Less Ads, More Data, More Tools Register for FREE

Pin to quick picksOrogen Gold Share News (ORE)

  • There is currently no data for ORE

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Orogen Gold Mobilises Drill Rig To Mutsk Gold Project In Armenia

Mon, 07th Jul 2014 08:17

LONDON (Alliance News) - Orogen Gold PLC Monday said it has mobilised a rig to start drilling a 3,000 metre programme at its Mutsk gold project in Armenia.

The AIM-quoted gold exploration company said the drilling will target extensions of previous gold intercepts and several large newly discovered geophysical anomalies.

"Following on from our encouraging diamond drilling campaign in 2013 and recent geophysics programme which has generated several strong new targets within the permit area, we are pleased to announce the mobilisation of a rig to commence the 2014 follow-on drilling programme at Mutsk," Chief Executive Ed Slowey said in a statement.

The news comes after the company announced in June that geophysical surveys carried out on the Mutsk project extended a target zone and showed strongest anomalies in its undrilled northern sector on the site.

Orogen extended its target zone to almost 2.5 kilometres in length and said it was now planning to test the northern target, and to test extensions of gold mineralisation encountered further south in earlier drill phases.

The Mutsk project is in southern Armenia at high elevation of roughly 2,000 metres. Orogen Gold has an exclusive agreement with Georaid CJSC that allows Orogen Gold to earn an 80% interest in the property by spending a total of USD2.5 million by the end of August 2016.

Orogen Gold shares were up 12% to 0.184 pence on Monday.

By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1

Copyright 2014 Alliance News Limited. All Rights Reserved.

More News
20 Oct 2014 10:57

UK WINNERS & LOSERS: Takeover Speculation Sends Afren Shares Higher

Read more
20 Oct 2014 06:57

Orogen Gold Issues Shares To Cover Diamond Drilling Services (ALLISS)

Read more
16 Oct 2014 11:03

UK MIDDAY BRIEFING: Warren Buffett Reduces Stake In "Huge Mistake"

Read more
16 Oct 2014 10:39

UK WINNERS & LOSERS: Shire Continues To Fall Heavily

Read more
16 Oct 2014 08:03

REPEAT: Orogen Gold Shares Rise After Raising GBP75,000 In Director Placing (ALLISS)

Read more
16 Oct 2014 07:51

Orogen Gold Shares Rise After Raising GBP75,000 In Director Placing

Read more
14 Oct 2014 07:13

Orogen Gold Says Continuity Of Mineralisation At Mutsk Confirmed

Read more
22 Sep 2014 08:52

Orogen Gold Extends Gold Discovery At Mutsk Project In Armenia

Read more
16 Sep 2014 11:14

Orogen Gold Driving Toward Maiden Resource At Mutsk Project

Read more
10 Sep 2014 11:31

UK MIDDAY BRIEFING: Standard Life Planning For Possible Union Split

Read more
10 Sep 2014 11:06

UK WINNERS & LOSERS: Investors Encouraged By Kingfisher CEO Change

Read more
10 Sep 2014 09:17

Orogen Gold raises £1.12m for its gold drilling project

Orogen Gold, a gold exploration company, rose £1.12m before costs for its drilling project at Mutsk in Armenia. The company placed 1.02bn new shares with existing and new investors at 0.11p each, which represents 29.92% of Orogen’s capital. The Mutsk project has recently discovered zones of g

Read more
10 Sep 2014 07:27

UK MORNING BRIEFING: Kingfisher Names Castorama Head As New CEO

Read more
10 Sep 2014 07:20

Orogen Gold Raises GBP1.1 Million Through Share Placing

Read more
8 Sep 2014 11:09

UK MIDDAY BRIEFING: AB Foods Slumps As Sugar Business Concerns Continue

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.