Ovoca Bio Regulatory News (OVB)

30 Sep 2005 07:01

Ovoca Resources PLC29 September 2005 Ovoca Gold plc ('Ovoca' or the 'Company') Chairman's Statement to AGM and Drilling Results At the AGM of Ovoca Gold plc today in Jurys Hotel, Dublin, the Chairman, RogerTurner outlined the company's rational for the investment in Russia earlier thisyear. He explained that the licence in the Kola peninsula which hosts eightexciting prospects, including gold deposits at Oleninskoye, Nyalm and Leshayawhere we are working to expand on the 900,000 ounces (Russian categorised)already reported. Recent results on five holes have supported the previousfinds with assays of up to 8 grammes per tonne on the intersection of No. 3 veinin Oleninskoye. To date we have drilled 71 holes in the area and results duringthe year have included a drill intersection of over 200 grammes per tonne in therecently discovered South Leshaya prospect. Drilling is ongoing and a fullanalysis of the results will be carried out during the winter months. On thebasis of the results to date we have applied for additional licences around theexisting 152 square kilometre area which will include additional goldoccurrences and highly prospective ground for gold and platinum group metals . He also confirmed that the company has been offered several other Russianprojects, but declined to outline any of them at this early stage. In Sweden, fieldwork is commencing on the gold and zinc prospects previouslyoutlined by Ovoca as having potential on the Gold Line where Dragon Mining hasrecently put the Svartliden mine into production. He welcomed Danesh Varma, CFO, as an appointee to the Board. Roger Turner informed the shareholders that this was a time of positive changefor Ovoca and as part of this Ovoca was changing it's name to Ovoca Gold plc toreflect the main focus of its activities. He was looking forward to having aleading role in this rejuvenation of Ovoca Gold and repeat his previous successat Oxus Gold. 29 September 2005. Below are updated drilling results to 27 September 2005 in relation to theCompany's exploration in Kola, Russia. Kolmozero-Voronya Project Drill & Trench Results to date - 27September 2005Total metrs drilled 6,584 27 Sept.to date 2005 Deposit Drill Hole Trench Metres Depth Intersect Gold Silver From To Metres Grade g/t Grade g/tS Leshaya BF-041-48 86.8 88.5 1.7 80.3 BF-043-18 55.1 56.7 1.6 26.5 BF-044-02 5.0 7.0 2.0 211.0Oleninskoye 3 BF-027-24 150.4 150.9 0.5 4.20 BF-027-38 216.2 217.9 1.7 4.97 BF-028-22 109.40 111.20 1.8 51.60 28.00 BF-028-21+22 108.4 112.2 2.8 83.81 37.68 Including BF-028-21 108.40 109.40 1.0 141.80 55.10 BF-028-51&52 179.20 180.10 0.9 3.23 0.47 BF-037-163 218.50 219.60 1.1 7.62 BF-039-45 69.90 71.90 2.0 8.30 0.31 BF-040-84 163.00 165.00 2.0 5.20 0.44 BF-045-33 123.2 124.7 1.5 88.6 BF-046-23 199.6 200.6 1.0 0.87 New BF-046-41 221.2 222.2 1.0 6.52 BF-046-50 230.2 231.7 1.5 0.99 BF-048-16 89.8 91.3 1.5 29.6 BF-048-22 98.8 100.3 1.5 1.97 BF-048-52 144.8 146 1.2 1.06 New BF-052-6 171.1 172.1 1.0 1.08 New BF-052-37 226.6 227.6 1.0 1.19 New BF-052-43 232.6 233.6 1.0 8.66 New BF-052-48 237.8 239.3 1.5 1.58 k-13-C-023 22.5 23.5 1.0 2.2 4.5 k-13-C-028 27.5 28.6 1.1 8.6 6.2 k-13-C-030 29.8 31.0 1.2 24.0 6.0 k-15-C-10368 8.0 10.0 2.0 12.0 0.5 New BF-K-500-3 3.0 4.5 1.5 1.24 New BF-K-511-5 6.0 7.0 1.0 1.23 New BF-K-511-6 7.0 8.0 1.0 1.48 New BF-K-513-8 10.0 11.5 1.5 8.38 New BF-K-513-15 18.0 19.0 1.0 4.76 New BF-K-5036-12 15.0 16.0 1.0 1.33 New BF-K-5036-19 22.0 23.0 1.0 9.35 New BF-K-15-C-4 4.5 5.5 1.0 0.97 New BF-K-15-C-10 11.0 12.0 1.0 1.14Oleninskoye 7 BF-029-52 120.60 121.80 1.20 2.90 1.44 BF-031-16 64.45 65.10 0.65 5.25 3.90 k-BF027-12 12.0 13.0 1.0 50.2 9.92 k-BF028A-020 21.6 22.1 0.5 1.2 k-BF028A-024 25.2 26.0 0.8 1.2 28.0 k-BF-025A-2 3.1 4.1 1.0 1.22 k-BF-077-6 15.7 17.2 1.5 0.76Oleninskoye (Northern k-BF056-073 86.7 87.2 0.5 1.19 2.32subzone) Connexions PR Ph + 353 (0) 86 245 4215 This information is provided by RNS The company news service from the London Stock Exchange