SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?


To: LoneClone who wrote (59901)6/2/2010 6:32:37 PM
From: LoneClone  Read Replies (1) | Respond to of 193209
 
Oro Gold Extends Taunus Gold Zone Another 60 Metres at Trinidad Project, Mexico
Wed Jun 2, 8:00 AM

ca.news.finance.yahoo.com

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 2, 2010) - Oro Gold Resources Ltd. ("Oro Gold") (TSX VENTURE: OGR.V) drills gold-bearing mineralization in hole 45 extending the known mineralized zones to the south by another 60 metres, increasing the size of the Taunus gold deposit at its Trinidad project, located near Mazatlan, Mexico. Diamond drill hole 45 intersected 1.44 g/t gold over 17.6 metres and 2.03 g/t gold over 3.8 metres near surface.

"Hole 45 extends the gold zone to the south which will add ounces to our Taunus gold resource base," commented Frank Powell, Executive Vice President of Oro Gold. "We will continue to drill step-out holes to add size to the known mineralized zones with the objective of adding ounces and showing continuity. Meanwhile we have also been very active with a reverse circulation (RC) drill rig testing numerous priority targets nearby Taunus with a goal of making a new gold discovery."

Highlights of hole 45 include;

-- 2.03 g/t gold over 3.8 metres(1) from a down-hole depth of 19.0 to
22.8 m
-- 1.44 g/t gold over 17.6 metres(2) from a down-hole depth of 102.4 to
120.0 m, including 2.0 g/t gold over 8 metres(3) (estimated true width
15 metres and 6 metres respectively)
-- 0.3 g/t over 9 metres(4) from a down-hole depth of 145.0 to 154.0 m

Refer to the longitudinal section, which shows location of hole 45 (below) and Table 1 which provides selected higher-grade gold intervals.

To view a map of the North - South Section Taunus Target, please visit the following link: media3.marketwire.com

(1) Estimated true width 3 metres, (2) Estimate true width 15, (3) Estimated true width 7 metres, (4) Estimated true width 8 metres

Ongoing Drill Program

Diamond drilling continues to take place in the Taunus area in order to expand the resource and discover new gold zones.

RC drilling is directed towards testing new targets identified outside of the Taunus target area. The areas that are being tested are located along the regional trend within one kilometre northwest and southeast of the Taunus pit (see attached plan map showing recently completed diamond and RC drill holes).

A total of 2,250m in 10 RC holes have been completed in the Taunus area (RC holes 51 to 60). RC hole 57 intersected anomalous gold from the top of the hole to a down-hole depth of 120m. The composite of this interval is 0.17 g/t gold. Most of the samples in the interval were over 0.2 g/t gold with a high of 0.5 g/t gold (see Table 2). The results of this hole have confirmed a new gold target located approximately 200 metres to the south of the Taunus pit. This area will be followed-up by diamond drilling. The hole targeted a geophysical anomaly that extends further to the southwest.

8 diamond drill and 17 RC holes have been completed this year, totaling approximately 6,000 metres. The Company is on-track to complete a minimum of 10,000 metres to the next decision point by the fourth quarter in 2010.

RC drilling is used to quickly test priority targets. It is considered a cost effective tool to identify sub-surface gold anomalies, however, diamond drilling is required to accurately establish the gold grade. Previous comparison of RC versus diamond drilling indicates that RC drilling can substantially under-estimate the gold grade. Gold anomalies identified in RC drilling will be followed by diamond drilling.

Oro Gold is currently drilling step-out hole 46 located 60 metres south of hole 45 to continue testing the continuity and extensions of the HS and Eldorado zones. More drilling is also underway with the RC rig to the northwest and southeast along the Taunus corridor to test other new priority targets.

The historic pit is currently being de-watered to gain access to additional drill targets below the pit. It is estimated that drilling will commence once access permits. SRK has been engaged to complete a structural study of the area, and to aid in targeting potential feeders to the HS and El Dorado zones.

