Drilling Report
November 10 2005 - 6:03AM
UK Regulatory
Ovoca Resources plc
Ovoca Gold plc ('Ovoca' or the 'Company')
Ovoca Changes Name to Ovoca Gold and
Acquires Additional Licenses on the Kolmozero-Voronya Greenstone Belt
-- Ovoca the AIM (OVG.L)and IEX (OVX.IR) traded precious metals developer with
assets in Russia, Sweden and Ireland, announces that it has, following
shareholder approval at its AGM on the 29 September 2005 changed its name to
Ovoca Gold Plc.
-- In addition the company has acquired additional licenses for precious and
base metals adjacent to and to the south-west of its current
Kolmozero-Voronya license within the highly prospective Kolmozero-Voronya
Greenstone Belt in the Kola Peninsula in Russia.
-- Latest drilling and trenching results from the 2005 exploration programme in
the Kolmozero-Voronya License and the Åkerland zinc property in Sweden are
reported.
At the Annual General Meeting of the 29 September 2005, shareholders approved
the change of name to Ovoca Gold Plc. The Company believes that the new name
more accurately reflects the Company's focus on the acquisition and development
of precious metal deposits. The new name will take effect upon completion of
registration the name change at the Irish Companies Registration Office.
Black Fox Resources, a Russian owned subsidiary of Norplat Limited which is 78%
owned by Ovoca Gold Plc has been awarded two new exploration licenses in the
highly prospective Kolmozero-Voronya Greenstone Belt of the Kola Peninsula.
These licenses include an extension to the south and east of the current
Kolmozero Voronya License (Kolmozero-Voronya) and an additional area further to
the east encompassing the Kontozero Caldera. The licenses, including the
existing license, encompass a total area of 421 square kilometres.
License Number Area sq. km. Validity to
-------------------------------------------------------------------------
Kolmozero-Voronya MYP11629 152 8 July 2008
-------------------------------------------------------------------------
Kolmozero-Voronya SW MYP00717 117 15 Nov. 2010New
-------------------------------------------------------------------------
Kontozero MYP00716 152 15 Nov. 2010New
-------------------------------------------------------------------------
Total 421
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The Kolmozero-Voronya Greenstone Belt is very similar in geology to the many of
the Archean gold producing greenstone belts associated with the Abitibi Gold
Belt of Canada, within which lies the Kirkland Lake deposit (24 million ounces)
Sigma-Lamak (9.8 million ounces) and many other mines producing a total of over
38 million ounces (per annum). Within the pre-existing license there are eight
gold deposits which have been defined by drilling and trenching. There is
evidence of continuity along strike between these gold and platinum bearing
structures over a distance of 20 kilometres. The extension to the south and east
of the current license results in the inclusion of additional gold and platinum
mineralised prospects including Verhkny Nyalm and protects the extension of the
deposits which were close to the previous license boundary.
All prospective ground between the north-eastern and south-eastern flanks of the
greenstone belt is now covered by Black Fox exploration licenses. The Kontozero
license is situated to the east of the two former licenses and encloses a large
collapsed caldera with an associated extensive high grade gold geochemical
anomaly. Analogy to economic mineralised structures in other parts of the world
include Cripple Creek, Colorado, USA, which has produced over 22 million ounces
since 1891.
The following table includes the latest assay results, as indicated. In the
definition drilling and trenching of the Oleninskoye deposit the results have
not been as dramatically high as in earlier drilling. The 2005 programme was
directed towards defining the limits of the ore bodies prior to more detailed
drilling and trenching to develop a western classified resource. In this respect
a number of drill holes and trenches would have fallen outside the ore boundary.
There still remains assay results to be received which will be reported when
received and reviewed. The 2005 exploration fieldwork programme is now complete
and all results are currently being reviewed. The results and conclusion of the
exploration programme will be reported later this year.
Kolmozero-Voronya Project Drill & Trench Results to date 10 Nov.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-048-52 144.8 146.0 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
New BF-053-8 196.2 197.1 0.9 3.24
New BF-053-13 246.7 248.2 1.5 0.86
New BF-054-3 47.0 49.0 2.0 1.07
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-503á-12 15.0 16.0 1.0 1.33
New BF-K-503á-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-1 11.0 12.0 1.0 1.14
New BF-064-3 22.0 24.0 2.0 0.71
New BF-K-508-1 0.0 1.0 1.0 1.17
New BF-K-508-2 1.0 2.0 1.0 3.1
New BF-K-508-3 2.0 3.2 1.2 6.8
New BF-K-508-4 3.2 4.4 1.2 13.6
New BF-K-508-5 0.0 0.9 0.9 0.18
New BF-K-508-6 0.9 2.2 1.3 1.08
New BF-K-508-7 2.2 3.2 1.0 1.96
New BF-K-508-8 3.2 4.1 0.9 0.51
----------------------------------------------------------------------------------------------------
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
New BF-060-10 85.0 86.5 1.5 1.47
New BF-060-17 95.0 96.2 1.2 4.17
New BF-060-18 96.2 97.2 1.0 1.18
----------------------------------------------------------------------------------------------------
Oleninskoye k-BF056-073 86.7 87.2 0.5 1.19 2.32
(North Zone) New BF-1309-1-A 11.0 11.5 0.5 2.72
Ovoca is also pleased to announce the following recent assay results of vein
samples collected from the high grade sphalerite calcite zinc deposit at Ovoca's
Akerland concession in northern Sweden.
Sample Zinc %
A001 17.01
A002 40.06
A003 44.78
A004 37.52
These tests were carried out by Aurum Exploration Limited, an independent group
of geological consultants, on behalf of Ovoca. Following these results Aurum is
carrying out a site review on Akerland and Ovoca's other Swedish properties to
plan an upcoming winter exploration programme.
Contacts
Tom McCormack
Connexions +353 (0)86 245 2415
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