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ORG - Orogrande Resources Inc
Company info:
Sector: junior natural resource - mining
Shares issued: 19,905,432 Exchanges: A
09/01/97 working cap ($8,000.00)
Address: 926 - 1122 4th St SW Calgary AB T2P 1M1
Phone 403 233 2964
Company Website: orogrande.com
OroGrande Resources Inc -
Drilling results from Hydro Creek
OroGrande Resources Inc ORG
Shares issued 19,905,432 1998-09-21 close $0.08
Tuesday Sep 29 1998
Mr. Guillermo Salazar reports
Drilling at the company's Hydro Creek property in Tyrrell twp, Northeastern Ontario, began Sept. 29, 1998. The program is designed to test and confirm gold mineralization found in two separate areas.
Diamond drill hole HC-2, drilled by Haddington Resources, encountered the following:
FROM - TO(m) INTERSECTION(m) G/T AU
162.7 - 174.3 11.6 4.24
Including
165.5-167.0 1.5 19.25
and
173.3-174.3 1.0 8.23
180.3-218.4 38.1 2.45
or
180.3-198.0 17.7 2.71
or
201.0-214.5 13.5 3.17
Including
181.8-183.4 1.6 10.29
Including
192.0-193.5 1.5 5.14
Including
205.5-207.0 1.5 10.90
DDH HC-23, drilled to test the western extension of the gold mineralization gave results as follows:
FROM - TO(m) INTERSECTION(m) G/T AU
325.0-334.0 9.0 1.38
337.0-371.5 34.2 2.19
or
337.0-353.4 16.4 3.82
Including
334.5-346.0 1.5 6.10
Including
349.0-350.5 1.5 15.67
Including
350.5-352.0 1.5 5.07
A recent hole drilled by Goldeye Explorations to test its portion of the La Carte ore shoot showed gold mineralization from 24.9 to 343.4 metres, including a 20.2m long intersection that assayed 3.58 g/t Au and sighted several clusters of native gold in the drill core. OroGrande's drilling will confirm the lateral extent of this ore shoot in a westerly direction and into Orogrande's property.
The La Carte ore shoot is a portion of the Hydro Creek shear presently being explored by others. OroGrande controls 1.4km of the known shear and the area that was subjected to more intensive drilling in the near past. A total of six different target areas was recently defined in a report commissioned by the company.
Financing for the drilling at Hydro Creek has been received through Augen Capital and Aumerco Ltd., and a small private placement with arm's length investors at 15 cents per share.
Line cutting of two grids totalling 31km in the Shining Tree and Old Red projects, both in Leonard Township and also in the Gowganda area, is in progress. Magnetometer and VLF-EM surveys will be carried out on these properties.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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