Oromin Explorations Ltd.: OJVG Identifies Additional New Gold Discoveries to Compliment Existing Deposit Resources
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/16/11 -- Oromin Explorations Ltd. ("Oromin") (TSX: OLE)(OTCBB: OLEPF), on behalf of Oromin Joint Venture Group Ltd. ("OJVG"), is pleased to provide an exploration progress update for the OJVG Gold Project in Senegal, West Africa.
OJVG is continuing to examine financing, development and strategic alternatives to build value for Oromin and its partners in OJVG, Bendon International and Badr Investment & Finance, as it continues with its successful exploration of the Project.
Currently, the OJVG Gold Project hosts eight gold deposits which collectively contain Indicated Resources of 3.31 million ounces, and Inferred Resources of 0.43 million ounces, summarized in detail on page 4 of this News Release. All eight of the current OJVG Gold deposits remain open to considerable lateral and depth expansion, in part demonstrated by the successful deep drilling program completed earlier this year at the Golouma deposit (refer to Oromin News Release of July 14, 2011).
In addition to the eight deposits, ongoing exploration has successfully identified the following ten further high-priority targets and new discoveries, (shown on the accompanying plan map):
During the past few months, varying amounts of exploration activity and drilling has been undertaken on most of these discoveries and targets. Although some of these priority targets remain at a very early stage, such as the two newest discoveries at Kouroundi and Torosita, others are sufficiently advanced to permit the preparation of an initial resource estimate. The more advanced of these targets are Mamasato, Kinemba, Sekoto and Koutouniokolla. Continued positive exploration results at these numerous priority targets could further enhance the Project's overall Resource base. The following summarizes the recent exploration results for 6 of the OJVG targets and new discoveries.
MAMASATO:
Mamasato is located approximately 4.5 kilometres north of the Golouma deposit and approximately 2 kilometres southeast of the centre of the Masato deposit. Mamasato is represented by an 800 metre long, east-west oriented gold-in-soil geochemical anomaly (greater than 100 ppb gold) which is coincident with a series of NNE and E-W oriented quartz vein systems hosted by two or three sub-parallel sheared and altered zones within a package of mafic volcanics and felsic intrusive units. The average oxide depth at Mamasato is the range of 50 to 60 metres below surface making it another potential source of mineralization that can be evaluated as near surface, CIL "soft-ore" mill feed.
To date, 50 drill holes have been completed at Mamasato testing the lateral extent of the alteration zone across a 650-metre strike extent and locally to approximately 250-metres down dip. Results for six holes are pending.
Previously released trenching and drilling results include:
The most significant results from recent drilling at Mamasato include:
KINEMBA:
Kinemba is located approximately 5 kilometres southwest of the Golouma deposit. At Kinemba, drilling to date has intersected multiple zones of potential Heap Leach gold mineralization along a minimum strike extent of 550 metres and locally to depths of approximately 200 metres. As at Mamasato, the oxide depths at Kinemba are approximately 50 to 60 metres below surface. Kinemba is another source of near surface mineralization that can be evaluated as potential Heap Leach or CIL mill feed. Previously released results from Kinemba include:
SEKOTO:
Sekoto is located approximately 9 kilometres northeast of the Golouma deposit and approximately 4 kilometres east of the Masato deposit. Sekoto has only recently been the focus of exploration drilling as a potential Heap Leach deposit, following up on previous exploration hole RC-363 which intersected 1.15 g/t gold over 16 metres, from 170 to 186 metres. Exploration drilling has targeted oxide mineralization up-dip of the RC-363 intersection. Drill holes completed to date along a strike extent of approximately 400 metres have identified a deeper than usual oxide depth, ranging between 50 and 75 metres below surface.
Previously released results from Sekoto include:
The most significant recent drilling results include:
KOUTOUNIOKOLLA:
Koutouniokolla is located approximately 3.5 kilometres to the southwest of the Golouma deposit. This priority target is similar to many others at the OJVG Gold Project in that Koutouniokolla is represented by intersecting gold-bearing structures, one trending north-northwest and the other north-northeast. Drilling to date has been limited to an area of 150 metres by 150 metres and to depths of 100 to 150 metres. Previously released results include the following:
The most significant of Oromin's recent drilling results include:
Drilling is ongoing at Koutouniokolla.
