TIDMOSU
As Part of Ongoing Definitive Feasibility Study, Orsu Has Received All Assay Results for Its 2010 Infill Drilling Programme in the North East Lode at Its Karchiga Deposit in Kazakhstan
FOR: ORSU METALS CORPORATION
TSX, AIM SYMBOL: OSU
February 10, 2011
As Part of Ongoing Definitive Feasibility Study, Orsu Has Received All Assay Results for Its 2010 Infill
Drilling Programme in the North East Lode at Its Karchiga Deposit in Kazakhstan
The drill results demonstrate that the copper sulphide mineralisation in the North East constitutes a single
lode. The best intercepts include:
- 8.6m grading 4.99% Cu, 0.39 g/t Au (Hole KGDD10-143);
- 4.05m grading 5.43% Cu, 0.91 g/t Au and
- 6.5m grading 1.05% Cu, 0.27 g/t Au (Hole KGDD10-139);
- 8.5m grading 3.28% Cu, 0.22 g/t Au (Hole KGDD10-123);
- 15.7m grading 2.55% Cu, 0.61 g/t Au (Hole KGDD10-126);
- 5.3m grading 2.55% Cu, 0.24 g/t Au and
- 3.5m grading 2.34% Cu, 0.22 g/t Au (Hole KGDD10-129);
- 5.55m grading 2.45% Cu, 0.21 g/t Au (Hole KGDD10-130);
- 13.2m grading 2.10% Cu, 0.60 g/t Au (Hole KGDD10-127).
LONDON, UNITED KINGDOM--(Marketwire - Feb. 10, 2011) - Orsu Metals Corporation ("Orsu" or the "Company")
(TSX:OSU)(AIM:OSU), the London-based precious and base metals exploration and development company, is pleased
to announce that the Company has received all final assay results for the 2010 infill drilling programme in the
North East lode at its Karchiga volcanogenic massive sulphide copper deposit in northeast Kazakhstan (the
"Karchiga Deposit").
The Karchiga Deposit consists of the Central and North East lodes. The most recent NI 43-101 compliant mineral
resource estimates for the Karchiga Deposit were announced by the Company on March 22, 2010, contained in the
technical report entitled "Updated Report on the Karchiga Property held by Orsu Metals Corporation,
Kazakhstan", dated March 22, 2010 (Table 1).
Table 1. Mineral resource statement for the mineral zones in the Central and North East lodes of the Karchiga
deposit, March 22, 2010 (at 0.3% Cu cutoff).
/T/
=---------------------------------------------------------------------------
Cu Cu Cu
Tonnage Grade Metal Metal
Lode Ore Type Zone Category (t) (%) (t) (Mlb)
=---------------------------------------------------------------------------
Central Oxide 101-104 Indicated 1,085,806 1.25 13,545 29.89
=---------------------------------------------------------------------------
Central Sulphide 201-206 Indicated 5,275,977 1.89 100,064 220.84
=---------------------------------------------------------------------------
North East Sulphide 303 Indicated 2,770,403 1.98 54,894 121.15
=---------------------------------------------------------------------------
North East Sulphide 402 Inferred 1,506,902 1.26 18,918 41.75
=---------------------------------------------------------------------------
North East Sulphide 404 Inferred 319,623 3.24 10,342 22.82
=---------------------------------------------------------------------------
(i)All Inferred resources are quoted completely exclusive of the Indicated
resources. Mineral resources are reported without mining constraints other
than the cut-off grade. No pit shell, mine design, or minimum mining width
has been used to restrict the reported mineral resources
/T/
The Central lode, which had been drilled out prior to 2010, has a total mineral resource which is classified as
indicated. Prior to the Company's 2010 infill drilling programme, the North East lode showed an absence of
oxide material and was interpreted as consisting of three separate ore zones; one of these zones had been
classified as indicated and the other two as inferred.
The Scoping Study for the Karchiga project released in May 2010 is based upon both indicated and inferred
mineral resources for pit optimisation. However, as the project progressed, and with the preparation of the
Definitive Feasibility Study, it was necessary to carry out additional infill drilling for the purposes of
updating the inferred mineral resources in the North East lode to indicated mineral resources for the purposes
of full open pit design. The 2010 infill drilling program, which consisted of 40 diamond drill holes (3,876 m),
was therefore focussed on up-grading the inferred mineral resources of the North East lode to the indicated
category.