The objectives of the 2010 exploration drill program include:

-- Expanding the Taunus gold resource with diamond drilling
-- Discovering new gold zones in the immediate area of Taunus
-- Discover the source of the high-grade gold zones at Taunus (possible
feeders)
-- Making discoveries in new areas outside of Taunus that have resource
potential

About Taunus

The Taunus gold target area is located on Oro Gold's wholly-owned Trinidad property in an 80 kilometre-long, northwest-trending structural corridor in what Oro Gold is referencing as the Trinidad district. The Taunus gold deposit is interpreted to be hosted in a local pull-apart basin situated in the larger Trinidad district structural corridor. Mineralization at the HS zone within the Taunus gold target is interpreted to be an oxidized, low-to-intermediate sulphidation, epithermal vein system. The mineralization is characterized by multiphase stockwork veining hosted in both clastic, porphyry intrusive and andesitic units. Oro Gold has identified 10 other gold targets within the Trinidad district currently being advanced to a drill stage.

TAUNUS TARGET - High-grade gold results returned in diamond drill holes to date:

----------------------------------------------------------------------------
Hole # Results (grams/tonne gold) Over a length of (metres)
----------------------------------------------------------------------------
08TR012 8.5 g/t 61.1m
----------------------------------------------------------------------------
08TR013 5.3 g/t 24.0m
including 15.8 g/t (7.3m)
----------------------------------------------------------------------------
08TR014 9.7 g/t 7.0m
----------------------------------------------------------------------------
09TR015 5.3 g/t 66.0m
----------------------------------------------------------------------------
09TR016 3.4 g/t 60.6m
5.2 g/t 36.5m
----------------------------------------------------------------------------
09TR019 6.3 g/t 30.0m
----------------------------------------------------------------------------
09TR020 5.3 g/t 13.4m
4.1 g/t 13.0m
----------------------------------------------------------------------------
09TR022 8.6 g/t 20.9m
----------------------------------------------------------------------------
09TR023 3.8 g/t 5.8m
----------------------------------------------------------------------------
09TR025 3.6 g/t 81.8m
----------------------------------------------------------------------------
09TR027 5.2 g/t 18.7m
----------------------------------------------------------------------------
09TR032 3.0 g/t 9.0m
1.1 g/t 31.8m
----------------------------------------------------------------------------
09TR034a 8.7 g/t 34.5m
----------------------------------------------------------------------------
09TR038 1.6 g/t 12.8m
----------------------------------------------------------------------------
09TR041 11.9 g/t 40.9m
----------------------------------------------------------------------------
10TR044 5.6 g/t 15.6m
including 12.3 g/t (6.6m)
----------------------------------------------------------------------------
10TR045 1.44 g/t 17.6m
including 2.0 g/t (8.0m)
----------------------------------------------------------------------------


Quality Assurance - Quality Control

The Trinidad project exploration is under the direction of Frank Powell, Executive Vice President Oro Gold Resources Ltd. Gary Lustig, P.Geo, a qualified person as designated by National Instrument 43-101 has reviewed the technical content of this release. Thorough quality assurance and quality control program (QA/QC) protocol was utilized on the project including duplicate, blank and standard samples with each batch of assays. The core samples were submitted directly to Inspectorate de Mexico, S.A de C.V. for preparation in Durango, Mexico, with analysis in Reno, Nevada. Analysis was conducted on 1assay ton samples with over 20% as QA/QC samples. Analysis of gold was by fire assay, with a gravimetric finish on samples exceeding 5 g/t gold.

About Oro Gold

Oro Gold is a publicly-listed gold exploration company with projects located in Mexico and Panama. Oro Gold focuses exploration in under-explored mining camps that have the potential to host multi-million ounce gold deposits. The district-scale Trinidad property continues to be Oro Gold's top priority project and main focus of exploration and resource definition efforts. Oro Gold's mission is to make world class, low-cost gold discoveries.

ON BEHALF OF THE BOARD OF DIRECTORS

Darren Bahrey, President and CEO

Some statements in this release may contain forward-looking information. These statements include, but are not limited to, statements with respect to future exploration, development and production activities and future expenditures. 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. Such factors include, among others, the time and success of future exploration, development and production activities and the timing and amount of expenditures.

