Ovoca Gold PLC
11 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 metals
developer with assets in Russia, Sweden and Ireland, is pleased to announce
preliminary results from its drilling and trenching programme in the
Kolmozero-Voronya License area, Kola Peninsula, Northwest Russia.
Since acquiring three additional exploration licenses in the highly-prospective
Kolmozero-Voronya Greenstone Belt, Ovoca has advanced exploration activities on
all four licenses. Drilling and trenching has continued on its
Kolmozero-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 been
conducted on the three additional license areas to define drill targets for the
2007 exploration programme.
The results have proven positive, though not as dramatically high as in some
previous drilling in 2005. This is because the drill holes have been located to
define the outer limits of the ore body with the intent of revising the current
resource estimates and were not specifically located to intersect the high grade
zone. Nevertheless, medium to high grade mineralisation continued to be
intersected.
Oleninskoye
Of significance are the high-grade intersections at Oleninskoye of: 13.5 grammes
per tonne gold over 1.5 metres in borehole BF-075 and 19.9 grammes per tonne
gold over 1.0 metre in trench K-BF-091. Eight of the holes drilled on
Oleninskoye intersected pegmatite within the area where the vein intersection
was anticipated. These pegmatite veins are known to cut across the veins and
are seen at surface. These holes will be relocated and re-drilled such that
they intersect the gold bearing quartz vein and avoid intersecting these
pegmatites.
Nyalm
The preliminary results from drilling at Nyalm have defined a wide zone of
continuous gold mineralisation over 14 metres in bore hole BF-107 with high
grade intersections of 11.2 grammes per tonne gold over an intersection of 2.0
metres in hole BF-107 and 7.5 grammes per tonne gold over 1.1 metres in hole
BF-108.
The exploration programme is continuing on the four licenses and results will be
released as they are received.
The following table includes the latest assay results received from drilling and
trenching on the Oleninskoye gold deposit and drilling on the Nyalm gold
deposit.
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 5.47
Nyalm 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 for
Mining, Oil and Gas Companies issued by the London Stock Exchange in March 2006.
Mr. Turner, with 40 years of mining engineering, management and consulting
experience, graduated as a mining engineer from the Camborne School of Mines,
has an MSc degree in Economic Geology from Leicester University and is a member
in good standing with the Institute of Materials, Mining and Metallurgy and a UK
Chartered Engineer.
Glossary:
Pegmatite: a light coloured rock formed of coarse crystals often associated
with rare metals;
Ovoca Resources Plc is an international exploration company with dual listing in
London (OVG.L) and Ireland (OVX.IR), exploring for Precious and base metals in
Russia, 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 740 452
Email: simon.beardsmore@ovocagold.com Email: nick@buckbias.com / alex@buckbias.com
John Frain - Davy Tom McCormack
Tel: +353 (0)1 679 6363 Connexions +353 (0)86 245 2415
Email: john.frain@davy.ie Email: tom.mcc@indigo.ie
Richard Chase - Ambrian (AIM Broker)
+44 (0)207 776 6461
Email: richard.chase@ambrian.com
This information is provided by RNS
The company news service from the London Stock Exchange
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