SpaceX IPO is the biggest IPO in stock market history. Join the conversation.Click here

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSosandar Regulatory News (SOS)

Share Price Information for Sosandar (SOS)

Share Price is delayed by 15 minutes
Get Live Data
11.00    0.00 (0.00%)
Bid:
0.00
Ask:
0.00
Spread: 1.00 (9.524%)
Market Cap: £24.00m
SOS Live PriceLast checked at - London Stock Exchange

Intraday Sosandar Share Chart

Operational Update

5 Dec 2011 07:00

RNS Number : 2934T
Orogen Gold PLC
05 December 2011
 



5 December 2011

 

 

Orogen Gold Plc

('Orogen' or 'the Company')

 

Operational Update

 

 

Orogen Gold Plc (AIM:ORE) the AIM listed mineral exploration company, focussed on gold exploration and development in eastern Europe, gives an operational update on its Deli Jovan project in Eastern Serbia.

 

The Company is pleased to report that in October it began its programme of underground mapping and sampling at both the former Gindusa and Rusman mines.

 

The work of accessing the historic Deli Jovan mines has progressed well. When Orogen embarked on this project, very little was known about the mines which had been sealed off for over 70 years and the Board could not be sure of what obstacles would be encountered.

 

The Company is pleased to report that it has gained access to the upper levels at both mines and following further de-watering and recovery work the team should be able to gain access to the lowest levels. In the meantime the mapping programme is close to completion in the upper levels at Rusman and this work will continue for the next few weeks at both mines. The mapping programme will be supplemented by an underground sampling programme that will help identify targets for a drilling programme that the Company is planning for 2012. Initial indications are that the Gindusa mine represents the more productive of the two former mines, with evidence of pyrite-mineralised quartz veining and open stoping both in the lateral and vertical dimensions. This substantiates the historic reports that Gindusa was a significant gold producer in the past and also supports the potential to uncover new gold zones to the south and west as indicated by the recent soil sampling results.

 

Results of the mapping and sampling programme should be available for release in Q1 of 2012 at which time Orogen expects to be in a position to define the drilling programme in detail. In the meantime the Company has already reserved a diamond drilling rig in readiness for the commencement of the drilling programme which is scheduled for start-up in April 2012.

 

The Company would like to draw shareholders' attention to the updated presentation on the Company website www.orogengold.com. The presentation contains additional information on the recent results of the soil sampling programme along with a timeline of future planned activity, amongst other information.

 

Chief Executive of Orogen Gold Plc, Ed Slowey, commented from the Deli Jovan project in Serbia:

 

"We knew it could be a challenging task regaining access to historic mines that hadn't been disturbed for over 70 years; the extent of the work involved would only become apparent once we began. It is therefore pleasing to be progressing towards access of all working levels in the two mines. Mapping and sampling of these underground workings is an integral part of our programme in understanding the anatomy of this gold mineralising system. The information we gain from this work will be invaluable as it will guide the first diamond drilling programme in the Spring of 2012 to test the strike and depth continuity of these gold lodes."

 

"The health and safety aspect of our work is of paramount importance to us and we are being very careful to proceed only when we have the necessary permits in place."

 

"The placing announced on 28 November 2011 puts Orogen on a strong footing at this critical stage in our development. The Company is now fully funded through to the end of Phase 1 of our exploration programme, encompassing the first planned 7,500 metres diamond drilling campaign, and is also able to progress through a substantial part of Phase 2."

 

"We look forward to updating shareholders further as we progress the exploration programme and move towards drill testing at the Deli Jovan gold field in the coming year."

