Ovoca Bio Regulatory News (OVB)

16 Jul 2008 07:00

Ovoca Gold plc ("Ovoca" of the "Company")

Operational Update

Ovoca (London AIM (OVG.L), Frankfurt (OVX.GR) and Dublin IEX (OVX.IR)) is pleased to announce that an underground reconstruction programme to clear and reinforce Adit 1b to permit access deeper into the Goltsovoye mine and create areas for the placing of drill rigs has commenced as part of the pre-production development programme at the Goltsovoye silver deposit in Magadan. Adit 1b's portal gives access to ore body 2, the richest at Goltsovoye, which is scheduled for mining during the initial years of mine life. 

Leonid Skoptsov, the Ovoca CEO, stated:

"The increase in size of the Adit 1b means that the first stage of mine development will now commence. We will gain access to the stoping areas to be developed in the early years of production and create underground diamond drill stations, which will enable us to increase the Proven and Probable reserves. This will also present the opportunity to plan, in detail, the early month's mill head grades from detailed underground sampling outside the areas currently accessible. This is a major step forward in the development of Goltsovoye."

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