t Au over 14 metres at Golouma West
-- 7.68 g/t Au over 27 metres at Golouma West
-- 6.90 g/t Au over 7 metres at Kerekounda
-- 4.12 g/t Au over 37 metres at Masato
Oromin Explorations Ltd. ('Oromin'), on behalf of Oromin Joint Venture Group Limited ('OJVG'), is pleased to provide a further update to its ongoing 2010 drilling program at the OJVG Gold Project (the 'Project') in eastern Senegal, West Africa. Drilling has been focused on project resource and reserve expansion with particular emphasis on Golouma Style, higher grade gold deposits and on initial definition drilling of higher grade gold potential beneath the proposed open pit at the Masato deposit.
Chet Idziszek, President and CEO of Oromin, stated, 'The deepest drilling to date at Kerekounda and at Golouma West has displayed robust grades and widths. The continuity appears excellent, and remains open to further depth and lateral expansion. We have observed visible gold in numerous drill holes, all within typical veined, altered mineralized zones. Drilling is presently confirming mineralization below 550 metres in depth, whereas reserves calculated in the July 2010 Feasibility Study extended to an average depth of only 250 metres. At our Masato targets, the drill program to define underground mining potential continues to demonstrate excellent continuity of multiple zones. These zones host favourable grades, over widths amenable to cost-effective underground mining.'
The new drill results, along with those previously reported in Oromin's December 1, 2010 news release, are listed below and detailed in Appendix A. These drill results further confirm the continuity of mineralization and increasing expansion potential for those higher grade Golouma Style deposits down-dip and below the limits of the resource/reserve block model used for the July 2010 Feasibility Study. Assay highlights from drilling include:
New Results Previously Reported
26.87 g/t Au over 4 m at Golouma 4.13 g/t Au over 14 m at Kerekounda
West in DH-905 in DH-896
17.14 g/t Au over 14 m at Golouma 10.05 g/t Au over 14 m at
West in DH-915 Kerekounda in DH-900
8.77 g/t Au over 5 m at Golouma 5.41 g/t Au over 19 m at Golouma
West in DH-924 West in DH-901
7.68 g/t Au over 27 m at Golouma
West in DH-924
6.90 g/t Au over 7 m at Kerekounda
in DH-903
21.20 g/t Au over 2 m at Kerekounda
in DH-908
New results from mineralized zones below the proposed open pit at the Masato Deposit continue to extend the zones of higher grade gold mineralization potentially amenable to underground mining. This mineralization will be remodelled for the planned resource and reserve update scheduled in Q1 and Q2 of 2011 respectively.
Key results from Masato expansion drilling include: (see Appendix B for details)
New Results Previously Reported
2.49 g/t Au over 10 m in DH-902 1.94 g/t Au over 16 m in DH-894
4.12 g/t Au over 37 m in DH-904 6.94 g/t Au over 31 m in DH-895
8.02 g/t Au over 10 m in DH-906 5.49 g/t Au over 3 m in DH-897
2.79 g/t Au over 15 m in DH-909 2.44 g/t Au over 41 m in DH-897
6.52 g/t Au over 5 m in DH-913 2.41 g/t Au over 16 m in DH-899
2.04 g/t Au over 26 m in DH-899
Doug Turnbull, P. Geo., is a qualified person for the purposes of National Instrument 43-101, and has verified the data disclosed in this news release. William Bond, P. Geo., is also a qualified person for the purposes of National Instrument 43-101, and has supervised geologic field procedures. TSL Laboratories in Saskatoon carried out all assaying under industry-standard QA/QC procedures.
To find out more about Oromin Explorations Ltd., visit www.oromin.com.
On behalf of the Board of Directors of OROMIN EXPLORATIONS LTD.
Chet Idziszek, President
Cautionary Statement
This document contains 'forward-looking statements' within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans and our other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. Such forward-looking statements include, without limitation, estimates of exploration investment and the scope of exploration programs. There can be no assurance that such statements will prove to be accurate, and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates or opinions change. Forward-looking statements are subject to risks, uncertainties and other factors, including risks associated with public markets, mineral exploration, price volatility in the mineral commodities we seek, and operational and political risks. Readers are advised not to place undue reliance on forward-looking statements.