The 2010 mineral resource estimate showed that the mineralisation in the North East lode was located within
three shallow-dipping zones of massive and disseminated sulphide bodies (Fig. 1). The latest 2010 drilling,
however, demonstrates that there is continuity between these lenses and in fact they form a single lode with a
strike length of approximately 1.0km. Resource modeling incorporating the new data is currently in progress and
it is anticipated that, apart from updating and improving the mineral resource category of the inferred mineral
resources in the North East lode to the indicated category, there is a possibility that the overall mineral
resource tonnage will also be increased.
Figure 1. Location of the 2010 infill drillholes relative to the mineral zones in the Central and North East
lodes at the Karchiga deposit. The projection of the Central and North East lodes to surface is shown according
to the March 22, 2010 mineral resource statement (Table 1).
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/KarchigaUpdateFeb1011l.pdf
Table 2 shows average copper and gold grades for significant intercepts in the North East lode from the 2010
drilling programme.
Table 2. Summary of significant intercepts of the sulphide ore in the North East lode, showing average copper
and gold grades per intercept at 0.3% Cu cutoff.
/T/
=---------------------------------------------------------------------------
Drilled
Hole ID From To width, m Cu, % Au, g/t
=---------------------------------------------------------------------------
KGDD10-118 70.8 71.7 0.9 5.95 0.42
=---------------------------------------------------------------------------
and 74.0 76.0 2.8 0.38 0.10
=---------------------------------------------------------------------------
and 81.0 84.0 3.0 0.76 0.09
=---------------------------------------------------------------------------
and 89.2 89.6 0.4 8.48 0.96
=---------------------------------------------------------------------------
KGDD10-119 48.0 56.3 7.6 1.40 0.16
=---------------------------------------------------------------------------
KGDD10-120 89.7 95.6 5.9 2.06 0.14
=---------------------------------------------------------------------------
KGDD10-121 11.5 33.2 15.4 0.35 0.03
=---------------------------------------------------------------------------
KGDD10-122 104.80 106.4 1.6 3.79 0.61
=---------------------------------------------------------------------------
KGDD10-123 79.1 90.9 8.5 3.28 0.22
=---------------------------------------------------------------------------
and 96.8 97.9 1.1 6.83 0.57
=---------------------------------------------------------------------------
KGDD10-124 61.0 64.2 3.2 0.93 0.09
=---------------------------------------------------------------------------
and 66.8 67.8 1.0 0.67 0.06
=---------------------------------------------------------------------------
KGDD10-125 102.2 103.0 0.8 0.82 0.06
=---------------------------------------------------------------------------
and 107.0 109.2 2.2 1.46 0.07
=---------------------------------------------------------------------------
KGDD10-126 5.3 21.2 15.7 2.55 0.61
=---------------------------------------------------------------------------
KGDD10-127 5.6 18.8 13.2 2.10 0.60
=---------------------------------------------------------------------------
KGDD10-129 84.2 88.8 5.3 2.55 0.24
=---------------------------------------------------------------------------
and 94.5 98.0 3.5 2.34 0.22
=---------------------------------------------------------------------------
KGDD10-130 94.45 100.0 5.55 2.45 0.21
=---------------------------------------------------------------------------
KGDD10-131 31.0 32.0 1.0 0.39 0.1
=---------------------------------------------------------------------------
and 34.62 38.7 4.08 0.35 0.14
=---------------------------------------------------------------------------
KGDD10-132 81.0 82.0 1.0 0.98 0.43
=---------------------------------------------------------------------------
and 87.0 89.0 2.0 0.74 0.07
=---------------------------------------------------------------------------
and 98.0 100.0 2.0 0.46 0.10
=---------------------------------------------------------------------------
KGDD10-133 115.9 116.9 1.0 2.66 0.35
=---------------------------------------------------------------------------
and 119.0 120.05 1.05 3.78 0.43
=---------------------------------------------------------------------------
and 124.2 124.7 0.5 6.18 0.96
=---------------------------------------------------------------------------
KGDD10-135 70.1 72.1 2.0 0.47 0.09
=---------------------------------------------------------------------------
and 74.7 77.7 3.0 2.42 0.24
=---------------------------------------------------------------------------
KGDD10-136 61.9 66.8 4.9 2.34 0.25
=---------------------------------------------------------------------------
and 83.9 84.8 0.9 1.59 0.27
=---------------------------------------------------------------------------
KGDD10-137 84.25 88.25 4.0 2.35 0.18
=---------------------------------------------------------------------------
KGDD10-138 76.25 79.15 2.9 0.79 0.08
=---------------------------------------------------------------------------
