Oro Mining Ltd. (OGR.V) has made significant progress on its Taunus projectwith the sonic drill program:
They are building a great gold deposit. 70% of drill holes are still outstanding. At a share price of 0,30can$ this is a strong buy. This is the last time i am telling you about this stock at this prices. I don't want to hear "i didn't know".
. Be ready for a great week coming for ogr.v
Mr. John Brownlie reports
OROMINING DRILLS 167 METRES OF 2.0 G/T GOLD AT TAUNUS PROJECT, MEXICO
Oro Mining Ltd. has made significant progress on its Taunus projectwith the sonic drill program:
- Discovery of shallow high-grade gold mineralization in an area recently accessible due to the completed dewatering of the Taunus pit:
- Sonic hole SN13 returned 166.6 metres of two grams per tonne gold, including 6.9 grams per tonne gold over 28.5 metres from a downhole depth of 36.7 to 65.2 metres. This hole has discovered gold mineralization in an untested area of the Taunus resource model, and is indicating a potential link between the Eldorado and HS zones.
- The average grade of the mineralized intervals in holes recently drilled by sonic methods in the Eldorado zone is 2.6 grams per tonne gold (average width of 12.7 metres), compared with the average grade of nearby reverse circulation holes in the Eldorado zone of 1.1 grams per tonne gold (average width of 13.5 metres).
- A second sonic rig is being mobilized to complete the planned 5,000-metre drill program by the end of the second quarter. The sonic drilling technique is proving to be effective in the recovery of the mineralized breccia material and definition of the Taunus deposit.
- Oro Mining has signed a surface agreement with the local community which provides provision whereby the company can access and mine the Taunus deposit. With this agreement completed, the company is advancing the Taunus project with an aim of reaching a production decision.
Sonic drill results
Sonic holes SN10, SN11, SN12 and SN13 were drilling inside the existingpit. These are the first sonic holes drilled by Oro Mining in the coreof the Eldorado zone directly below the pit floor. Several holes alsotargeted additional gold-bearing breccia material in untested areasbetween the Eldorado and HS zones. Over all, as shown in the table, thesonic results are returning a higher average gold grade as compared withthe average grade of the nearby RC or diamond holes.
Past nearby drill
Hole Gold intercepts
depth From To Interval grade (RC or diamond drill
Sonic hole (m) (m) (m) (m) (g/t) hole)
SN01 200.0 25.8 53.8 28.0 2.5 0.7 g/t gold over 34.0 m
79.3 85.0 5.7 1.5 n/a
138.4 167.4 29.0 4.6 1.5 g/t gold over 31.8 m
189.7 193.4 3.7 2.6 n/a
SN07 131.2 36.6 46.9 10.4 1.8 1.1 g/t gold over 10.0 m
102.1 104.4 2.3 2.3 n/a
SN08 138.6 30.6 37.1 6.5 1.3 2.3 g/t gold over 2.3 m
48.7 56.1 7.4 2.2 3.8 g/t gold over 2.1 m
125.0 138.6 13.6 2.4 0.7 g/t gold over 5.5 m
SN09 55.0 31.1 38.3 7.2 2.0 0.5 g/t gold over 20.0 m
SN10 39.4 11.2 18.0 6.8 1.4 0.4 g/t gold over 6.0 m
SN11 109.2 0 20.0 20.0 3.7 4.1 g/t gold over 20.0 m
SN12 81.8 1.3 14.5 13.2 2.1 1.2 g/t gold over 10.0 m
SN13 180.0 0 166.6 166.6 2.0 n/a
Including 0 34.0 34 0.5 0.4 g/t gold over 20.0 m
Including 36.7 61.3 24.6 7.7 4.0 g/t gold over 6.0 m
Including 61.3 167.1 105.8 1.1 n/a
Note: The reported intervals are a downhole length, and may not represent a
true width. The table compares the sonic assays with nearby RC or diamond
holes; note that the holes are not twins and the distance between compared
intercepts are in the range of 10 to 20 metres.
Sonic holes SN11 and SN13 were drilled on the same section near thecentre of the pit:
- Sonic hole SN13 intersected two grams per tonne gold over 166.6 metres. This hole targeted the shallow, Eldorado zone as well as the deeper gap zone between the Eldorado and HS zones. The composite(1) is composed of three distinct intervals:
- An upper interval of 0.5 gram per tonne gold over 34.0 metres (from zero to 34.0 metres downhole). This zone is interpreted to be the upper portion of the main Eldorado zone and has an interpreted true width of approximately 30 metres.
- A high-grade interval of eight grams per tonne gold over 24.6 metres (from 36.7 to 61.3 metres downhole), interpreted to be the main Eldorado zone. This interval appears to have a vertical component by changing in dip from approximately 45 degrees to approximately 60 degrees giving it an estimated true width of approximately 11 metres.
- A lower interval of 1.1 grams per tonne gold over 105.8 metres (from 61.3 to 167.1 metres downhole). This portion of the mineralized interval is interpreted to be higher angle or near vertical. The true width of this zone is estimated to be 20 to 30 metres.
- Sonic hole SN 11 is located 15 metres to the west of hole SN13 and intersected the main Eldorado zone of 3.7 grams per tonne over 20.0 metres (from zero to 20.0 metres downhole). The true width of this zone is estimated to be approximately 11 metres.
Sonic holes SN10 and SN12 are located on the same section near the southend of the pit. Both holes intersected the Eldorado zone returning ahigher grade than previously reported by nearby RC holes.
Sonic holes SN7, SN8 and SN9 are located approximately 100 metresoutside of the Taunus pit and aimed at evaluating the gold grade of thenear-surface Eldorado zone. These holes intersected higher-grade goldthan nearby RC holes. Sonic hole SN8 intersected three gold-bearingzones, the deeper zone of 2.4 grams per tonne gold over 13.6 metres(from 125 to 138.6 metres downhole) is significant being located outsideof the resource pit shell.
(1) Minimum composite length of five metres over 0.2 gram per tonnegold, may include up to three metres less than 0.2 gram per tonne gold.
Total metreage completed to date this year is approximately 1,365 metresin 10 sonic holes. Technical delays and slower drilling have beenencountered with the sonic technique when drilling below 100-metredepths. It is important to acknowledge that the sonic drilling wasimplemented by Oro Mining as an innovative tool to complete the resourceexploration drilling to overcome the technical challenges experiencedat Taunus this past year, and will continue to require more time toestablish procedures and protocol, currently under review by anindependent qualified person.
The objectives of the sonic drill program are to increase the Taunusresource base by:
- Increasing the gold grade of the Eldorado and HS zones;
- Drilling untested areas below the Eldorado zone targeting potential high-grade gold feeders, as well as offsets and extensions to the zones.
The company is planning to complete another resource estimate for theTaunus gold deposit following the completion of the current sonic drillprogram.
Y. (Gary) Wong, PEng, is a qualified person as defined by NationalInstrument 43-101 and has reviewed the content of this press release.
We seek Safe Harbor.