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Orogen Gold Plc
Summary
| Project: | Mutsk | |
|---|---|---|
| Deposit: | Mutsk | |
| Location: | Armenia | |
| Commodities: | Gold | |
| Date: | 11/29/2016 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 29-11-2016: Orogen Gold Plc announces an Exploration/Drilling Update report for its Mutsk deposit at the Mutsk project. Drilling results incl. 3.6m @ 1.35g/t Au from 67.0m. Orogen Gold plc (AIM: ORE), the AIM quoted gold exploration company, is pleased to | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Ed Slowey (Internal) | |
| ABSTRACT: | Orogen Gold plc (AIM: ORE), the AIM quoted gold exploration company, is pleased to announce an update to the step-out drilling programme at the Mutsk gold project in southern Armenia previously announced on 8 November 2016. The step-out programme has already confirmed that gold mineralisation extends for over one kilometre with scope for further expansion. Colin Bird, Chief Executive of Orogen, commented: "We decided to drill the four holes north and south because of the excellent results we received from the earlier programme reported on 6 September 2016. Alteration was intercepted in all four holes north and south, with assay results from the first two giving very positive results and we eagerly await the assay results for the remaining two holes. Mutsk drilling this season has demonstrated that it is a deposit of size and remains open ended to the north, south and east. We are extremely encouraged by our results and we will develop and refine our model during the seasonally closed period. In the next drilling season we will aim to further extend the deposit boundaries and thereafter move to infill drilling to develop a resource which will put a value on Mutsk. We expect that 2017 will be a very busy and productive year." The Company has now completed all four step-out diamond drill holes to assess the potential strike extent of the Mutsk gold deposit. All holes were drilled at 50 degrees towards the east. Assay results have so far been received for two of the holes. Results for the first hole, OG16-57, were reported on 8 November 2016 which extended the strike of the known gold zone by 160m to the south of the previous drilling. The following hole OG16-58 was collared a further 340m south again from OG16-57 (i.e. 500m south from the Main Gold Zone which has been drilled in some detail). | |
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