Oro Mining Intersects Additional High-Grade Gold Mineralization from Its Sonic Drilling Campaign and Releases Multiple Drill Results at Taunus Project, Mexico
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/08/11 -- Oro Mining Ltd. ('Oro Mining', the 'Company') (TSX VENTURE: OGR) has announced additional positive drill results and completes the current round of drilling on its Taunus project.
'Drilling directly below the pit floor has shown that there are mineralized connections between the near surface El Dorado zone and the deeper HS zone, as we previously thought,' said John Brownlie, CEO of Oro Mining. 'We have also stepped out on strike and have identified additional mineralization along the structural corridor.'
Mr. Brownlie continued, 'The current drill campaign is successfully increasing gold mineralization within the main zones. Sonic drilling is slow and has its depth limitations. This has caused us to limit the depth to which we explore; however, there is every indication that the zone continues deeper than the drill limitations. Based on the current drill results our intention is to conduct metallurgical testwork, revise the resource estimate, develop a mine plan and initiate a preliminary economic assessment (PEA) of the Taunus gold deposit.'
Highlights of sonic holes SN23 to SN30, Taunus project, Mexico:
-- Sonic hole SN24 intersected 48 metres of 2.2 g/t gold expanding the HS
zone 20 metres to the east of the previous model. The last drill sample
interval assayed 4.1 g/t gold, indicating the HS zone is open at depth.
-- Sonic hole SN27 intersected 18.7 metres of 2.0 g/t gold in the Eldorado
zone and 40.9 metres of 1.7 g/t gold in the HS zone, both intervals are
at least twice the gold grade of previous nearby reverse circulation
(RC) drill hole results.
-- Sonic hole SN30 intersected 10.6 metres of 2.9 g/t gold in the Eldorado
zone. This hole is considered to have identified new mineralization on
strike and near surface.
-- Sonic holes 23, 25 and 26 have identified additional gold mineralization
that will increase the Taunus resource.
The Company has completed 3,582 metres of drilling in thirty-eight drill holes during this stage of drilling. The significantly improved core recovery by sonic drilling has been a critical step to accurately determine the grade and thickness of the mineralized zones.
The larger core size and high core recovery has provided sufficient material which will be used to:
-- Increase understanding of geological setting;
-- Complete a mineral resource estimation update;
-- Conduct additional metallurgical testwork;
-- Develop a block model and mine plan; and
-- Complete flow sheet design testwork.
Section and plan views of the latest sonic drill results can be referenced on the Company's web site (http://www.oromining.com/section.asp?pageid=15020).
Select gold assay composites:
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HOLE INTER- GOLD
DEPTH FROM TO VAL GRADE
SONIC HOLE (m) (m) (m) (m) (g/t) Comments
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SN23 26.4 0 10.1 10.1 0.46 Historical low grade
stockpiled material
17.3 23.4 6.1 0.27
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SN24 200.0 38.6 46.0 7.4 0.44 Eldorado zone
111.6 159.3 47.7 2.17 HS zone
Including 114.1 137.5 23.4 3.06 HS zone
163.1 181.9 18.8 1.40 HS zone
186.0 200.0 14.0 0.90 HS zone
Including 198.7 200.0 1.3 4.07 HS zone
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SN25 47.2 0 7.6 7.6 0.41 Back-fill within pit
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SN26 56.0 0 10.2 10.2 0.48 Back-fill within pit
14.3 33.1 18.8 0.45 Eldorado zone
----------------------------------------------------------------------------
SN27 78.9 2.3 21.0 18.7 1.98 Eldorado zone
25.5 31.3 5.8 0.27
88.9 99.4 10.5 0.42
108.7 149.6 40.9 1.67 HS zone
153.3 158.8 5.6 0.29
----------------------------------------------------------------------------
SN28 34.6 0 6.4 6.4 0.36 Eldorado zone
----------------------------------------------------------------------------
SN29 47.3 0 14.1 14.1 anomalous Waste dump
Lost prior to target depth
----------------------------------------------------------------------------
SN30 66.1 4.0 10.7 6.7 0.22 Waste dump
Lost prior to target depth 55.4 66.0 10.6 2.85 Eldorado zone
----------------------------------------------------------------------------
Note: the reported intervals are down-hole depth and may not represent true
width.
Exploration targets outside of Taunus
Additional exploration will focus on a 314 square-kilometre area around the Taunus gold resource. Within this area, eight anomalous gold, silver and copper targets have been identified to date. The target location map can be referenced on the Company's website (http://www.oromining.com/section.asp?pageid=15020). The initial focus will be on the recently acquired 77-hectare 100% owned San Carlos gold property located approximately 2 kilometres north of Taunus.
Oro Mining has conducted initial fieldwork at San Carlos including geological mapping, surface trench sampling and drill target planning. This geological work has reported positive results including trench sampling results containing 60 metres of 1.68 g/t gold and 16 metres of 4.43 g/t gold, and identifying an open-ended surface gold-in-soil anomaly measuring 440 metres by 140 metres. Within this area outside of Taunus, the Company is also verifying historical data from Eldorado Gold Corp.'s mid 1990's exploration program that included seven RC drill holes totalling 1,342 metres and surface geochemical and magnetic surveys.
Highlights of previous Eldorado drill holes include (1):
-- 40 metres of 1.74 g/t gold in RC hole SCC-03
-- 14 metres of 1.37 g/t gold in RC hole SCC-06
-- 18 metres of 1.87 g/t gold in RC hole SCC-08
Quality Control
Oro Mining maintains a strict quality control program. All samples generated by Oro Mining are submitted directly to Inspectorate, an ISO 9001-2008-certified assay laboratory, for preparation in Durango, Mexico, and fire assay analysis in Reno, NV. All sonic drill samples submitted for analysis were from splits of quarter-sawn frozen core. Analysis was conducted on one-assay-tonne samples for gold, with a standard, blank and duplicate inserted for every 20 samples submitted. Analysis of gold was by fire assay with AAS finish, and with gravimetric finish on samples exceeding five g/t gold. Y. (Gary) Wong, P.Eng., Resource Evaluation Manager, is a qualified person as defined by National Instrument 43-101 and has reviewed the content of this press release.
About Oro Mining
Oro Mining is a publicly-listed company on the TSX Venture Exchange with properties located in Sinaloa and Zacatecas, Mexico. Oro Mining's corporate mandate is to advance its projects toward production, while continuing to make exploration discoveries on its extensive property position. The district-scale Trinidad property that hosts the Taunus gold deposit continues to be the focus of Oro Mining's exploration and project development activities. The Company's mission is to create exceptional value for our shareholders through exploration discovery, resource growth, mine development and production, while providing sustainable benefits to our staff, the environment, and the communities where we operate.
ON BEHALF OF THE BOARD OF DIRECTORS
John Brownlie, Chief Executive Officer
Some statements in this release may contain forward-looking information. These statements include, but are not limited to, statements with respect to future drilling, exploration, development and production activities. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.
(1) Data is from historical drill logs and has not been verified
To view the maps that accompany this Press Release, please visit: http://media3.marketwire.com/docs/ogr-drill-maps-0808.pdf.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Oro Mining Ltd.
John Brownlie
CEO & COO
(604) 646-1580
(604) 642-2411 (FAX)
jbrownlie@oromining.com
www.oromining.com
Marston Webb International
Victor Webb
Investor Relations
(212) 684-6601
marwebint@cs.com