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14 Jul 2009 14:14
Ovoca Gold plc
9 hole diamond drilling programme completed on the Oleninskoye gold deposit
Ovoca Gold plc ("Ovoca" or the "Company") announces that it has recently completed a nine hole diamond drilling programme on the Oleninskoye deposit in the Company's licences in the Kola peninsula, north western Russia. The results of the drilling programme were assays of up to 9.2 grams per tonne gold and 46.6 grams per tonne silver over a 1 metre interval and up to 5.8 grams per ton gold and 34.4 grams per ton silver in a 3.2 metre drill hole intersection. The holes were drilled on a tight 30 metre by 30 metre grid in an attempt to understand the "nugget effect" (the erratic distribution of gold and silver grades within an ore body) which had been shown to exist within the vein system, as previous drilling results showed sporadic high grades of up to 141.8 grams per ton gold.
Table 1. Summary of 2009 Drilling Results
|
DDH No |
From |
To |
Intersection |
Gold |
Silver* |
|
|
Meters |
Meters |
Meters |
grams/ton |
grams/ton |
|
ODD-1 |
30.1 |
32.0 |
1.9 |
1.47 |
3.50 |
|
including |
30.1 |
31.0 |
0.9 |
1.52 |
4.47 |
|
and |
31.0 |
32.0 |
1.0 |
1.42 |
2.63 |
|
ODD-1 |
34.0 |
35.0 |
1.0 |
1.72 |
< 1.00 |
|
ODD-1 |
46.4 |
48.2 |
1.8 |
3.80 |
31.65 |
|
including |
46.4 |
47.3 |
0.9 |
3.55 |
40.60 |
|
and |
47.3 |
48.2 |
0.9 |
4.04 |
22.70 |
|
ODD-1 |
53.5 |
54.5 |
1.0 |
4.57 |
3.90 |
|
ODD-2 |
82.0 |
84.1 |
2.0 |
5.35 |
27.05 |
|
including |
82.0 |
83.0 |
1.0 |
7.30 |
43.00 |
|
and |
83.0 |
84.1 |
1.0 |
3.40 |
11.10 |
|
ODD-2 |
84.1 |
85.2 |
1.1 |
1.33 |
2.08 |
|
ODD-2 |
87.4 |
88.6 |
1.2 |
1.30 |
< 1.00 |
|
ODD-3 |
16.0 |
17.2 |
1.2 |
1.37 |
1.44 |
|
ODD-3 |
31.7 |
32.8 |
1.1 |
1.60 |
51.60 |
|
ODD-3 |
35.1 |
36.2 |
1.1 |
2.67 |
2.86 |
|
ODD-4 |
41.5 |
42.6 |
1.1 |
3.94 |
5.60 |
|
ODD-4 |
72.2 |
73.4 |
1.2 |
1.81 |
3.80 |
|
ODD-5 |
78.0 |
79.1 |
1.1 |
1.18 |
1.50 |
|
ODD-5 |
91.7 |
93 |
1.3 |
1.20 |
< 1.00 |
|
ODD-6 |
11.1 |
12.1 |
1.0 |
1.30 |
< 1.00 |
|
ODD-6 |
21.2 |
22.3 |
1.1 |
1.05 |
1.56 |
|
ODD-7 |
49.8 |
51.2 |
1.4 |
2.15 |
8.90 |
|
ODD-7 |
56.0 |
57.1 |
1.1 |
1.46 |
00 |
|
ODD-7 |
65.0 |
66.1 |
1.1 |
1.73 |
1.21 |
|
ODD-8 |
75.4 |
76.5 |
1.1 |
1.14 |
2.24 |
|
ODD-8 |
97.1 |
98.2 |
1.1 |
1.02 |
2.40 |
|
ODD-8 |
100.4 |
102.4 |
2.0 |
5.77 |
12.78 |
|
including |
100.4 |
101.6 |
1.2 |
8.20 |
12.50 |
|
and |
101.6 |
102.4 |
0.8 |
2.12 |
13.20 |
|
ODD-8 |
104.3 |
105.4 |
1.1 |
1.36 |
< 1.00 |
|
ODD-8 |
107.7 |
108.8 |
1.1 |
1.64 |
< 1.00 |
|
ODD-9 |
78.8 |
79.8 |
1.0 |
1.05 |
< 1.00 |
|
ODD-9 |
106.4 |
108.6 |
2.2 |
3.60 |
19.48 |
|
including |
106.4 |
107.3 |
0.9 |
2.74 |
5.00 |
|
and |
107.3 |
108.6 |
1.3 |
4.20 |
29.50 |
|
ODD-9 |
109.6 |
112.8 |
3.2 |
5.87 |
34.40 |
|
including |