KGDD10-139 44.85 48.9 4.05 5.43 0.91
=---------------------------------------------------------------------------
and 61.13 67.63 6.5 1.05 0.27
=---------------------------------------------------------------------------
KGDD10-140 80.8 86.46 5.66 1.80 0.18
=---------------------------------------------------------------------------
and 89.4 91.3 1.9 3.8 0.74
=---------------------------------------------------------------------------
KGDD10-143 75.46 76.64 1.18 7.59 0.46
=---------------------------------------------------------------------------
and 80.9 89.5 8.6 4.99 0.39
=---------------------------------------------------------------------------
KGDD10-144 107.82 109.5 1.68 4.19 0.18
=---------------------------------------------------------------------------
KGDD10-145 90.6 93.7 3.1 1.44 0.18
=---------------------------------------------------------------------------
and 99.7 101.4 1.7 1.67 0.29
=---------------------------------------------------------------------------
KGDD10-147 59.3 61.5 2.2 0.60 1.24
=---------------------------------------------------------------------------
KGDD10-150 88.9 94.7 5.8 0.99 0.14
=---------------------------------------------------------------------------
and 97.6 98.1 0.5 6.41 1.2
=---------------------------------------------------------------------------
KGDD10-151 102.0 103.9 1.9 3.43 0.14
=---------------------------------------------------------------------------
SRK-GT10-8 8.3 14.8 6.5 2.44 0.18
=---------------------------------------------------------------------------
# Estimated true widths vary from 70% to 100% of drilled width
/T/
Eight hundred and twenty samples, including 68 standards and 34 duplicates, were prepared from the intervals
hosting massive and disseminated sulphide mineralisation. All samples were submitted and assayed in the
VNIITsvetMet laboratory in Ust-Kamenogorsk, Kazakhstan. The laboratory is part of VNIITsvetMet, a Kazakh
Institute, which specialises in metallurgical studies for base metals and is independent of Orsu.
All sampling procedures and drill core logging were reviewed by a competent person from Orsu (under guidelines
set out in NI43-101) ensuring samples are taken and results from the laboratory are checked in line with NI43-
101 guidelines. A stringent QA/QC programme has been put in place to satisfy NI43-101 and JORC requirements.
Core samples have been collected continuously from the visually identifiable intervals mineralised with massive
and/or disseminated sulphides, including at least 5 m of host rock above and below such intervals. Blank
samples have been inserted every 9th to 19th sample depending of the sampled width, but before standards.
Standards have been inserted, on average, every 10th and 11th or 19th and 20th sample within the sample number
sequence for the drill core. Assay duplicate samples were selected from quarter core on a random basis from
both mineralised and unmineralised intervals, and usually inserted after the standards.
The assays for the intervals shown in Table 2 reveal consistent presence of high copper grade in the North East
lode. The March 22, 2010 resource model (Table 1), which was based on the 2007 and 2008 drilling results by
Orsu as well as historical results, estimated 1.98% Cu (0.3% Cu cutoff) as the average grade for the indicated
category in the North East lode, whereas the average grade of 1.26% Cu (Zone 402) and 3.24% Cu (Zone 404) were
estimated in the two inferred category zones in the North East lode (Table 1). The new assays also demonstrate
consistent presence of elevated gold grades in all mineralised copper intervals. However, the Company has no
evidence at this time whether gold can be economically recovered from the North East lode.
COO and Director of Exploration of ORSU, Dr Alexander Yakubchuk commented:
"We are pleased to receive such excellent results from our 2010 infill drilling programme. Modelling of the
data received is currently underway and we expect to have an updated and upgraded NI 43-101 compliant mineral
resource estimate completed in Q1 2011. We also expect to receive the results of the ongoing comprehensive
metallurgical study in Q1 2011. These studies will firm a solid basis for the ongoing work program to deliver
the Definitive Feasibility Study for Karchiga by Q4 2011".
Notes to editor:
/T/
1. The technical report related to the Scoping Study referred to in this
press release entitled "Preliminary Assessment of The Karchiga Copper
Project, East Kazakhstan Region, Kazakhstan", dated May 25, 2010 and
prepared by L S Carroll, MIMMM CGeol FGS, G Harris, MAusIMM, I L Owen,
CGeol EurGeol FGS, J Steedman, MAusIMM and D O Wells, MIMMM CEng of
Micon International Co. Limited is available under the Company's profile
on SEDAR (www.sedar.com).
2. The indicated and inferred mineral resource estimates (March 22, 2010)
referred to in this press release are contained in the technical report
entitled "Updated Report on the Karchiga Property held by Orsu Metals
Corporation, Kazakhstan", dated March 22, 2010 and prepared by I L Owen
and L S Carroll of Wardell Armstrong International Limited, which is
available under the Company's profile on SEDAR (www.sedar.com).
