Drilling Update
December 07 2009 - 9:10AM
UK Regulatory
TIDMOVG
RNS Number : 7000D
Ovoca Gold PLC
07 December 2009
Ovoca Gold plc ("Ovoca" or the "Company")
Drilling Update
Ovoca announces that it has resampled and tested previously drilled core
material on the Oleninskoye deposit in the Company's licences in the Kola
peninsula, north western Russia.
Following a review of previously announced drilling results, Ovoca's geologists
decided to follow a new sample preparation technique, which was recommended to
them by TsNIGRI, a leading Russian Institute (www.tsnigri.ru). The technique
used is geoelectric down hole survey to identify anomalous sections along the
core length, as well as sample preparation to take into account the presence of
free gold particles up to 0.5-1.0 mm in size in the drill core.
Highlight results for the retest samples, are compared to the previous results
from the same samples in the table below:
+------+------------+----------+-------+-------------+-----------------+-------------+-----------------+
|No. | Bore hole | Sample | Interval, m | Au, g/t | Previous |
| | ID number | | |retest 2009 | Au assay, g/t |
+ + + +---------------------------------------+ + +
| | | | from | | | to | length |
+------+------------+----------+-------+-------------+-----------------+-------------+-----------------+
| 1 | C-BF-115 | 21 | 60.8 | 62.3 | 1.5 | 6.35 | 0.33 |
+------+------------+----------+-------+-------------+-----------------+-------------+-----------------+
| 2 | C-BF-116 | 22 | 105.3 | 106.8 | 1.5 | 8.18 | 0.27 |
+------+------------+----------+-------+-------------+-----------------+-------------+-----------------+
| 3 | C-BF-112 | 71 | 332.0 | 334.0 | 2.0 | 1.33 | 0.17 |
+------+------------+----------+-------+-------------+-----------------+-------------+-----------------+
| 4 | C-BF-076 | 6 | 33.4 | 34.4 | 1.0 | 3.01 | <0.05 |
+------+------------+----------+-------+-------------+-----------------+-------------+-----------------+
| 5 | C-BF-078 | 14 | 83.9 | 84.9 | 1.0 | 7.25 | 0.34 |
+------+------------+----------+-------+-------------+-----------------+-------------+-----------------+
| 6 | C-BF-152 | 121 | 341.9 | 343.1 | 1.2 | 7.50 | 0.20 |
+------+------------+----------+-------+-------------+-----------------+-------------+-----------------+
| 7 | C-BF-154 | 40 | 99.0 | 101.7 | 2.7 | 1.43 | 0.29 |
+------+------------+----------+-------+-------------+-----------------+-------------+-----------------+
| 8 | C-BF-154 | 47 | 113.0 | 115.0 | 2.0 | 6.00 | <0.05 |
+------+------------+----------+-------+-------------+-----------------+-------------+-----------------+
| 9 | C-BF-154 | 49 | 117.0 | 118.5 | 1.5 | 8.59 | 0.65 |
+------+------------+----------+-------+-------------+-----------------+-------------+-----------------+
| 10 | C-BF-155 | 43 | 130.3 | 132.4 | 2.1 | 14.80 | 1.10 |
+------+------------+----------+-------+-------------+-----------------+-------------+-----------------+
| 11 | C-BF-155 | 70 | 184.9 | 186.9 | 2.0 | 2.36 | 0.25 |
+------+------------+----------+-------+-------------+-----------------+-------------+-----------------+
| 12 | C-BF-158 | 25 | 196.5 | 197.8 | 1.3 | 8.55 | 2.48 |
+------+------------+----------+-------+-------------+-----------------+-------------+-----------------+
The new data is significant for the Oleninskoye project, as it implies that the
potential of the ore body is higher than previously thought. A programme of
resampling and retesting of drill core has been developed by Ovoca which is
expected to be completed by the end of the first quarter 2010.
Tim McCutcheon, CEO, comments: "These results are a testament to the
thoroughness by which our geologists look at collected data. TsNIGRI is a well
respected institution, and the technique recommendation that they made and was
implemented by the Company will be used in the future to improve our
understanding of Oleninskoye's potential value. I believe Oleninskoye looks much
more attractive now that we have this new data and I look forward to receiving
the full results of the retest programme."
Qualified Person
The above information has been reviewed and verified by Mr. Roger Turner for the
purposes of the Guidance Note for Mining, Oil and Gas Companies issued by the
London Stock Exchange in March 2006. Mr. Turner, with 40 years of mining
engineering, management and consulting experience, graduated as a mining
engineer from the Camborne School of Mines, has a M.Sc. degree in Economic
Geology from Leicester University and is a member in good standing with the
Institute of Materials, Minerals and Mining and a UK Chartered Engineer.
For further information please visit www.ovocagold.com or contact:
Ovoca Gold plc
Timothy McCutcheon +7 495 916 6029 tim.mccutcheon@ovocagold.com
Mr Danesh Varma, CFO +44 207 653 9881 danesh.varma@ovocagold.com
Davy
John Frain +353 1 679 6363
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
END
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