AGM Statement
September 30 2005 - 3:01AM
UK Regulatory
RNS Number:9914R
Ovoca Resources PLC
29 September 2005
Ovoca Gold plc ('Ovoca' or the 'Company')
Chairman's Statement to AGM and Drilling Results
At the AGM of Ovoca Gold plc today in Jurys Hotel, Dublin, the Chairman, Roger
Turner outlined the company's rational for the investment in Russia earlier this
year. He explained that the licence in the Kola peninsula which hosts eight
exciting prospects, including gold deposits at Oleninskoye, Nyalm and Leshaya
where we are working to expand on the 900,000 ounces (Russian categorised)
already reported. Recent results on five holes have supported the previous
finds with assays of up to 8 grammes per tonne on the intersection of No. 3 vein
in Oleninskoye. To date we have drilled 71 holes in the area and results during
the year have included a drill intersection of over 200 grammes per tonne in the
recently discovered South Leshaya prospect. Drilling is ongoing and a full
analysis of the results will be carried out during the winter months. On the
basis of the results to date we have applied for additional licences around the
existing 152 square kilometre area which will include additional gold
occurrences and highly prospective ground for gold and platinum group metals .
He also confirmed that the company has been offered several other Russian
projects, but declined to outline any of them at this early stage.
In Sweden, fieldwork is commencing on the gold and zinc prospects previously
outlined by Ovoca as having potential on the Gold Line where Dragon Mining has
recently put the Svartliden mine into production.
He welcomed Danesh Varma, CFO, as an appointee to the Board.
Roger Turner informed the shareholders that this was a time of positive change
for Ovoca and as part of this Ovoca was changing it's name to Ovoca Gold plc to
reflect the main focus of its activities. He was looking forward to having a
leading role in this rejuvenation of Ovoca Gold and repeat his previous success
at Oxus Gold.
29 September 2005.
Below are updated drilling results to 27 September 2005 in relation to the
Company's exploration in Kola, Russia.
Kolmozero-Voronya Project Drill & Trench Results to date - 27
September 2005
Total metrs drilled 6,584 27 Sept.
to date 2005
Deposit Drill Hole Trench Metres Depth Intersect Gold Silver
From To Metres Grade g/t Grade g/t
S Leshaya BF-041-48 86.8 88.5 1.7 80.3
BF-043-18 55.1 56.7 1.6 26.5
BF-044-02 5.0 7.0 2.0 211.0
Oleninskoye 3 BF-027-24 150.4 150.9 0.5 4.20
BF-027-38 216.2 217.9 1.7 4.97
BF-028-22 109.40 111.20 1.8 51.60 28.00
BF-028-21+22 108.4 112.2 2.8 83.81 37.68
Including BF-028-21 108.40 109.40 1.0 141.80 55.10
BF-028-51&52 179.20 180.10 0.9 3.23 0.47
BF-037-163 218.50 219.60 1.1 7.62
BF-039-45 69.90 71.90 2.0 8.30 0.31
BF-040-84 163.00 165.00 2.0 5.20 0.44
BF-045-33 123.2 124.7 1.5 88.6
BF-046-23 199.6 200.6 1.0 0.87
New BF-046-41 221.2 222.2 1.0 6.52
BF-046-50 230.2 231.7 1.5 0.99
BF-048-16 89.8 91.3 1.5 29.6
BF-048-22 98.8 100.3 1.5 1.97
BF-048-52 144.8 146 1.2 1.06
New BF-052-6 171.1 172.1 1.0 1.08
New BF-052-37 226.6 227.6 1.0 1.19
New BF-052-43 232.6 233.6 1.0 8.66
New BF-052-48 237.8 239.3 1.5 1.58
k-13-C-023 22.5 23.5 1.0 2.2 4.5
k-13-C-028 27.5 28.6 1.1 8.6 6.2
k-13-C-030 29.8 31.0 1.2 24.0 6.0
k-15-C-10368 8.0 10.0 2.0 12.0 0.5
New BF-K-500-3 3.0 4.5 1.5 1.24
New BF-K-511-5 6.0 7.0 1.0 1.23
New BF-K-511-6 7.0 8.0 1.0 1.48
New BF-K-513-8 10.0 11.5 1.5 8.38
New BF-K-513-15 18.0 19.0 1.0 4.76
New BF-K-5036-12 15.0 16.0 1.0 1.33
New BF-K-5036-19 22.0 23.0 1.0 9.35
New BF-K-15-C-4 4.5 5.5 1.0 0.97
New BF-K-15-C-10 11.0 12.0 1.0 1.14
Oleninskoye 7 BF-029-52 120.60 121.80 1.20 2.90 1.44
BF-031-16 64.45 65.10 0.65 5.25 3.90
k-BF027-12 12.0 13.0 1.0 50.2 9.92
k-BF028A-020 21.6 22.1 0.5 1.2
k-BF028A-024 25.2 26.0 0.8 1.2 28.0
k-BF-025A-2 3.1 4.1 1.0 1.22
k-BF-077-6 15.7 17.2 1.5 0.76
Oleninskoye (Northern k-BF056-073 86.7 87.2 0.5 1.19 2.32
subzone)
Connexions PR
Ph + 353 (0) 86 245 4215
This information is provided by RNS
The company news service from the London Stock Exchange
END
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