LONDON (Alliance News) - Orogen Gold PLC shares were briefly boosted in opening trade on Tuesday after the company said the latest results from the Mutsk gold project in Armenia confirm the continuity of the gold zone down-dip to the west of the site.
Shares in the company were up around 10% at the open, before paring back to be flat at 0.09 pence.
The gold explorer said two holes at the northern end of the target zone cut wide sections of hydrothermal alteration and pyrite mineralisation and narrow base metal veining.
"The latest holes provide additional detail on the extent of the mineralising system and gold-bearing intervals at Mutsk. Drilling will continue as long as the weather window remains open and further results will be reported over the coming weeks," said Orogen Chief Executive Ed Slowey.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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