22nd Oct 2013 09:32
LONDON (Alliance News) - Ovoca Gold PLC Tuesday said it has completed a resource estimate for its Stakhanovskiy Project in Russia.
The Russia focused gold producer said the resource estimate, based on sampling information available at the end of 2012, showed a total identified mineral resource of 4.4 million tonnes containing 2.3 grams per tonne or 327,000 ounces of gold.
Ovoca said its resource modelling at the site identified four mineralised zones and showed that mineralisation extends to roughly 50 metres to 60 metres depth.
The company also said it expects the Zabolocheniy site to provide the company's strongest results in the future.
Ovoca Gold shares were trading flat at 8.75 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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