 

 

 

Orogen Gold Plc

Ed Slowey, CEO

Alan Mooney, FD

 

+353 1662 8395

 

 

Zeus Capital Limited

Nominated Adviser and Joint Broker

Ross Andrews/Tom Rowley

 

 

+44 (0)161 831 1512

XCAP Securities Plc

Joint Broker

John Grant/Karen Kelly

 

 

 

+44 (0) 207 101 7070

Hansard

Financial PR

Guy McDougall/Nicholas Nelson

 

 

 

+44 (0) 207 245 1100

 

 

Notes to Editors

 

The Deli Jovan gold project is in eastern Serbia, the site comprising two shallow underground gold mines at Rusman and Gindusa, about 6 kilometres apart along a major shear zone, that were last in production over seventy years ago.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCFSUFMEFFSESE
Date   Source Headline
15th Oct 20157:00 amRNSDiamond Drilling re-commences in Armenia
30th Sep 20154:52 pmRNS£450,000 Equity Fundraising
30th Sep 20157:00 amRNSAppt CEO, Grant of Options, Other Board Changes
30th Sep 20157:00 amRNSHalf Yearly Report
10th Jun 201512:29 pmRNSResult of AGM
11th May 20157:00 amRNSFinal Results for the year ended 31 December 2014
1st Apr 20157:00 amRNSSignificant Shareholder
27th Mar 20157:00 amRNSIssue of Equity
24th Mar 201512:17 pmRNSAppointment of Broker
20th Mar 201512:46 pmRNSRe: Broker
3rd Feb 20157:00 amRNSMutsk gold project update and Issue of Equity
19th Dec 20143:05 pmRNSResult of General Meeting
18th Dec 20147:00 amRNS4,000m Drilling Programme Completed on Schedule
25th Nov 201412:00 pmRNSPublication of Circular and Notice of GM
17th Nov 20147:00 amRNSFurther drilling extends gold discovery at Mutsk
3rd Nov 20147:00 amRNSChange of Adviser
20th Oct 20144:18 pmRNSDirector/PDMR Shareholding
20th Oct 20147:00 amRNSIssue of Equity and Total Voting Rights
16th Oct 20147:00 amRNSPlacing of £75,000 with Directors
14th Oct 20147:00 amRNSFurther drilling confirms continuity of gold zone
22nd Sep 20147:00 amRNSFurther drill assays extend gold discovery - Mutsk
16th Sep 20147:00 amRNSInterim Results
10th Sep 20147:00 amRNSPlacing raising £1.125m - further drilling - Mutsk
8th Sep 20147:00 amRNSDrilling - Wide zones of gold mineralisation
24th Jul 20147:47 amRNSAppointment of Director
7th Jul 20147:00 amRNSMobilisation of drill rig
1st Jul 20147:00 amRNSDrilling for Equity Agreement
3rd Jun 20147:00 amRNSMutsk Gold Project, Armenia - Operational Update
19th May 20141:25 pmRNSResult of AGM
23rd Apr 20147:00 amRNSFinal Results for the year ended 31 December 2013
7th Apr 20147:00 amRNSMutsk gold project - Operational Update
3rd Apr 20149:00 amRNSHolding(s) in Company
28th Mar 20144:16 pmRNSUK Investor Show - Saturday 5 April
3rd Mar 20147:00 amRNSMutsk results update and programme for Spring 2014
8th Jan 20149:56 amRNSHolding(s) in Company
19th Dec 20137:00 amRNSOperational Update
16th Dec 20132:08 pmRNSHolding(s) in Company
6th Nov 20137:00 amRNSDirector Resignation
23rd Oct 20132:16 pmRNSDrilling commences at Mutsk, Armenia
7th Oct 20133:00 pmRNSAnalyst Presentation
4th Oct 20137:00 amRNSFund raising to accelerate drilling at Mutsk
24th Sep 20137:00 amRNSInterim Results
30th Aug 201310:29 amRNSStakeholder Conference Call
30th Aug 20137:00 amRNSNew gold discovery confirmed at Mutsk, Armenia
30th Jul 20135:54 pmRNSStakeholder conference call completed
24th Jul 20137:00 amRNSStakeholder conference call
18th Jul 20137:00 amRNSAppointment of joint broker
4th Jul 20137:00 amRNSTrenching at Gindusa West - very high gold grades
9th May 201312:53 pmRNSResult of AGM
25th Apr 20137:00 amRNSOperational Update

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.