LONDON (Alliance News) - Gold explorer Orogen Gold PLC on Monday said the drilling programme undertaken at the Mutsk gold project in southern Armenia has extended the gold mineralisation area at the site.
The deposit identified at the project is open-ended in at least two directions and to depth, while the drill intercepts have identified potential zones to enhance the gold grade for the project.
"This programme, whilst limited, has revealed new potential for increased tonnage with superior grades. We will evaluate this project on a continuing basis and position it in our ongoing strategy," said Chief Executive Colin Bird.
Shares in Orogen were down 14% to 0.0214 pence early Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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