OVG29 Aug 2012 08:01
Highlights
Stakhanovskiy Project:
· Processing of 16,586 tonnes (for the 2012 calendar year to date) of primary rock from the Berezitoviy and Zabolocheniy ore bodies by gravity concentration plant
· 10,667 tonnes mined from Zabolocheniy, 5,288 tonnes from Albitoviy, and 2,285 tonnes from Berezitoviy bulk sample trenches
Rassoshinskaya Project:
· Podgorniy Prospect: Three HQ core drill holes intercepted:
1.2 metres at 10.40 g/t gold and 101.00g/t silver from 26.0 metres depth
2.9 metres at 7.94 g/t gold and 18.70 g/t silver from 34.4 metres depth
0.9 metres at 10.00 g/t gold and 11.50 g/t silver from 356 metres depth
· Bazaar Prospect: New high sulphidation type pyrite mineralization, with gold grade unknown, discovered within a 600 metre trench and from 1,050 metres of core drilling
· Agromniy Prospect: 1,000 metres of surface trenching exposed a high grade lead-silver (and potential gold) quartz vein at least 250 metres in length
At the Stakhanovskiy Project, the bulk sampling mill continues to perform in line with expectations. Assay results are being received from the Knelson concentrator tailings and shaking table products.
At the Rassoshinskaya Project, NQ-sized diamond core drilling has been undertaken at the Bazaar Prospect, located 2km to the east of Podgorniy and 65km to the north of the Olcha JORC Inferred resource. The final assay results at the Zet Prospect demonstrate that the typical mineralisation at this prospect is composed of small high grade gold-silver quartz-adularia veining within a broad zone of low grade, but anomalous, gold and silver values. At the Podgorniy Prospect, moderate grade gold mineralisation was shown to continue to 356m vertical depth from surface. Scenarios for significant gold-silver resources at Podgorniy and Zet have now been reduced.