Drilling Report

Ovoca Resources plc Ovoca Gold plc ('Ovoca' or the 'Company') Ovoca Changes Name to Ovoca Gold and Acquires Additional Licenses on the Kolmozero-Voronya Greenstone Belt -- Ovoca the AIM (OVG.L)and IEX (OVX.IR) traded precious metals developer with assets in Russia, Sweden and Ireland, announces that it has, following shareholder approval at its AGM on the 29 September 2005 changed its name to Ovoca Gold Plc. -- In addition the company has acquired additional licenses for precious and base metals adjacent to and to the south-west of its current Kolmozero-Voronya license within the highly prospective Kolmozero-Voronya Greenstone Belt in the Kola Peninsula in Russia. -- Latest drilling and trenching results from the 2005 exploration programme in the Kolmozero-Voronya License and the Åkerland zinc property in Sweden are reported. At the Annual General Meeting of the 29 September 2005, shareholders approved the change of name to Ovoca Gold Plc. The Company believes that the new name more accurately reflects the Company's focus on the acquisition and development of precious metal deposits. The new name will take effect upon completion of registration the name change at the Irish Companies Registration Office. Black Fox Resources, a Russian owned subsidiary of Norplat Limited which is 78% owned by Ovoca Gold Plc has been awarded two new exploration licenses in the highly prospective Kolmozero-Voronya Greenstone Belt of the Kola Peninsula. These licenses include an extension to the south and east of the current Kolmozero Voronya License (Kolmozero-Voronya) and an additional area further to the east encompassing the Kontozero Caldera. The licenses, including the existing license, encompass a total area of 421 square kilometres. License Number Area sq. km. Validity to ------------------------------------------------------------------------- Kolmozero-Voronya MYP11629 152 8 July 2008 ------------------------------------------------------------------------- Kolmozero-Voronya SW MYP00717 117 15 Nov. 2010New ------------------------------------------------------------------------- Kontozero MYP00716 152 15 Nov. 2010New ------------------------------------------------------------------------- Total 421 ------------------------------------------------------------------------- The Kolmozero-Voronya Greenstone Belt is very similar in geology to the many of the Archean gold producing greenstone belts associated with the Abitibi Gold Belt of Canada, within which lies the Kirkland Lake deposit (24 million ounces) Sigma-Lamak (9.8 million ounces) and many other mines producing a total of over 38 million ounces (per annum). Within the pre-existing license there are eight gold deposits which have been defined by drilling and trenching. There is evidence of continuity along strike between these gold and platinum bearing structures over a distance of 20 kilometres. The extension to the south and east of the current license results in the inclusion of additional gold and platinum mineralised prospects including Verhkny Nyalm and protects the extension of the deposits which were close to the previous license boundary. All prospective ground between the north-eastern and south-eastern flanks of the greenstone belt is now covered by Black Fox exploration licenses. The Kontozero license is situated to the east of the two former licenses and encloses a large collapsed caldera with an associated extensive high grade gold geochemical anomaly. Analogy to economic mineralised structures in other parts of the world include Cripple Creek, Colorado, USA, which has produced over 22 million ounces since 1891. The following table includes the latest assay results, as indicated. In the definition drilling and trenching of the Oleninskoye deposit the results have not been as dramatically high as in earlier drilling. The 2005 programme was directed