4th Jul 2016 07:44
LONDON (Alliance News) - Orogen Gold PLC on Monday said drilling is to recommence at the Mutsk gold project in southern Armenia.
Orogen said the drilling work will focus on significantly extending the gold zone at Mutsk and will follow-on from drilling undertaken at the project in 2015.
The new drilling programme, Orogen said, will complete its earn-in agreement for the project, giving it an 80% stake in the site. It expects to complete the drilling by the end of August.
"Our recent work has allowed us to understand the nature and structure of the mineralisation. We have carried out additional ground geophysics to test, and hopefully, confirm our expectations for the final earn-in drilling programme," said Orogen Chief Executive Colin Bird.
Shares in Orogen were down 1.1% to 0.0178 pence Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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