Operational Update

RNS Number : 6421V

Ovoca Gold PLC

14 July 2009

 

                                                                        Ovoca Gold plc

9 hole diamond drilling programme completed on the Oleninskoye gold deposit

Ovoca Gold plc ('Ovoca' or the 'Company') announces that it has recently completed a nine hole diamond drilling programme on the Oleninskoye deposit in the Company's licences in the Kola peninsula, north western Russia. The results of the drilling programme were assays of up to 9.2 grams per tonne gold and 46.6 grams per tonne silver over a 1 metre interval and up to 5.8 grams per ton gold and 34.4 grams per ton silver in a 3.2 metre drill hole intersection.  The holes were drilled on a tight 30 metre by 30 metre grid in an attempt to understand the 'nugget effect' (the erratic distribution of gold and silver grades within an ore body) which had been shown to exist within the vein system, as previous drilling results showed sporadic high grades of up to 141.8 grams per ton gold.

Table 1. Summary of 2009 Drilling Results

DDH No	From	To	Intersection	Gold	Silver*
	Meters	Meters	Meters	grams/ton	grams/ton
ODD-1	30.1	32.0	1.9	1.47	3.50
including	30.1	31.0	0.9	1.52	4.47
and	31.0	32.0	1.0	1.42	2.63
ODD-1	34.0	35.0	1.0	1.72	< 1.00
ODD-1	46.4	48.2	1.8	3.80	31.65
including	46.4	47.3	0.9	3.55	40.60
and	47.3	48.2	0.9	4.04	22.70
ODD-1	53.5	54.5	1.0	4.57	3.90
ODD-2	82.0	84.1	2.0	5.35	27.05
including	82.0	83.0	1.0	7.30	43.00
and	83.0	84.1	1.0	3.40	11.10
ODD-2	84.1	85.2	1.1	1.33	2.08
ODD-2	87.4	88.6	1.2	1.30	< 1.00
ODD-3	16.0	17.2	1.2	1.37	1.44
ODD-3	31.7	32.8	1.1	1.60	51.60
ODD-3	35.1	36.2	1.1	2.67	2.86
ODD-4	41.5	42.6	1.1	3.94	5.60
ODD-4	72.2	73.4	1.2	1.81	3.80
ODD-5	78.0	79.1	1.1	1.18	1.50
ODD-5	91.7	93	1.3	1.20	< 1.00
ODD-6	11.1	12.1	1.0	1.30	< 1.00
ODD-6	21.2	22.3	1.1	1.05	1.56
ODD-7	49.8	51.2	1.4	2.15	8.90
ODD-7	56.0	57.1	1.1	1.46	<1.00
ODD-7	65.0	66.1	1.1	1.73	1.21
ODD-8	75.4	76.5	1.1	1.14	2.24
ODD-8	97.1	98.2	1.1	1.02	2.40
ODD-8	100.4	102.4	2.0	5.77	12.78
including	100.4	101.6	1.2	8.20	12.50
and	101.6	102.4	0.8	2.12	13.20
ODD-8	104.3	105.4	1.1	1.36	< 1.00
ODD-8	107.7	108.8	1.1	1.64	< 1.00
ODD-9	78.8	79.8	1.0	1.05	< 1.00
ODD-9	106.4	108.6	2.2	3.60	19.48
including	106.4	107.3	0.9	2.74	5.00
and	107.3	108.6	1.3	4.20	29.50
ODD-9	109.6	112.8	3.2	5.87	34.40
including	109.6	110.6	1.0	9.20	46.60
and	110.6	111.7	1.1	6.10	42.40
and	111.7	112.8	1.1	2.61	15.30
ODD-9	120.0	120.9	0.9	1.10	1.10
ODD-9	132.5	133.3	0.8	1.50	7.20
ODD-9	135.2	136.0	0.8	3.90	5.90
* - <1.00 - silver grade less than lab detection limit

Table 2. Summary of previous Drilling Results

DDH No	From	To	Intersection	Gold
	Meters	Meters	Meters	grams/ton
C-BF-045	111.0	112.5	1.5	1.27
C-BF-045	118.3	119.3	1.0	1.35
C-BF-045	119.3	120.3	1.0	2.18
C-BF-045	123.2	124.7	1.5	88.60
C-BF-046	221.0	222.2	1.2	6.52
C-BF-048	89.8	91.3	1.5	29.60
C-BF-048	98.8	100.3	1.5	1.97
C-BF-048	144.8	146.0	1.2	1.06
C-BF-052	171.1	172.1	1.0	1.08
C-BF-052	226.6	227.6	1.0	1.19
C-BF-052	232.6	233.6	1.0	8.66
C-BF-052	237.8	239.3	1.5	1.58
C-BF-053	196.2	197.1	0.9	3.24
C-BF-054	47.0	49.0	2.0	1.07
C-BF-058	79.5	81.5	2.0	2.29
C-BF-060	85.0	86.5	1.5	1.47
C-BF-060	95.0	96.2	1.2	4.17
C-BF-060	96.2	97.4	1.2	1.18
C-BF-061	87.9	89.4	1.5	1.24
C-BF-061	90.4	91.4	1.0	2.57
C-BF-075	43.8	45.3	1.5	13.70
C-BF-112	334.0	335.5	1.5	4.30
C-BF-039	193.2	194.2	1.0	2.10
C-BF-040	105.4	107.5	2.1	1.00
C-BF-040	163.0	165.0	2.0	5.20
C-BF-027	124.8	125.9	1.1	1.04
C-BF-027	150.4	150.9	0.5	4.20
C-BF-027	150.9	152.5	1.6	1.05
C-BF-027	215.2	216.2	1.0	1.79
C-BF-027	216.2	217.9	1.7	4.97
C-BF-027	217.9	218.9	1.0	2.70
C-BF-028	108.4	111.2	2.8	83.81
including	108.4	109.4	1.0	141.80
and	109.4	111.2	1.8	51.60
C-BF-028	145.7	146.5	0.8	1.25
C-BF-028	179.2	180.1	0.9	6.30
including	179.2	179.5	0.3	3.94
and	179.5	180.1	0.6	2.88
C-BF-028	229.2	230.6	1.4	1.19
C-BF-029	120.6	121.8	1.2	2.90
C-BF-031	64.4	64.7	0.3	5.25
C-BF-031	64.7	65.1	0.4	4.60
C-BF-039	59.2	60.2	1.0	1.71
C-BF-039	69.9	71.9	2.0	8.30

The next step for the Company is to evaluate the results of this drilling programme together with past results to determine if Oleninskoye warrants additional geological exploration. 

Qualified Person

The above information has been reviewed and verified by Mr. Roger Turner 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 a M.Sc. degree in Economic Geology from Leicester University and is a member in good standing with the Institute of Materials, Minerals and Mining and a UK Chartered Engineer.

For further information contact

Ovoca Gold plc
Mr. Danesh Varma CFO	[phone] [e-mail]
Mr. Leonid Skoptsov CEO	[phone] [e-mail]
Davy
John Frain	[phone]

 

END

 

 

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