Oro Gold Resources Ltd. ("Oro Gold" or the "Company") (TSX VENTURE: OGR) announced today that a third diamond drill rig has been mobilized to test developing gold targets at the Company's Trinidad Gold project in Sinaloa State, Mexico. The third rig allows the Company to accelerate step-out drilling with the objectives of: 1) expanding high-grade gold zones at the Taunus, Bocas and Colinas targets, and 2) testing new gold targets identified nearby. Approximately 6,000 metres in 29 diamond drill holes have been completed to date at Trinidad. Recovery of drill intervals in the oxide and clay-rich gold mineralized breccia zone has substantially improved to above 80-90%. Due to difficult ground conditions, the Company continues to experience slower-than-normal drilling rates. The drills are currently averaging about 20 metres per day. The Company has brought in a specialist to determine options for increasing drill production while maintaining high core recovery and completing holes to target depth.
Recent assay results from hole 09TR025 (3.6 g/t gold over 81.8 metres, including 7.1 g/t gold over 31.9 metres-see press release dated September 9, 2009) reported one of the longest gold mineralized intervals to date. This drill intercept confirms the continuity and horizontal-tabular shape of the high-grade gold zone which remains open and untested to the west, south and north. These results will add to the current gold resource in the Inferred category.
The Company is currently drilling step-out holes to the south of the new discovery zone (09TR027 and 028), and also to the north towards the Bocas target (09TR029). A map of the drill hole locations with reference to the high-grade gold new discovery zone can be viewed by clicking here (http://www.orogoldresources.com/oro/userfiles/Trinidad_targets_Sept_29_2009_web.jpg). This zone is now named the HS Zone.
Significant previously reported gold intervals in diamond drill holes in the HS Zone are as follows:
----------------------------------------------------------------------- ----- Core Hole From (m) To (m) Interval (m) Gold (g/t) ---------------------------------------------------------------------------- 08TR012 151.0 212.1 61.1 8.5 ---------------------------------------------------------------------------- 08TR013 147.0 180.6 33.6 3.8 including 160.9 168.2 7.3 15.8 ---------------------------------------------------------------------------- 08TR014 106.2 114.0 7.8 5.3 and 131.0 138.0 7.0 9.7 ---------------------------------------------------------------------------- 09TR015 124.0 189.9 65.9 5.3 including 124.0 166.5 42.5 7.6 ---------------------------------------------------------------------------- 09TR016 160.9 221.5 60.6 3.4 including 160.9 197.4 36.5 5.2 ---------------------------------------------------------------------------- 09TR019 178.5 208.5 30.0 6.3 including 192.0 196.5 4.5 17.6 ---------------------------------------------------------------------------- 09TR020 165.0 177.9 12.9 4.1 and 221.5 234.9 13.4 5.3 ---------------------------------------------------------------------------- 09TR022 25.7 31.1 5.4 1.6 and 120.0 140.9 20.9 8.6 including 120.0 130.1 10.1 17.4 ---------------------------------------------------------------------------- 09TR023 259.10 276.90 17.8 1.5 including 271.10 276.90 5.8 3.8 ---------------------------------------------------------------------------- 09TR025 151.0 232.75 81.75 3.6 including 167.25 199.1 31.85 7.1 including 178.85 199.1 20.25 10.2 ----------------------------------------------------------------------------
About Taunus
Taunus, the Trinidad property's key gold target to date, is situated in an 80 kilometre-long, northwest-trending structural corridor in what the Company references as the Trinidad district. The Taunus gold deposit is interpreted to be hosted in a local pull-apart basin within this corridor.
Mineralization at the Taunus gold target is interpreted to be an oxidized, low-to-intermediate sulphidation, epithermal vein system. The mineralization is characterized by multiphase stockwork veining and hydrothermal brecciation hosted in a clastic unit, quartz-feldspar porphyry intrusive and andesite volcanics. Oro Gold has identified 10 other gold targets within the 650-square-kilometre Trinidad district that are being followed-up.
About Oro Gold
Oro Gold is a publicly-listed junior gold exploration company focusing on gold exploration in Mexico and Panama. The Company's wholly-owned Trinidad property located in Sinaloa State, Mexico continues to be the main focus of exploration and resource definition efforts. Oro Gold's corporate mandate is to increase shareholder value by discovering and defining a multi-million ounce gold deposit that attracts senior gold producers.
ON BEHALF OF THE BOARD OF DIRECTORS
Darren Bahrey, President and CEO
Some statements in this release may contain forward-looking information. These statements include, but are not limited to, statements with respect to future exploration, development and production activities and future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the time and success of future exploration, development and production activities and the timing and amount of expenditures.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Contacts: Oro Gold Resources Ltd. Ariel Cobangbang Investor Relations 604 646-1580 604 642-2411 (FAX) Website: www.orogoldresources.com
SOURCE: Oro Gold Resources Ltd.
A service of YellowBrix, Inc.
Make WallSt.net My Homepage!
