Last checked at 7 Jul 2014 07:00
Orogen Gold plc
("Orogen" or the "Company")
Mobilisation of drill to Mutsk gold project in Armenia
Orogen Gold plc (AIM:ORE), the AIM quoted gold exploration company, announces the mobilisation of a drill rig to commence its 2014 diamond drilling programme at the Mutsk gold project in Armenia.
Highlights:
· Drilling targeting extensions of previous gold intercepts and several large newly discovered geophysical anomalies
· Minimum programme of 3,000 metres planned
Ed Slowey, Chief Executive of Orogen, commented: "Following on from our encouraging diamond drilling campaign in 2013 and recent geophysics programme which has generated several strong new targets within the permit area, we are pleased to announce the mobilisation of a rig to commence the 2014 follow-on drilling programme at Mutsk. We anticipate an active news flow from the property as work progresses."
About the Mutsk Project
The Mutsk Project is located in southern Armenia at about 2,000m elevation and is three hours' drive from the capital Yerevan. The site is accessible most of the year other than during the core winter months. Maps showing the location and details of the project are available on the Company's website.
Low sulphidation epithermal-type pyrite-gold mineralisation was discovered by limited drilling in altered and brecciated tuffs, similar in age to those that host the Lydian International high sulphidation Amulsar gold deposit (4.1 million ounces in Measured, Indicated and Inferred Resources) located 30km to the northwest, also in Armenia. More recent drilling by Orogen has intersected zones of enhanced gold grade and wider zones of lower-grade mineralisation. Geophysical surveying earlier in 2014 identified several strong new targets for drill testing in the current year.
Orogen has an exclusive agreement with Georaid CJSC to earn an 80% interest in the property by spending a total of US$2.5m by the end of August 2016.
-ENDS-
Approval
Ed Slowey, CEO of Orogen, is a Competent Person as defined by various international instruments and takes responsibility for the release of this information.
Enquiries:
Orogen Gold Plc | +353 1662 8395 |
Ed Slowey, CEO | |
Alan Mooney, FD | |
WH Ireland Limited (Nominated Adviser and Broker) | +44 (0) 20 7220 1666 |
Tim Feather | |
James Bavister | |
XCAP Securities plc (Joint Broker) Jon Belliss Walbrook (Public Relations and Investor Relations) | +44 (0) 207 101 7070 +44 (0) 20 933 8780 |
Paul Cornelius/ Guy McDougall | |
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About Orogen Gold
Orogen Gold plc is a UK public company quoted on the London Stock Exchange AIM market (ticker: ORE). The Company is focused on mineral exploration and development in Europe and is currently operating two gold exploration projects: a) at Mutsk in Armenia and b) at Deli Jovan in Serbia. The Mutsk gold project in Armenia was optioned by Orogen early in 2013 to follow-up reports of a new epithermal discovery within an established gold district. At Deli Jovan the historic high-grade gold mining camp was last in production prior to World War II and has been significantly under-explored in modern times.