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7 Dec 2009 14:09
Ovoca Gold plc ("Ovoca" or the "Company")
Drilling Update
Ovoca announces that it has resampled and tested previously drilled core material on the Oleninskoye deposit in the Company's licences in the Kola peninsula, north western Russia.
Following a review of previously announced drilling results, Ovoca's geologists decided to follow a new sample preparation technique, which was recommended to them by TsNIGRI, a leading Russian Institute (www.tsnigri.ru). The technique used is geoelectric down hole survey to identify anomalous sections along the core length, as well as sample preparation to take into account the presence of free gold particles up to 0.5-1.0 mm in size in the drill core.
Highlight results for the retest samples, are compared to the previous results from the same samples in the table below:
|
No. |
Bore hole ID number |
Sample |
Interval, m |
Au, g/t retest 2009 |
Previous Au assay, g/t |
||
|
from |
to |
length |
|||||
|
1 |
C-BF-115 |
21 |
60.8 |
62.3 |
1.5 |
6.35 |
0.33 |
|
2 |
C-BF-116 |
22 |
105.3 |
106.8 |
1.5 |
8.18 |
0.27 |
|
3 |
C-BF-112 |
71 |
332.0 |
334.0 |
2.0 |
1.33 |
0.17 |
|
4 |
C-BF-076 |
6 |
33.4 |
34.4 |
1.0 |
3.01 |
|
|
5 |
C-BF-078 |
14 |
83.9 |
84.9 |
1.0 |
7.25 |
0.34 |
|
6 |
C-BF-152 |
121 |
341.9 |
343.1 |
1.2 |
7.50 |
0.20 |
|
7 |
C-BF-154 |
40 |
99.0 |
101.7 |
2.7 |
1.43 |
0.29 |
|
8 |
C-BF-154 |
47 |
113.0 |
115.0 |
2.0 |
6.00 |
|
|
9 |
C-BF-154 |
49 |
117.0 |
118.5 |
1.5 |
8.59 |
0.65 |
|
10 |
C-BF-155 |
43 |
130.3 |
132.4 |
2.1 |
14.80 |
1.10 |
|
11 |
C-BF-155 |
70 |
184.9 |
186.9 |
2.0 |
2.36 |
0.25 |
|
12 |
C-BF-158 |
25 |
196.5 |
197.8 |
1.3 |
8.55 |
2.48 |
The new data is significant for the Oleninskoye project, as it implies that the potential of the ore body is higher than previously thought. A programme of resampling and retesting of drill core has been developed by Ovoca which is expected to be completed by the end of the first quarter 2010.
Tim McCutcheon, CEO, comments: "These results are a testament to the thoroughness by which our geologists look at collected data. TsNIGRI is a well respected institution, and the technique recommendation that they made and was implemented by the Company will be used in the future to improve our understanding of Oleninskoye's potential value. I believe Oleninskoye looks much more attractive now that we have this new data and I look forward to receiving the full results of the retest programme."
Qualified Person
The above information has been reviewed and verified by Mr. Roger Turner 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 a M.Sc. degree in Economic Geology from Leicester University and is a member in good standing with the Institute of Materials, Minerals and Mining and a UK Chartered Engineer.
For further information please visit www.ovocagold.com or contact:
Ovoca Gold plc
Timothy McCutcheon +7 495 916 6029 tim.mccutcheon@ovocagold.com
Mr Danesh Varma, CFO +44 207 653 9881 danesh.varma@ovocagold.com
Davy
John Frain +353 1 679 6363
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