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Operational Update

19 Dec 2013 07:00

RNS Number : 9148V
Orogen Gold PLC
19 December 2013
 



19 December 2013

 

Orogen Gold

("Orogen" or the "Company")

 

Operational Update - Deli Jovan Drill Results and Mutsk Progress

 

Orogen Gold plc (AIM:ORE), the AIM quoted gold exploration company, announces results from its recent drilling programmes at Deli Jovan in Serbia and Mutsk gold property in Armenia.

 

Highlights:

 

· Deli Jovan

· Drilling at Gindusa West on the Deli Jovan property confirms high grade gold intervals beneath strong surface mineralisation

· Assay intervals include 0.5m @ 102g/t Au and 0.7m @ 83g/t Au

 

· Mutsk

· 10-hole diamond drill programme successfully completed at Mutsk - results awaited

· Fine free gold identified in thin section from drill core at Mutsk

· Potential for high grade gold zones at depth highlighted by Mutsk petrographic study

 

 

Ed Slowey, Chief Executive of Orogen, commented: "The assay results from the Gindusa West shallow drilling programme in Serbia confirm that the high grade gold-bearing veins located by trenching at surface can be traced to depth. The assay results will be analysed over the coming weeks to determine the continuity and shallow resource potential of the system at Gindusa West as well as the deeper potential in the vicinity of the old Gindusa mine.

 

"At Mutsk we were very pleased to complete the planned 10-hole drill programme before the onset of winter. We are highly encouraged by the identification of fine free gold in a thin section taken from drill core and by positive conclusions from a petrographic study regarding the potential for high grade gold zones at deeper levels in the mineralising system. We look forward to receiving further assay results from this exciting prospect in the New Year."

 

 

Deli Jovan Project, Serbia

 

Over the past two months, a programme of 15 short, angled drill holes totalling 1,426.2 metres has been completed at Gindusa West, which is 2 kilometres northwest of the historic underground Gindusa gold mine. The programme is testing the down-dip continuation of gold-bearing shear-hosted quartz veins, lying at or near surface. Holes were drilled on seven profiles 40 metres apart, covering much of the 300 metre strike length of a complex shear zone which was discovered by Orogen's trenching work completed during the past year.

 

Significant gold-bearing intervals from the Orogen drill programme are summarised in the table below:

Gindusa West Diamond Drill Results - Selected Assay Intervals

Hole No.

Depth From (m)

Depth To (m)

Interval* (m)

Grade (Au g/t)

DE-GEA06

56.0

56.5

0.5

102.00

 

 

 

 

 

DE-GEA07

43.4

44.1

0.7

6.09

 

 

 

 

 

DE-GEA10

6.5

7.2

0.7

83.00

 

 

 

 

 

DE-GEA11

98.0

98.5

0.5

3.15

 

 

 

 

 

DE-GEA12A

46.1

47.1

1.0

5.49

Including

46.6

47.1

0.5

10.70

 

 

 

 

 

DE-GEA13

25.6

28.1

2.5

1.16

 

 

 

 

 

DE-GEA14

47.6

52.7

5.1

3.04

Including

51.9

52.7

0.8

15.50

 

 

 

 

 

DE-GEA19

21.6

22.1

0.5

2.00

*Downhole intervals reported are believed to represent close to true width

Continuity of the shear zone was confirmed along strike and as far as the drilled depth of 80-90 metres vertically. Quartz veining and gold-bearing pyrite mineralisation within the zone appear to be irregularly distributed, with some locally very high grade intercepts, sometimes enveloped by lower grade haloes.

Orogen will now review the drilling results in tandem with the previous surface trench data during the winter closed season in order to assess the potential for resource estimation of the shallow gold mineralisation at Gindusa West.

 

Sampling, Assaying, and Quality Assurance / Quality Control

Drilling work at Deli Jovan was carried out by an experienced Serbian contractor, using large diameter HQ core to optimise sample size for more accurate assay results. Core splitting, sampling and logging was undertaken by the Deli Jovan project team contracted from our partners, Reservoir Minerals under Orogen's control. Split core samples were crushed and milled at a new ALS Minerals sample preparation facility in Bor, Serbia and samples were assayed at the ISO 17025 accredited ALS Minerals analytical laboratories in Rosia Montana, Romania. QA/QC was ensured throughout the sample handling process and by the insertion of certified standards and blank samples, as well as by in-house laboratory checking.

 

 

Mutsk Project, Armenia

 

Orogen has successfully completed its planned 10-hole diamond drill programme at Mutsk totalling 957.5 metres before closure of the weather window. Vertical and angled holes were laid out to test the continuity and structural controls on near-surface epithermal gold mineralisation outlined by earlier wide-spaced shallow drilling. The drill core has been logged and sampled in preparation for laboratory assay. The information gained will assist with the preparation of a more substantial drilling programme which is planned for 2014. Orogen looks forward to updating shareholders with these results as soon as they are received.

 

A report was received from Dr Jim Oliver, a consultant geologist specialising in porphyry and epithermal mineral deposits, on thin section samples taken from earlier drill core specimens at Mutsk. Analysis of polished, thin sections confirms that fine visible gold was identified at 27.2 metres depth in diamond drill hole DDB-07. Analytical data previously reported, indicated that this borehole carried 3.27g/t Au between 22.0 and 36.0 metres.

The Company now believes that the hydrothermal alteration and mineralisation encountered sits at a high level in the epithermal system, with a possible relationship to quartz diorite intrusions logged in some of the drill holes. This suggests that high grade gold feeder/boiling zones may be preserved at deeper levels in the system, which have not yet been tested by drilling.

 

 

-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

+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 and Investor Relations)

+44 (0) 207 101 7070

 

 

 

+44 (0) 20 933 8780

Paul Cornelius/Guy McDougall

 

 

 

About Orogen Gold

Orogen is a UK public company quoted on the London Stock Exchange AIM market (ticker: ORE). The Company's activities are focused on mineral exploration and development in Europe. 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. The historic high-grade gold mining camp at Deli Jovan in Serbia was last in production prior to World War II and has been significantly under-explored in modern times.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCFFLFMAFDSEIE
Date   Source Headline
11th Mar 20137:00 amRNSFinal Results
27th Feb 20137:00 amRNS2013 Exploration Programme
18th Feb 20134:30 pmRNSHolding(s) in Company
22nd Jan 20137:00 amRNSHighly prospective Armenia gold property optioned
18th Jan 20137:00 amRNSChange of Adviser
28th Dec 201212:00 pmRNSRe-pricing of Share Options
28th Dec 20127:00 amRNSIssue of Equity
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30th Nov 20127:00 amRNS£5 million Financing Facility Secured
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