towards defining the limits of the ore bodies prior to more detailed drilling and trenching to develop a western classified resource. In this respect a number of drill holes and trenches would have fallen outside the ore boundary. There still remains assay results to be received which will be reported when received and reviewed. The 2005 exploration fieldwork programme is now complete and all results are currently being reviewed. The results and conclusion of the exploration programme will be reported later this year. Kolmozero-Voronya Project Drill & Trench Results to date 10 Nov.2005 Deposit Drill Hole Trench Metres Depth Intersect Gold Silver From To Metres Grade g/t Grade g/t ---------------------------------------------------------------------------------------------------- S Leshaya BF-041-48 86.8 88.5 1.7 80.3 BF-043-18 55.1 56.7 1.6 26.5 BF-044-02 5.0 7.0 2.0 211.0 ---------------------------------------------------------------------------------------------------- Oleninskoye 3 BF-027-24 150.4 150.9 0.5 4.20 BF-027-38 216.2 217.9 1.7 4.97 BF-028-22 109.40 111.20 1.8 51.60 28.00 BF-028-21+22 108.4 112.2 2.8 83.81 37.68 Including BF-028-21 108.40 109.40 1.0 141.80 55.10 BF-028-51&52 179.20 180.10 0.9 3.23 0.47 BF-037-163 218.50 219.60 1.1 7.62 BF-039-45 69.90 71.90 2.0 8.30 0.31 BF-040-84 163.00 165.00 2.0 5.20 0.44 BF-045-33 123.2 124.7 1.5 88.6 BF-046-23 199.6 200.6 1.0 0.87 New BF-046-41 221.2 222.2 1.0 6.52 BF-046-50 230.2 231.7 1.5 0.99 BF-048-16 89.8 91.3 1.5 29.6 BF-048-22 98.8 100.3 1.5 1.97 BF-048-52 144.8 146.0 1.2 1.06 New BF-052-6 171.1 172.1 1.0 1.08 New BF-052-37 226.6 227.6 1.0 1.19 New BF-052-43 232.6 233.6 1.0 8.66 New BF-052-48 237.8 239.3 1.5 1.58 New BF-053-8 196.2 197.1 0.9 3.24 New BF-053-13 246.7 248.2 1.5 0.86 New BF-054-3 47.0 49.0 2.0 1.07 k-13-C-023 22.5 23.5 1.0 2.2 4.5 k-13-C-028 27.5 28.6 1.1 8.6 6.2 k-13-C-030 29.8 31.0 1.2 24.0 6.0 k-15-C-10368 8.0 10.0 2.0 12.0 0.5 New BF-K-500-3 3.0 4.5 1.5 1.24 New BF-K-511-5 6.0 7.0 1.0 1.23 New BF-K-511-6 7.0 8.0 1.0 1.48 New BF-K-513-8 10.0 11.5 1.5 8.38 New BF-K-513-15 18.0 19.0 1.0 4.76 New BF-K-503á-12 15.0 16.0 1.0 1.33 New BF-K-503á-19 22.0 23.0 1.0 9.35 New BF-K-15-C-4 4.5 5.5 1.0 0.97 New BF-K-15-C-1 11.0 12.0 1.0 1.14 New BF-064-3 22.0 24.0 2.0 0.71 New BF-K-508-1 0.0 1.0 1.0 1.17 New BF-K-508-2 1.0 2.0 1.0 3.1 New BF-K-508-3 2.0 3.2 1.2 6.8 New BF-K-508-4 3.2 4.4 1.2 13.6 New BF-K-508-5 0.0 0.9 0.9 0.18 New BF-K-508-6 0.9 2.2 1.3 1.08 New BF-K-508-7 2.2 3.2 1.0 1.96 New BF-K-508-8 3.2 4.1 0.9 0.51 ---------------------------------------------------------------------------------------------------- Oleninskoye 7 BF-029-52 120.60 121.80 1.20 2.90 1.44 BF-031-16 64.45 65.10 0.65 5.25 3.90 k-BF027-12 12.0 13.0 1.0 50.2 9.92 k-BF028A-020 21.6 22.1 0.5 1.2 k-BF028A-024 25.2 26.0 0.8 1.2 28.0 k-BF-025A-2 3.1 4.1 1.0 1.22 k-BF-077-6 15.7 17.2 1.5 0.76 New BF-060-10 85.0 86.5 1.5 1.47 New BF-060-17 95.0 96.2 1.2 4.17 New BF-060-18 96.2 97.2 1.0 1.18 ---------------------------------------------------------------------------------------------------- Oleninskoye k-BF056-073 86.7 87.2 0.5 1.19 2.32 (North Zone) New BF-1309-1-A 11.0 11.5 0.5 2.72 Ovoca is also pleased to announce the following recent assay results of vein samples collected from the high grade sphalerite calcite zinc deposit at Ovoca's Akerland concession in northern Sweden. Sample Zinc % A001 17.01 A002 40.06 A003 44.78 A004 37.52 These tests were carried out by Aurum Exploration Limited, an independent group of geological consultants, on behalf of Ovoca. Following these results Aurum is carrying out a site review on Akerland and Ovoca's other Swedish properties to plan an upcoming winter exploration programme. Contacts Tom McCormack Connexions +353 (0)86 245 2415

Companies

Ovoca Bio (CDI) (OVB)
UK 100
FTSE quotes by TradingView

Latest directors dealings

All directors dealings today