Orca Confirms New High Grade Zone at Block 14
![Orca Confirms New High Grade Zone at Block 14](https://www.goldseiten.de/media/goldseiten-news.jpg)
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 10, 2014) - Orca Gold Inc. (TSX VENTURE:ORG) ("Orca" or the "Company") is pleased to provide an update on exploration at its Galat Sufar South ("GSS") prospect on its 7,000km2 Block 14 mineral license in Sudan. Orca holds a 70% interest in Block 14.
Orca's current Mineral Resource at Galat Sufar South ("GSS") comprising Indicated Resources of 22.2MT at 1.84g/t for 1.3 million ounces of gold and Inferred Resources of 6.5Mt at 1.9g/t for an additional 0.4 million ounces of gold, was reported in its news release dated January 29, 2014.
Ongoing exploration in Block 14 continues to demonstrate the district scale nature of gold mineralisation in the permit with large numbers of targets being defined and extensive artisanal mining activity. The license has had little or no modern exploration other than work performed by Orca.
Since the previous exploration update (News Release: May 26, 2014), Orca has completed 3,531m of RC drilling including 2,635m aimed at targets within 2km of the GSS resource and a small 521m program at the EG3.2 prospect (see Appendix A for plan map of Block 14).
Results from our recent exploration program continue to show the potential to increase Orca's resource inventory. Ore grade mineralization over significant widths has been intersected in three priority target areas that will now be followed up with infill drilling with the aim of defining resources by the end of the first quarter of 2015. (See Priority targets map at Appendix B). No material from these priority areas is included in Orca's current resource.
J Zone
The high grade J Zone lies just south of the Main Zone resource at GSS. Four holes were drilled at J Zone to follow up on encouraging trench results and a high grade intercept in hole GSRC103 drilled in 2013 (16m @ 8.47, 16m @ 5.57g/t cut). All holes intersected high grade mineralization as tabled below and define mineralisation over 200m strike, on the margins of the current resource.
Hole | From | To | Metres | Au g/t Uncut | Au g/t Cut to 10g/t |
GSRC375 | 50 | 60 | 10 | 27.98 | 3.75 |
GSRC376 | 10 | 26 | 16 | 4.70 | 4.49 |
GSRC377 | 34 | 56 | 22 | 3.65 | 3.21 |
GSRC378 | 27 | 35 | 8 | 2.30 | 2.30 |
47 | 71 | 24 | 1.35 | 1.35 | |
88 | 100 | 12 | 3.94 | 3.21 | |
103 | 120 | 17 | 5.04 | 4.18 |
Note: Drill intercepts are interpreted as between 65 and 85% of true width |
J Zone has the potential to connect westwards into the 320 Zone of the resource and is open to the east where the structure can be traced for several hundred metres in surface sampling, continuing into the untested F target.
North East Zone
As our understanding of the geological controls strengthens, we are now beginning to be able to connect a number of previously identified targets.
Orca has developed a 1.5km, NE striking resource target extending from the eastern edge of the current resource, linking a number of previous prospects (East of East, Carbonate Ridge SE, NW Target) (Map appendix A).
The mineralized trend has been defined in detail by surface sampling and the table below details results of drilling to date within this trend (* marks previously released holes).
Target | Hole | Type | From | To | Metres | Au g/t Uncut | Au g/t Cut to 10g/t |
East of East | GSRC294 | RC | 1 | 5 | 4 | 0.94 | |
20 | 26 | 6 | 0.41 | ||||
GSRC299 | RC | 99 | 103 | 4 | 2.01 | ||
GSRC300* | RC | 78 | 86 | 8 | 1.52 | ||
118 | 123 | 5 | 5.78 | ||||
GSRC301* | RC | 20 | 44 | 24 | 3.03 | 2.78 | |
GSRC302* | RC | NSI | |||||
GSRC303* | RC | 16 | 37 | 21 | 1.82 | ||
GSRC304* | RC | 0 | 17 | 17 | 1.63 | ||
34 | 42 | 8 | 1.57 | ||||
67 | 75 | 8 | 1.73 | ||||
81 | 87 | 6 | 3.26 | ||||
GSRC305* | RC | 26 | 30 | 4 | 2.00 | ||
45 | 51 | 6 | 3.37 | ||||
GSRC346 | RC | 1 | 7 | 6 | 1.88 | ||
38 | 45 | 7 | 16.87 | 3.94 | |||
GSRC352 | RC | 32 | 38 | 6 | 1.09 | ||
GSRC353 | RC | 0 | 24 | 24 | 1.48 | ||
GSRC354 | RC | 25 | 35 | 10 | 1.01 | ||
GSRC355 | RC | 42 | 46 | 4 | 0.82 | ||
GSRC356 | RC | 23 | 32 | 9 | 1.99 | ||
GSRC357 | RC | 1 | 17 | 16 | 1.83 | ||
20 | 27 | 7 | 0.59 | ||||
GSRC358 | RC | 35 | 39 | 4 | 0.73 | ||
42 | 50 | 8 | 1.87 | ||||
GSRC359 | RC | NSI | |||||
Carb R SW | GSRC336* | RC | 34 | 49 | 15 | 2.99 | 1.84 |
52 | 63 | 11 | 1.45 | ||||
67 | 80 | 13 | 1.38 | ||||
89 | 99 | 10 | 1.85 | ||||
GSRC337* | RC | 51 | 58 | 7 | 4.73 | 4.71 | |
75 | 83 | 8 | 1.26 | ||||
GSRC347 | RC | 7 | 12 | 5 | 0.79 | ||
50 | 57 | 7 | 2.27 | 2.06 | |||
GSRC348 | RC | NSI | |||||
GSRC349 | RC | 19 | 26 | 7 | 4.84 | 4.14 | |
GSRC350 | RC | 11 | 42 | 31 | 1.57 | ||
GSRC351 | RC | 12 | 17 | 5 | 1.73 | ||
GSRC383 | RC | NSI | |||||
Carb R NE | GSRC306 | RC | 19 | 25 | 6 | 5.83 | 5.51 |
GSRC307 | RC | 2 | 19 | 17 | 8.20 | 6.21 | |
25 | 35 | 10 | 2.42 |
Note: Drill intercepts are interpreted as between 65 and 85% of true width. NSI: no significant intercept |
Mineralization is similar in nature and style to the GSS resource however to the north east mineralisation is also hosted by the prominent carbonate dominated ridges that characterize the area north of the resource and the discovery of mineralisation in this new setting is leading to the re-evaluation of the carbonates as a whole.
