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22 Feb 2011 07:00
22 February 2011
Ovoca Gold plc ("Ovoca" or the "Company")
Director Appointment
Ovoca announces the appointment of Kenneth Kuchling, P.Eng (53) as a Non-Executive Director with effect from 1 March 2011. Mr. Kuchling provides mining consulting services with multiple clients globally. He has worked on such projects as Northgate Mining's Kemess North copper-gold mine in Canada, NovaGold's Rock Creek project in Canada, Oromin Explorations' Sabodala gold project in Senegal, as well as having assisted with BHP Billiton's study of potash projects globally. Additionally, from 1997 to 2000 Mr. Kuchling was the Senior Mining Engineer for Rio Tinto's Diavik Diamond Mine in Canada playing a key role in completing the feasibility study and permitting of the project.
Kenneth has an M. Eng. (1984) in Mining Engineering from the University of British Columbia, Vancouver, Canada, and a B. Eng. (1980) in Mining Engineering from McGill University, Montreal, Canada.
Mr. Kuchling currently has no other directorships.
The Company also announces that in accordance with the Company's share option scheme it has issued 200,000 options to Kenneth Kuchling with a strike price of 36p.
There is no further information that is required to be disclosed pursuant to Schedule Two paragraph (g) of the ESM
Rules or the AIM Rules in relation to Mr. Kuchling.
Tim McCutcheon, CEO, comments: "We are extremely excited about Ken joining our board, as he brings to Ovoca his
extensive technical knowledge and experience in mine engineering and study management, particularly in Northern conditions where our properties are located. As we advance our assets his experience will be invaluable to the Company."
Notes to Editors
Ovoca Gold PLC ("Ovoca" or "the Company") is a mineral exploration and mine development company listed on the AIM market of the London Stock Exchange (Ticker: OVG) and on the ESM market of the Irish Stock Exchange (Ticker: OVX). The Company‟s principal activity is gold exploration in the Magadan Region of the Russian Federation. Previously Ovoca acquired, developed and sold to JSC Polymetal for US$47.7 million at the time of closing the Goltsovoye silver project located in the Magadan Region. Currently, Ovoca is aggressively exploring and developing its 100 per cent owned Stakhanovsky, Rassoshinskaya and Nevsko-Pestrinskoye licenses.
Stakhanovsky is located approximately 40 kilometres north of Susuman, the second largest city in the Magadan region. It is accessible by year-round road and there is power infrastructure on site. The Company intends to put Stakhanovsky into production by 2013.
Rassoshinskaya is in the North Eastern part of the Magadan Region about 200 kilometres from the town of Simchan. There is no nearby infrastructure. Rassoshinskaya hosts an epithermal gold deposit named Olcha, as well as other
gold and gold-silver targets. Olcha and nearby satellite deposits have the potential to host a high grade multi-million ounce gold resource.
Nevsko-Pestrinskoye is located in the central part of the Magadan region near the town of Omsukchan. A year-round road and powerline are near the site. The license completely surrounds the Goltsovoye silver deposit. Ovoca intends to investigate and explore known mineral occurrences that extend beyond the Goltsovoye license area onto Nevsko-Pestrinskoye.
Ovoca Gold Plc
Timothy McCutcheon +7 495 916 6029 tim.mccutcheon@ovocagold.com
Davy
John Frain +353 1 679 6363
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