Last checked at 19 Nov 2007 15:35
Medoro Resources Announces Drilling Results
TORONTO, Nov. 19 /CNW/ - Medoro Resources Ltd. announced today further diamond drilling results from its Lo Increible gold properties located in the El Callao mining district in Venezuela. Highlights include Hole 07-197 at El Tapon which intersected 23 metres at a gold grade of 8.2 grams per tonne (g/t). In the same area, Hole 07-184 returned 27 metres grading 3.7 g/t. Two very high grade intersections were reported from the La Sofia area - Hole 07-151 encountered 73.1 g/t over a 1.5-metre interval while Hole 07-154 intersected 43.7 g/t over 0.5 metres.
The program, consisting of three holes at La Cruz, 11 holes at La Sofia, 11 holes at El Tapon and six holes at the new Tibaire zone, was designed to expand and upgrade current resources. A review of structural data for both the La Sofia and El Tapon zones is currently in progress, aimed at obtaining a better understanding of the geological control of high grade shoots which may be located at fold hinges or shear intersections. Drilling at Tibaire has confirmed the extension of the La Cruz structure to the northeast.
Significant intervals (exceeding 10 gram-metres) are summarized below. La Cruz -------------------------------------------------- Hole No. From To Interval Grade (m) (m) (m) (g/t) -------------------------------------------------- LI07_144 152.0 157.6 5.6 5.5 LI07_145 74.5 82.5 8.0 2.8 -------------------------------------------------- Intervals approximate true width. Grades are uncut -------------------------------------------------- La Sofia -------------------------------------------------- Hole No. From To Interval Grade (m) (m) (m) (g/t) -------------------------------------------------- LI07_120 13.0 23.0 10.0 5.0 LI07_125 42.5 49.0 6.5 3.1 LI07_151 62.5 64.0 1.5 73.1 LI07_154 11.3 11.8 0.5 43.7 LI07_170 28.0 31.4 3.4 4.2 -------------------------------------------------- Intervals approximate true width. Grades are uncut -------------------------------------------------- El Tapon -------------------------------------------------- Hole No. From To Interval Grade (m) (m) (m) (g/t) -------------------------------------------------- LI07_174 30.0 39.5 9.5 3.3 LI07_175 49.5 51.0 1.5 6.0 LI07_175 126.5 129.3 2.8 7.0 LI07_177 64.4 73.2 8.8 4.4 LI07_183 5.3 10.0 4.7 2.7 LI07_184-B 175.3 202.2 26.9 3.7 LI07_190-B 182.5 194.3 11.8 4.5 LI07_195 196.3 203.1 6.8 4.7 LI07_197 183.0 206.0 23.0 8.2 and 223.9 230.8 6.9 2.0 -------------------------------------------------- Intervals approximate true width. Grades are uncut -------------------------------------------------- Tibaire -------------------------------------------------- Hole No. From To Interval Grade (m) (m) (m) (g/t) -------------------------------------------------- LI07_186 113.5 115.0 1.5 7.8 LI07_193 124.5 127.3 2.8 4.4 -------------------------------------------------- Intervals approximate true width. Grades are uncut --------------------------------------------------
At the Lo Increible properties, gold mineralization occurs as lode-gold shear-hosted quartz-carbonate veins. Mineralization is associated to the east-northeast to east trending Lo Increible shear, and it shares with the nearby Choco 10 mine similar lithologies, structural features and style.
The company currently has three drill rigs on the property, of which one is dedicated to upgrading the resources at the La Cruz, La Sofia and El Tapon zones. The second rig is evaluating three additional prospects, among others, that have been identified within Lo Increible 4A and 4B - Tibaire, La Lapa, La Loca and Los Gritos.
Dr Mike Armitage C.Eng. C. Geol. is the Qualified Person for this project and is independent of the company. He has conducted the verification for this project. Medoro has used Triad Laboratories in Venezuela as the primary laboratory. Split HQ core samples of 4 to 5 kg were crushed and pulverized to 250 grams. A 50 gram sample was split for fire assay analysis using AAS finish, and gravimetric finish if Au was greater than 2.0 g. A comprehensive quality control program, which includes blanks, standards duplicates and cross checks was employed. This QC program included the use of certified standard reference samples.
Medoro Resources is a gold exploration and development company focused on acquiring properties of merit for potential joint ventures with senior producers. The company holds a 100% interest in the Lo Increible 4A and 4B concessions in Venezuela and interests in seven gold exploration areas in the Republic of Mali. Additional information on the company can be found by visiting the company's website at www.medororesources.com. Medoro's Nominated Adviser for the purposes of AIM is Canaccord Adams Ltd. (Ryan Gaffney), +44 (0) 20 7050 6500.
Glossary: AAS: Atomic Absorption Spectrometer. Split HQ: A standard form of core size. THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
For further information: Robert Doyle, (416) 603-4653 (MRL)
MEDORO RESOURCES LTD