Orogen Gold PLC Diamond Drilling re-commences in Armenia (2987C)
October 15 2015 - 2:00AM
UK Regulatory
TIDMORE
RNS Number : 2987C
Orogen Gold PLC
15 October 2015
15 October 2015
Orogen Gold plc
("Orogen" or the "Company")
Diamond drilling re-commences at the Mutsk gold project in
Armenia
Orogen Gold plc (AIM:ORE), the AIM quoted gold exploration
company, announces the mobilisation of a drill rig to re-commence
diamond drilling at the Mutsk gold project in Armenia.
Highlights
-- In-company review identifies Mutsk as an attractive gold target
-- Seasonally constrained drill programme put in place to continue assessment
-- Programme designed to establish continuity and presence of gold in adjacent discovery areas
Colin Bird said: "During my initial review of the Orogen
portfolio, Mutsk stood out as a project with enormous potential.
With the limited time left for drilling this season, we have
elected to test drill a number of locations in order to confirm and
firm up our thoughts for next year. The Mutsk project to me
represents an attractive gold environment with the possibilities of
much value add for shareholder benefit."
Approval
Ed Slowey, Operations Director of Orogen, is a Competent Person
as defined by various international instruments and takes
responsibility for the release of this information.
Enquires:
Orogen Gold plc
Colin Bird, CEO +353 1662
Alan Mooney, FD 8395
Cairn Financial Advisers LLP (Nominated
Adviser) +44 (0) 20
Avi Robinson/ Liam Murray 7148 7900
Beaufort Securities Limited (Broker) +44 (0) 20
Jon Belliss 7382 8300
Walbrook (Public Relations and Investor
Relations)
Paul Cornelius / Guy McDougall / +44 (0) 20
Gary Middleton 7933 8780
About Orogen Gold
Orogen Gold plc is a UK public company quoted on the London
Stock Exchange AIM market (ticker: ORE). The Company is focused on
mineral exploration and development in Europe and is currently
operating two gold exploration projects: a) at Mutsk in Armenia and
b) at Deli Jovan in Serbia. The Mutsk gold project in Armenia was
optioned by Orogen early in 2013 to follow-up reports of a new
epithermal discovery within an established gold district. At Deli
Jovan the historic high-grade gold mining camp was last in
production prior to World War II and has been significantly
under-explored in modern times. The Mutsk project has been
prioritised by the Company due to the clear potential evident on
the property.
About the Mutsk Project
The Mutsk Project is located in southern Armenia at about 2,000m
elevation and is three hours' drive from the capital Yerevan. The
site is accessible most of the year other than during the core
winter months. Maps showing the location and details of the project
are available on the Company's website.
Low sulphidation epithermal-type pyrite-gold mineralisation was
discovered by limited drilling in altered and brecciated tuffs,
similar in age to those that host the Lydian International high
sulphidation Amulsar gold deposit (4.1 million ounces in Measured,
Indicated and Inferred Resources) located 30km to the northwest,
also in Armenia. Drilling by Orogen in 2014 intersected wide zones
of medium to low-grade gold mineralization within a large
alteration system.
Orogen has an exclusive agreement with Georaid CJSC to earn an
80% interest in the property by spending a total of US$2.5m by the
end of August 2016.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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