3. Alexander Yakubchuk, PhD, Director of Exploration and Chief Operating
Officer for Orsu and a "qualified person" as such term is defined in
National Instrument 43-101 and for the purposes of the AIM Guidance Note
for Mining, Oil & Gas Companies, has prepared and reviewed the contents
of this press release and has verified the data disclosed in this press
release (including sampling, analytical and test data underlying the
information), other than with respect to the mineral resource estimates
noted above.
/T/
FORWARD-LOOKING INFORMATION
This press release contains forward-looking information which is not comprised of historical facts. Forward-
looking information involves risks, uncertainties and other factors that could cause actual events, results,
performance and opportunities to differ materially from those expressed or implied by such forward-looking
information. Forward-looking information contained (or referred to) in this press release includes, but may not
be limited to: statements relating to mineral resource estimates; the Company's expectations with respect to
updating and upgrading current mineral resource estimates and the possible increase in tonnage; the timing for
the completion of an updated NI 43-101 compliant resource estimate; and the timing of the Company's receipt of
results from the ongoing comprehensive metallurgical study.
Factors that could cause actual results to differ materially from those described in such forward-looking
information include, but are not limited to, risks normally incidental to exploration and development of
mineral properties, uncertainties in the interpretation of drill and test results, the possibility that future
exploration, development and/or mining results will not be consistent with expectations (including the
possibility that gold may not be able to be economically recoverable from the North East lode), uncertainty of
mineral resources estimates, the Company's inability to obtain, maintain, renew and/or extend required
licences, permits, authorizations and/or approvals from the appropriate regulatory authorities and other risks
relating to the regulatory framework in Kazakhstan, adverse changes in the political environment in Kazakhstan
and the laws governing the Company, its subsidiaries and their respective business activities, adverse changes
in commodities prices, as well as certain other risks set out in the Company's public documents, including its
annual information form dated March 24, 2010, filed under the Company's profile on SEDAR at www.sedar.com.
The forward-looking information in this press release reflects the current expectations, assumptions and/or
beliefs of the Company based on information currently available to the Company. In connection with the forward-
looking information contained in this press release, the Company has made assumptions about: the Company's
business, the economy and the mineral exploration industry in general; the Company's ability to raise any
required additional financing, as needed; the regulatory framework in Kazakhstan with respect to, among other
things, the Company's ability to obtain, maintain, renew and/or extend required permits, licences,
authorizations and/or approvals from the appropriate regulatory authorities; the political environment in
Kazakhstan; and the Company's ability to continue to obtain qualified staff and equipment in a timely and cost-
efficient manner to meet the Company's demand. The Company has also assumed that no unusual geological or
technical problems occur, plant and equipment work as anticipated and no significant events occur outside of
the Company's normal course of business. Although the Company believes that the assumptions inherent in the
forward-looking information are reasonable, forward-looking information is not a guarantee of future
performance and accordingly undue reliance should not be put on such information due to the inherent
uncertainty therein.
The mineral resource figures contained and/or referred to in this press release are estimates only and no
assurances can be given that the indicated levels of minerals will be produced. Such estimates are expressions
of judgment based on knowledge, mining experience, analysis of drilling results and industry practices. Valid
estimates made at a given time may significantly change when new information becomes available. While the
Company believes that the mineral resource estimates contained and referenced herein are well established, by
their nature, mineral resource estimates are imprecise and depend, to a certain extent, upon statistical
inferences which may ultimately prove unreliable. If such mineral resource estimates are inaccurate or are
reduced in the future, this could have a material adverse impact on the Company. Due to the uncertainty that
may be attached to inferred mineral resources, it cannot be assumed that all or any part of an inferred mineral
resource will be upgraded to an indicated or measured mineral resource as a result of continued exploration.
Inferred mineral resources are estimated on limited information not sufficient to verify geological and grade
continuity or to allow technical and economic parameters to be applied. Inferred mineral resources are too
speculative geologically to have economic considerations applied to them to enable them to be categorized as
mineral reserves. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
There is no certainty that mineral resources can be upgraded to mineral reserves through continued exploration.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required
by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking
information, whether as a result of new information, future events or results or otherwise.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Orsu Metals Corporation
Alexander Yakubchuk
COO
+44 (0) 20 7518 3999
www.orsumetals.com
OR
Canaccord Genuity Limited
Ryan Gaffney / Andrew Chubb
+44 (0) 20 7050 6500
OR
Vanguard Shareholder Solutions
+1 604 608 0824
Orsu Metals Corporation
Orsu Metals (LSE:OSU)
Historical Stock Chart
From Jun 2024 to Jul 2024
Orsu Metals (LSE:OSU)
Historical Stock Chart
From Jul 2023 to Jul 2024
