LONDON (Alliance News) - Orogen Gold PLC on Tuesday said the latest drilling results for the Mutsk gold project in southern Armenia have nearly doubled the deposit strike length at the site.
Orogen said the latest drilling has extended the gold zone at the project by 500 metres to the south. Further assay results from drilling at the project are being awaited and the limits of the gold deposit at the site have not yet been defined.
"We are extremely encouraged by our results, and we will develop and refine our model during the seasonally closed period. In the next drilling season, we will aim to further extend the deposit boundaries and thereafter move to infill drilling to develop a resource which will put a value on Mutsk. We expect that 2017 will be a very busy and productive year," said Colin Bird, Orogen's chief executive.
Orogen shares were up 7.8% to 0.0156 pence on Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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