11th Sep 2006 07:02
Ovoca Gold PLC11 September 2006 Monday, 11 September 2006 Ovoca gold plc Kola Peninsula drilling results Ovoca Gold Plc, the London AIM (OVG.L) and IEX (OVX.IR) quoted precious metalsdeveloper with assets in Russia, Sweden and Ireland, is pleased to announcepreliminary results from its drilling and trenching programme in theKolmozero-Voronya License area, Kola Peninsula, Northwest Russia. Since acquiring three additional exploration licenses in the highly-prospectiveKolmozero-Voronya Greenstone Belt, Ovoca has advanced exploration activities onall four licenses. Drilling and trenching has continued on itsKolmozero-Voronya License, on the priority gold deposits Oleninskoye and Nyalm,and at Pellapahk, the copper-molybdenum porphyry deposit. In addition,geochemical, geophysical, geological prospecting and trenching have beenconducted on the three additional license areas to define drill targets for the2007 exploration programme. The results have proven positive, though not as dramatically high as in someprevious drilling in 2005. This is because the drill holes have been located todefine the outer limits of the ore body with the intent of revising the currentresource estimates and were not specifically located to intersect the high gradezone. Nevertheless, medium to high grade mineralisation continued to beintersected. Oleninskoye Of significance are the high-grade intersections at Oleninskoye of: 13.5 grammesper tonne gold over 1.5 metres in borehole BF-075 and 19.9 grammes per tonnegold over 1.0 metre in trench K-BF-091. Eight of the holes drilled onOleninskoye intersected pegmatite within the area where the vein intersectionwas anticipated. These pegmatite veins are known to cut across the veins andare seen at surface. These holes will be relocated and re-drilled such thatthey intersect the gold bearing quartz vein and avoid intersecting thesepegmatites. Nyalm The preliminary results from drilling at Nyalm have defined a wide zone ofcontinuous gold mineralisation over 14 metres in bore hole BF-107 with highgrade intersections of 11.2 grammes per tonne gold over an intersection of 2.0metres in hole BF-107 and 7.5 grammes per tonne gold over 1.1 metres in holeBF-108. The exploration programme is continuing on the four licenses and results will bereleased as they are received. The following table includes the latest assay results received from drilling andtrenching on the Oleninskoye gold deposit and drilling on the Nyalm golddeposit. Kolmozero-Voronya Project Drill & Trench Results (31 August 2006) Deposit Drill Hole Trench Depth/Length (m) Intersect Gold (g/t) (m) Oleninskoye BF-058-14 53.8 55.8 2.0 2.29 BF-061-19 87.9 89.4 1.5 1,24 BF-061-21 90.4 91.4 1.0 2,57 BF-075-08 43.8 45.3 1.5 13.70 K-BF-091-1 1.1 2.50 K-BF-091-2 1.0 19.9 K-BF-091-3 1.0 1.09 K-BF-90-20 1.0 2.54 K-BF-90-21 1.0 3.95 K-BF-092-6 1.0 2.83 K-BF-509-8 1.3 2.44 K-BF-509-12 1.3 5.47Nyalm BF-107-09 24.6 26.6 2.0 3.08 BF-107-035 85.0 87.0 2.0 11.20 BF-107-013 30.4 32.4 2.0 4.69 BF-107-014 32.4 34.4 2.0 0.86 BF-107-015 34.4 36.6 2.2 0.57 BF-107-016 36.6 38.6 2.0 1.36 BF-107-017 38.6 40.6 2.0 0.65 BF-107-018 40.6 42.6 2.0 1.71 BF-107-019 42.6 44.6 2.0 0.76 BF-107-029 44.6 75.0 30.4 1.50 BF-108-13 37.2 38.30 1.1 7.50 The above information has been reviewed and verified by Mr. Roger Turner,Director and Chairman of Ovoca, for the purposes of the Guidance Note forMining, Oil and Gas Companies issued by the London Stock Exchange in March 2006.Mr. Turner, with 40 years of mining engineering, management and consultingexperience, graduated as a mining engineer from the Camborne School of Mines,has an MSc degree in Economic Geology from Leicester University and is a memberin good standing with the Institute of Materials, Mining and Metallurgy and a UKChartered Engineer. Glossary: Pegmatite: a light coloured rock formed of coarse crystals often associatedwith rare metals; Ovoca Resources Plc is an international exploration company with dual listing inLondon (OVG.L) and Ireland (OVX.IR), exploring for Precious and base metals inRussia, Sweden and Ireland For further information please visit www.ovocagold.com or contact: Simon Beardsmore, Commercial Manager - Ovoca Gold Plc Nick Bias / Alex Buck - Buck Bias (UK PR)Tel: +44 (0)207 397 8159 Tel: +44 (0)7887 920 530 / +44 (0)7932 740 452Email: [email protected] Email: [email protected] / [email protected] John Frain - Davy Tom McCormackTel: +353 (0)1 679 6363 Connexions +353 (0)86 245 2415Email: [email protected] Email: [email protected] Richard Chase - Ambrian (AIM Broker) +44 (0)207 776 6461 Email: [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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