Ovoca Bio Regulatory News (OVB)

2 Nov 2006 10:56

Ovoca Gold PLC02 November 2006 OVOCA GOLD PLC Ovoca announces high-grade silver intersections Ovoca Gold Plc (AIM: OVG; IEX: OVX) is pleased to announce additional drillingresults from its 2006 drilling programme on the Goltsovoye Silver Deposit, inthe Magadan Province of Eastern Russian. These additional drilling results (detailed in the table below) show assays of up to 3,710 grammes per tonne of silver and, following on from the previously reported drilling results, continue to confirm the presence of a high grade silverdeposit. Commenting on these additional drilling results, Dr. Barrie Oakes, Chief Executive Officer of Ovoca Gold stated that: "The assay results from the drilling programme continue to demonstrate that Goltsovoye is one of the highest grade silver deposits in the world". Results to date of the 2006 Drilling Programme on the Goltsovoye Silver Deposit The drilling programme is concentrated on 2 zones and covers an area of 2 squarekilometres with the objectives of confirming previous Soviet exploration dataand upgrading resources. To date 3,288 metres, in 19 holes, of drilling havebeen completed with assays for 6 holes received to date from a planned 3,920metres in a 25 hole programme. This programme will be completed by the end ofNovember.Wardell Armstrong International is working on a Bankable Feasibility Study on the Goltsovoye Silver deposit, Ovoca Gold's flagship project, with production planned for 2008. The drilling programme is part of this study and the results reported below are from the Zone 1 ore bodies. Borehole Interval Length Silver From To Grammes per Ounces per tonne Zone 1 (metres) tonne (metres) (metres)New Results GDA-1 100.0 100.5 0.5 1,022 32.86 GDA10 81.5 83.3 1.8 874 28.1 Including 82.6 83.3 0.7 1,891 60.79 GDA-12 56.8 58.8 2.0 493 15.85 GDA-13 78.0 79.0 1.0 851 27.36 120.0 122.0 2.0 1,684 54.14 125.0 129.5 4.5 1,408 45.27 Including 126.3 127.3 1.0 3,710 119.27 128.5 129.5 1.0 1,230 39.54 Previously Reported GDA9 39.6 43.6 4.0 2,857 91.9 Including 39.6 40.6 1.0 10,031 322.5 26.6 33.6 7.0 886 28.5 Including 26.6 27.6 1.0 1,609 51.7 Including 29.6 30.6 1.0 2,152 69.2 Including 31.8 32.6 0.8 1,201 38.6 65.5 66.5 1.0 1,335 42.9 GDA10 90.0 94.0 4.0 1,054 33.9 Including 91.5 92.5 1.0 3,942 126.7 139.3 140.5 1.2 731 23.5 GDA8 102.5 105.35 2.85 2,972 95.5 Including 102.5 104.0 1.5 1,622 52.1 Including 104.95 105.35 0.4 15,057 484.1 Core recovery is between 95% and 100%. The drilling results continue to confirm the presence of significant grades of silver within the main ore bodies of Zone1. Practically all the drill hole intersections are at least 500 grammes per tonne (16 ounces per tonne) silver, higher than the minimum planned mill head grades of 300 grammes per tonne (9.6 oz. per tonne). The above information has been reviewed and verified by Mr. Roger Turner, Director and Chairman of Ovoca, for the purposes of the Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange in March 2006. Mr. Turner, with 40 years of mining engineering, management and consulting experience, graduated as a mining engineer from the Camborne School of Mines, has an MSc degree in Economic Geology from Leicester University and is a member in good standing with the Institute of Materials, Mining and Metallurgy and a UK Chartered Engineer. Glossary: Core Recovery:Difference between the amount of core expected from the metres drilled to the measured amount expressed as a percentage Interval:Measured length of core from top of hole along the length of the hole Ovoca Gold Plc is an international exploration company quoted in London (OVG.L) and Dublin (OVX.IR), exploring for precious and base metals in Russia, Sweden and Ireland For further information please visit www.ovocagold.com or contact: Simon Beardsmore, Commercial Manager - Ovoca Gold Plc Nick Bias / Alex Buck - Buck Bias (UK PR)Tel: +44 (0)207 397 8159 Tel: +44 (0)7887 920 530 / +44 (0)7932 740 452Email: simon.beardsmore@ovocagold.com Email: nick@buckbias.com / alex@buckbias.com John Frain - Davy Richard Chase- Ambrian (AIM Broker)Tel: +353 (0)1 679 6363 +44 (0)207 776 6461Email: john.frain@davy.ie Email: richard.chase@ambrian.com Tom McCormack - Connexions PRTel:+ 353 (0)86 245 4215 + 353 (0)1 230 3015Email: tommcc@indigo.ie 2 November 2006 This information is provided by RNS The company news service from the London Stock Exchange