To view a map of the Taunus Target Area, please visit the following link: media3.marketwire.com

Table 1: Hole 45 Select Assay results

From (m) To (m) Interval (m) Gold Grade (g/t)
0 1.3 1.3 0.06
1.3 3 1.7 0.01
3 5 2 0.02
5 7 2 0.01
7 9 2 0.01
9 11 2 0.02
11 13 2 0.02
13 15 2 0.04
15 17 2 0.05
17 19 2 0.06
19 20 1 0.23
20 21.4 1.4 2.1
21.4 22.8 1.4 3.24
22.8 24 1.2 0.06
24 26 2 0.05
26 28 2 0.02

100 101.2 1.2 0.02
101.2 102.4 1.2 0.06
102.4 104.1 1.7 2.37
104.1 105.75 1.65 2.42
105.75 107.25 1.5 0.14
107.25 108.8 1.55 0.04
108.8 110.4 1.6 0.18
110.4 112 1.6 0.67
112 114 2 0.81
114 116 2 1.99
116 118 2 3.42
118 120 2 1.61
120 121.2 1.2 0.05
121.2 122.45 1.25 0.01

143 145 2 0.05
145 147 2 0.11
147 149 2 0.2
149 151 2 0.13
151 152 1 0.25
152 154 2 0.75
154 156 2 0.04

(i)The core length represents downhole length and is not true width

Table 2: RC Hole 57 Select Assay results

From (m) To (m) Interval (m) Au (g/t)
----------------------------------------------------------------------------
2.00 4.00 2.00 0.268
4.00 6.00 2.00 0.100
6.00 8.00 2.00 0.342
8.00 10.00 2.00 0.112
10.00 12.00 2.00 0.048
12.00 14.00 2.00 0.265
14.00 16.00 2.00 0.021
16.00 18.00 2.00 0.029
18.00 20.00 2.00 0.054
20.00 22.00 2.00 0.109
22.00 24.00 2.00 0.171
24.00 26.00 2.00 0.074
26.00 28.00 2.00 0.047
28.00 30.00 2.00 0.040
30.00 32.00 2.00 0.023
32.00 34.00 2.00 0.011
34.00 36.00 2.00 0.014
36.00 38.00 2.00 0.020
38.00 40.00 2.00 0.056
40.00 42.00 2.00 0.337
42.00 44.00 2.00 0.519
44.00 46.00 2.00 0.111
46.00 48.00 2.00 0.062
48.00 50.00 2.00 0.041
50.00 52.00 2.00 0.098
52.00 54.00 2.00 0.006
54.00 56.00 2.00 0.003
56.00 58.00 2.00 0.091
58.00 60.00 2.00 0.051
60.00 62.00 2.00 0.446
62.00 64.00 2.00 0.631
64.00 66.00 2.00 0.096
66.00 68.00 2.00 0.283
68.00 70.00 2.00 0.219
70.00 72.00 2.00 0.108
72.00 74.00 2.00 0.068
74.00 76.00 2.00 0.117
76.00 78.00 2.00 0.470
78.00 80.00 2.00 0.303
80.00 82.00 2.00 0.171
82.00 84.00 2.00 0.150
84.00 86.00 2.00 0.394
86.00 88.00 2.00 0.171
88.00 90.00 2.00 0.281
90.00 92.00 2.00 0.369
92.00 94.00 2.00 0.457
94.00 96.00 2.00 0.262
96.00 98.00 2.00 0.155
98.00 100.00 2.00 0.242
100.00 102.00 2.00 0.264
102.00 104.00 2.00 0.078
104.00 106.00 2.00 0.130
106.00 108.00 2.00 0.127
108.00 110.00 2.00 0.203
110.00 112.00 2.00 0.123
112.00 114.00 2.00 0.098
114.00 116.00 2.00 0.098
116.00 118.00 2.00 0.063
118.00 120.00 2.00 0.098
120.00 122.00 2.00 0.454
122.00 124.00 2.00 0.061
124.00 126.00 2.00 0.016
126.00 128.00 2.00 0.015

(i)The core length represents downhole length and is not true width


The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contacts

Darren Bahrey
Oro Gold Resources Ltd.
President and CEO
604 646-1580
604 642-2411 (FAX)
www.orogoldresources.com