109.6 |
110.6 |
1.0 |
9.20 |
46.60 |
|
and |
110.6 |
111.7 |
1.1 |
6.10 |
42.40 |
|
and |
111.7 |
112.8 |
1.1 |
2.61 |
15.30 |
|
ODD-9 |
120.0 |
120.9 |
0.9 |
1.10 |
1.10 |
|
ODD-9 |
132.5 |
133.3 |
0.8 |
1.50 |
7.20 |
|
ODD-9 |
135.2 |
136.0 |
0.8 |
3.90 |
5.90 |
|
* - 00 - silver grade less than lab detection limit |
|||||
Table 2. Summary of previous Drilling Results
|
DDH No |
From |
To |
Intersection |
Gold |
|
|
Meters |
Meters |
Meters |
grams/ton |
|
C-BF-045 |
111.0 |
112.5 |
1.5 |
1.27 |
|
C-BF-045 |
118.3 |
119.3 |
1.0 |
1.35 |
|
C-BF-045 |
119.3 |
120.3 |
1.0 |
2.18 |
|
C-BF-045 |
123.2 |
124.7 |
1.5 |
88.60 |
|
C-BF-046 |
221.0 |
222.2 |
1.2 |
6.52 |
|
C-BF-048 |
89.8 |
91.3 |
1.5 |
29.60 |
|
C-BF-048 |
98.8 |
100.3 |
1.5 |
1.97 |
|
C-BF-048 |
144.8 |
146.0 |
1.2 |
1.06 |
|
C-BF-052 |
171.1 |
172.1 |
1.0 |
1.08 |
|
C-BF-052 |
226.6 |
227.6 |
1.0 |
1.19 |
|
C-BF-052 |
232.6 |
233.6 |
1.0 |
8.66 |
|
C-BF-052 |
237.8 |
239.3 |
1.5 |
1.58 |
|
C-BF-053 |
196.2 |
197.1 |
0.9 |
3.24 |
|
C-BF-054 |
47.0 |
49.0 |
2.0 |
1.07 |
|
C-BF-058 |
79.5 |
81.5 |
2.0 |
2.29 |
|
C-BF-060 |
85.0 |
86.5 |
1.5 |
1.47 |
|
C-BF-060 |
95.0 |
96.2 |
1.2 |
4.17 |
|
C-BF-060 |
96.2 |
97.4 |
1.2 |
1.18 |
|
C-BF-061 |
87.9 |
89.4 |
1.5 |
1.24 |
|
C-BF-061 |
90.4 |
91.4 |
1.0 |
2.57 |
|
C-BF-075 |
43.8 |
45.3 |
1.5 |
13.70 |
|
C-BF-112 |
334.0 |
335.5 |
1.5 |
4.30 |
|
C-BF-039 |
193.2 |
194.2 |
1.0 |
2.10 |
|
C-BF-040 |
105.4 |
107.5 |
2.1 |
1.00 |
|
C-BF-040 |
163.0 |
165.0 |
2.0 |
5.20 |
|
C-BF-027 |
124.8 |
125.9 |
1.1 |
1.04 |
|
C-BF-027 |
150.4 |
150.9 |
0.5 |
4.20 |
|
C-BF-027 |
150.9 |
152.5 |
1.6 |
1.05 |
|
C-BF-027 |
215.2 |
216.2 |
1.0 |
1.79 |
|
C-BF-027 |
216.2 |
217.9 |
1.7 |
4.97 |
|
C-BF-027 |
217.9 |
218.9 |
1.0 |
2.70 |
|
C-BF-028 |
108.4 |
111.2 |
2.8 |
83.81 |
|
including |
108.4 |
109.4 |
1.0 |
141.80 |
|
and |
109.4 |
111.2 |
1.8 |
51.60 |
|
C-BF-028 |
145.7 |
146.5 |
0.8 |
1.25 |
|
C-BF-028 |
179.2 |
180.1 |
0.9 |
6.30 |
|
including |
179.2 |
179.5 |
0.3 |
3.94 |
|
and |
179.5 |
180.1 |
0.6 |
2.88 |
|
C-BF-028 |
229.2 |
230.6 |
1.4 |
1.19 |
|
C-BF-029 |
120.6 |
121.8 |
1.2 |
2.90 |
|
C-BF-031 |
64.4 |
64.7 |
0.3 |
5.25 |
|
C-BF-031 |
64.7 |
65.1 |
0.4 |
4.60 |
|
C-BF-039 |
59.2 |
60.2 |
1.0 |
1.71 |
|
C-BF-039 |
69.9 |
71.9 |
2.0 |
8.30 |
The next step for the Company is to evaluate the results of this drilling programme together with past results to determine if Oleninskoye warrants additional geological exploration.
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 contact
|
Ovoca Gold plc |
|
|
Mr. Danesh Varma CFO |
+44 (0)20 7937 8151 danesh.varma@ovocagold.com |
|
Mr. Leonid Skoptsov CEO |
+7 495 648 26 46 leonid.skoptsov@ovocagold.com |
|
Davy |
|
|
John Frain |
+353 1 614 679 6363 |
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