KOUROUNDI:
The Kouroundi discovery is located 3 kilometres to the north of the Golouma deposit. Kouroundi is a broad north-northwest trending shear hosted quartz vein system which abuts against and continues beneath an extensive laterite plateau. The discovery trench at Kouroundi, adjacent to the laterite cover, returned 2.05 g/t gold over 20 metres, including 3.5 g/t gold over 9 metres. Results from the initial drilling at Kouroundi, mimic the trenching, in that both visually and analytically there is a noted improvement to the north towards and beneath laterite cover. Recent results from the northernmost section drilled at this very early stage of exploration include:
Results are pending from seven additional holes completed at Kouroundi, all of which are located further north along trend.
TOROSITA:
One of the newest discoveries at the OJVG Gold Project, Torosita is located 6 kilometres west of the Golouma deposit. Torosita comprises a series of gold-in-soil geochemical anomalies (greater than 100 ppb gold) localized within a vast area of laterite cover. These anomalies are coincident with a series of NE-trending altered shear zones over strike extent of up to 1 kilometre as demonstrated by recent trenching. In addition to the extensive regional structural target, a series of NNW and E-W oriented higher-grade dilational shear hosted quartz veins have been identified through surface prospecting, trenching and active small-scale artisanal mining. Surface prospecting results from these higher grade zones include values of 15.55 g/t gold, 26.61 g/t gold and 35.1 g/t gold. Drilling has not yet started at Torosita although is planned prior to year end.
The following summarizes the most significant results from the initial trenching of the NE-trending Torosita Heap Leach target:
Complete interval breakdowns for the above listed recent drill holes at Mamasato, Sekoto, Koutouniokolla and Kouroundi are summarized in the accompanying appendix.
OJVG DEPOSIT RESOURCES
Based on the most recent Resource update completed on behalf of the OJVG utilizing drilling data to the end of 2010, and announced in Oromin's New Releases dated May 5 and May 12, 2011, the OJVG Gold Project hosts an Indicated Resource of 3,312,000 ounces of gold and an Inferred Resource of 430,000 ounces of gold, comprised of the following:
The 2011 OJVG exploration program is continuing with excavator trenching on several new exploration targets and further drilling using three drills testing a variety of priority targets throughout the Project.
Technical Supervision
Doug Turnbull, P. Geo., is a qualified person for the purposes of National Instrument 43-101, and has verified the data disclosed in this news release. William Bond, P. Geo., is also a qualified person for the purposes of National Instrument 43-101, and has supervised geologic field procedures. TSL Laboratories in Saskatoon carried out all assaying under industry-standard QA/QC procedures.
To find out more about Oromin Explorations Ltd., visit .
On behalf of the Board of Directors of OROMIN EXPLORATIONS LTD.
Chet Idziszek, President and CEO
Cautionary Statement
This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans and our other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. Such forward-looking statements include, without limitation, estimates of exploration investment and the scope of exploration programs. There can be no assurance that such statements will prove to be accurate, and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates or opinions change. Forward-looking statements are subject to risks, uncertainties and other factors, including risks associated with mineral exploration, price volatility in the mineral commodities we seek, and operational and political risks. Readers are advised not to place undue reliance on forward-looking statements.
To view the map accompanying this press release, click on the following link:
Contacts:
Oromin Explorations Ltd.
David Scott
Investor Relations
(604) 331-8772 or Toll-free: (877) 529-8475
(604) 331-8773 (FAX)
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 16.11.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 1057846
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
VANCOUVER, BRITISH COLUMBIA
Phone:
Kategorie:
Oil & Gas
Anmerkungen:
Diese Pressemitteilung wurde bisher 63 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Oromin Explorations Ltd.: OJVG Identifies Additional New Gold Discoveries to Compliment Existing Deposit Resources
"
steht unter der journalistisch-redaktionellen Verantwortung von
Oromin Explorations Ltd. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