Appendix A
---------------------------------------------------------------------------
Golouma Style Deposits
---------------------------------------------------------------------------
Drill Grid Azimuth From - To Interval Gold Grade
Deposit Hole Co-Ordinate /Dip (m) (m) (g/t)
---------------------------------------------------------------------------
GOLOUMA DH-905 53784N/14202E 128-62 55-56 1 7.15
WEST 142-144 2 5.01
280-284 4 26.87
incl.280-281 1 50.05
and 283-284 1 55.23
----------------------------------------------------------------
DH-910 53239N/14646E 015/-70 413-418 5 2.53
----------------------------------------------------------------
DH-911 53262N/14699E 015/-70 373-378 5 2.20
----------------------------------------------------------------
DH-915 53307N/14654E 015/-75 354-368 14 17.14
incl.354-356 2 39.15
and 361-363 2 63.52
----------------------------------------------------------------
DH-924 53753N/14368E 213/-69 196-201 5 8.77
incl.196-198 2 15.74
337-344 7 1.78
411-438 27 7.68
incl.411-422 11 15.27
incl.414-419 5 26.95
incl.414-415 1 50.70
451-454 3 3.58
----------------------------------------------------------------
DH-901(i) 53781N/14204E 144/-64 195-199 4 2.90
incl.198-199 1 6.86
315-350 35 4.03
incl.324-343 19 5.41
and 324-330 6 7.66
----------------------------------------------------------------
---------------------------------------------------------------------------
KEREKOUNDA DH-903 54445N/15344E 055/-71 326-333 7 6.90
342-344 2 7.17
----------------------------------------------------------------
DH-908 54416N/15349E 055/-71 328-330 2 21.20
incl.328-329 1 41.36
----------------------------------------------------------------
DH-896(i) 54484N/15298E 055/-78 124-125 1 13.75
363-377 14 4.13
incl.363-369 6 8.26
----------------------------------------------------------------
DH-900(i) 54461N/15311E 055/-71 334-348 14 10.05
incl.337-341 4 29.85
incl.339-340 1 67.76
---------------------------------------------------------------------------
---------------------------------------------------------------------------
(i)Previously reported.
Mineralized intervals are based on 1-metre samples utilizing 1.0 g/t gold
cut-off levels with a maximum internal dilution of 2 metres. The interval
from 411 to 438 in DH-924 has 5 metres of interval dilution below the
1.0 g/t gold cut-off level. The attitude of mineralized intervals varies and
reported mineralized intersections may not represent true widths.
---------------------------------------------------------------------------
Appendix B
---------------------------------------------------------------------------
Masato Deposit Results below planned open pit
---------------------------------------------------------------------------
Drill Grid Azimuth From - To Interval Gold Grade
Deposit Hole Co-Ordinate /Dip (m) (m) (g/t)
---------------------------------------------------------------------------
MASATO DH-902 59452N/14436E 115/-82 186-196 10 2.49
incl.186-189 3 4.24
202-205 3 1.78
267-280 13 2.27
incl.267-270 3 4.25
-------------------------------------------------------------------
DH-904 59432N/14420E 115/-60 157-161 4 2.28
184-193 9 2.16
incl.184-186 2 4.70
-------------------------------------------------------------------
DH-906 59432N/14420E 115/-70 207-244 37 4.12
incl.211-229 18 7.04
incl.223-229 6 14.57
incl.226-228 2 35.53
264-274 10 8.02
incl.271-272 1 55.21
-------------------------------------------------------------------
DH-909 59432N/14420E 115/-76 237-241 4 1.70
249-268 19 2.00
incl.252-255 3 4.02
and 266-268 2 4.49
282-297 15 2.79
incl.282-292 10 3.38
incl.282-285 3 4.18
-------------------------------------------------------------------
DH-913 59648N/14465E 115/-77 169-174 5 6.52
180-182 2 4.60
220-228 8 2.42
-------------------------------------------------------------------
DH-894(i) 59530N/14422E 115/-80 190-209 19 1.06
incl.204-208 4 2.06
252-268 16 1.94
incl.253-256 3 4.18
-------------------------------------------------------------------
DH-895(i) 59509N/14422E 115/-73 110-123 13 1.80
incl.115-119 4 3.29
incl.115-116 1 9.12
163-194 31 6.94
incl.163-167 4 9.71
and 178-194 16 9.95
incl.181-189 8 17.11
incl.182-183 1 49.04
-------------------------------------------------------------------
DH-897(i) 59444N/14490E 115/-68 62-65 3 5.49
103-112 9 1.84
incl.109-112 3 3.60
125-166 41 2.44
incl.129-130 1 36.11
and 137-143 6 4.84
incl.139-141 2 10.50
-------------------------------------------------------------------
DH-899(i) 59444N/14490E 115/-82 114-120 6 1.76
Incl.118-119 1 6.05
185-201 16 2.41
Incl.185-189 4 4.61
216-242 26 2.04
Incl.222-231 9 3.64
Incl.223-224 1 16.87
---------------------------------------------------------------------------
---------------------------------------------------------------------------
(i)Previously reported.
Mineralized intervals are based on 1-metre samples utilizing 0.5 and 1.0 g/t
gold cut-off levels with a maximum internal dilution of 4 metres. The
attitude of mineralized intervals varies and reported mineralized
intersections may not represent true widths.
---------------------------------------------------------------------------
Contacts:
Oromin Explorations Ltd.
David Scott
Investor Relations
(604) 331-8772 or toll free: (877) 529-8475
(604)331-8773 (FAX)
dscott@mine-tech.com
www.oromin.com