Drilling Report
December 14 2004 - 2:01AM
UK Regulatory
Medoro Resources Announces Monte Ollasteddu Drilling Results
TORONTO, Dec. 14 /CNW/ - Medoro Resources Ltd. (TSX-V/AIM: MRL) announced
today initial drilling results from the first phase of diamond and reverse
circulation ("RC") drilling at the Monte Ollasteddu prospect in eastern
Sardinia, Italy. The prospect is a joint venture with Gold Fields Limited,
where Gold Fields Limited can earn up to 60% of the project by completing a
bankable feasibility study.
A total of twelve diamond drill holes totalling 1,711 metres and
303 metres of RC drilling were completed on the western half of the four
kilometre long mineralised zone. The diamond drill holes were spaced on
sections 100-400 metres apart with drill centres at 50-80 metres apart on each
section. A total of six RC holes were drilled to twin selected diamond drill
holes in order to assess sampling methodology for coarse gold.
Drilling intersected broad zones of disseminated and vein style sulphide
and silica alteration within the host meta-rhyolite rocks. The gold
mineralisation is contained within these structural zones which strike
northeast-southwest and east-west with dips from 50 degrees - 90 degrees to
the north. Drill holes were inclined at 50 degrees - 60 degrees to the south
and south-east.
Best results include 25 metres in OLD 9 at 1.7 g/t gold including a
5 metre interval grading 5.5 g/t gold, 20 metres in OLD 6 at 1.3 g/t gold and
1 metre at 9.9 g/t gold and, 17 metres in OLD10 at 1.9 g/t gold.
The results indicate potential for both narrow higher grade veins and
broader intervals of lower grade gold zones hosted within multiple parallel
structures. Based on these results, Gold Fields Limited intends to conduct a
follow-up program of ground-based geophysics in order to identify potential
drill targets.
Significant intervals from diamond drill holes numbered OLD1 through
OLD12 and RC drill holes, OLR1 to OLR6 are summarized below.
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Hole No. From (m) To (m) Int. (m) Au (g/t)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
OLD1 21 22 1 1.1
-------------------------------------------------------------------------
OLD2 3 6 3 1.2
and 31 34 3 1.1
and 38 41 3 1.3
and 100 101 1 1.1
-------------------------------------------------------------------------
OLD3 3 6 3 1.2
and 31 34 3 1.0
and 38 41 3 1.3
and 100 101 1 1.1
-------------------------------------------------------------------------
OLD4 1 3 2 1.1
and 12 21 9 1.1
and 27 29 2 1.0
-------------------------------------------------------------------------
OLD5 17 19 2 1.4
and 27 28 1 3.3
and 53 54 1 1.9
-------------------------------------------------------------------------
OLD6 0 20 20 1.3
and 31 33 2 3.9
and 74 75 1 4.0
and 98 99 1 2.3
and 170 174 4 3.0
and 200 201 1 9.9
-------------------------------------------------------------------------
OLD7 21 22 1 1.2
and 62 65 3 3.7
-------------------------------------------------------------------------
OLD8 15 20 5 1.6
-------------------------------------------------------------------------
OLD9 0 25 25 1.7
including 20 25 5 5.5
and 53 54 1 1.8
and 102 104 2 1.8
and 168 169 1 1.5
-------------------------------------------------------------------------
OLD10 28 29 1 2.9
and 38 40 2 1.2
and 66 67 1 1.9
and 78 79 1 1.9
and 84 85 1 1.2
and 95 112 17 1.9
and 120 121 1 2.4
and 124 125 1 2.2
and 138 140 2 1.3
-------------------------------------------------------------------------
OLD11 3 4 1 1.7
and 86 87 1 1.1
-------------------------------------------------------------------------
OLD12 58 60 2 1.7
-------------------------------------------------------------------------
OLR1 4 8 4 1.2
-------------------------------------------------------------------------
OLR2 10 28 18 0.8
-------------------------------------------------------------------------
OLR3 5 34 29 0.6
-------------------------------------------------------------------------
OLR5 7 17 10 1.1
-------------------------------------------------------------------------
OLR6 22 23 1 1.4
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Lengths approximate true width.
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-------------------------------------------------------------------------
Medoro Resources submitted half drill core (HQ and NGM-N size) to
Lakefield Laboratories in South Africa for sample preparation and gold
analysis by fire assay. A comprehensive quality control and quality assurance
program ("QA/QC") which includes blanks, replicates, standards and duplicates
was employed. This QA/QC program included the use of certified standard
reference samples from Geostats Pty Ltd. of Australia. Jeffrey Rayner, Bsc.
Hons. Geology, is the Qualified Person for this program.
Medoro Resources is a gold exploration and development company focused on
gold opportunities in Sardinia and elsewhere in Europe.
For further information: Peter Volk, (416) 603-4653,
info(at)medororesources.com
(MRL)
CO: Medoro Resources Ltd.
ST: Ontario
IN: PCS MAC
SU: DSC
-30-
END
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