Systematic fence drilling of this 1.5km trend will begin in September 2014 with the aim of adding additional ounces into the GSS resource inventory.
Other GSS Targets
Alteration and gold anomalism is present over a wide area at GSS. GSS is a large mineralized system with much of the area under sand cover. Drilling at other targets continues to return positive intercepts, notably 19m @ 6.04g/t (19m @ 3.91g/t cut) at Target NE, just north of the North East Zone and one hole at target A which returned multiple intercepts including 5m @ 2.45 g/t, 12m @ 2.3 g/t and 4m @ 4.2 g/t (4m @ 3.85 g/t cut). We continue to prioritize new targets for ongoing surface testing with a view to potential future drill testing.
EG3.2 Prospect
The EG3.2 Prospect sits approximately 60km east of GSS on the eastern side of the regional Keraf shear zone.
The first drilling at the EG 3.2 prospect (news release dated May 12, 2014) defined high grade mineralisation associated with artisanal workings at the base of a small hill where surface sampling had identified widespread gold anomalism.
Work since then has focused on expanding the known mineralization with further surface sampling and a small RC drill program was completed in June. Highlights from this drilling at EG3.2 are shown in the table below:
Hole | Type | From | To | Metres | Au g/t Uncut | Au g/t Cut to 10g/t |
GSRC384 | RC | 25 | 28 | 3 | 7.20 | 4.07 |
36 | 43 | 7 | 0.93 | |||
47 | 50 | 3 | 8.23 | 4.03 | ||
GSRC386 | RC | 16 | 23 | 7 | 0.79 | |
46 | 49 | 3 | 6.33 | 5.48 | ||
GSRC390 | RC | 5 | 25 | 20 | 1.09 | |
40 | 44 | 4 | 1.73 | |||
104 | 107 | 3 | 2.99 | |||
113 | 120 | 7 | 1.34 | |||
GSRC391 | RC | 2 | 7 | 5 | 1.03 | |
35 | 41 | 6 | 1.40 | |||
44 | 57 | 13 | 2.13 | |||
70 | 101 | 31 | 1.51 |
Note: Drill intercepts are interpreted as between 65 and 85% of true width. NSI: no significant intercept |
The latest round of drilling has been successful in confirming a second mineralized zone outcropping over a strike length of 300m, on the eastern flank of the hill. Drill coverage is incomplete and of the two holes drilled, GSRC390 returned anomalous grade over its complete 100m length.
Drilling is now planned to start in September to systematically drill EG3.2 which shows anomalous gold grades in surface sampling over 350m strike and up to 200m width.
Commenting, Simon Jackson, President and CEO, said, "Block 14 continues to justify our decision to operate in the north of Sudan. In a very short time our work on Block 14 has developed from reconnaissance exploration to discovery, to resource definition and now to resource expansion. At the same time, continued generative exploration has resulted in a new discovery, 60 km away from GSS, still on Block 14. The prospectivity of the Nubian Shield continues to impress and this geological setting clearly has the potential to be a new world class gold region. In the current challenging gold price environment the focus has to be on grade. The GSS deposit has both grade and significant size potential, as demonstrated by the results of our work this summer. We continue to be excited by the results at both GSS and EG3.2 and look forward to reporting a revised resource estimate in Q1 2015."
About Orca
Orca Gold Inc. is a Canadian resource company focussed on exploration opportunities in Africa. The Company has an experienced board of directors and management team and a strong balance sheet that includes a substantial treasury.
The technical contents of this release have been approved by Hugh Stuart, BSc, MSc, a Qualified Person pursuant to NI-43101. Mr. Stuart is the Vice President Exploration of the Company and a Chartered Geologist and Fellow of the Geological Society of London.
Samples used for the results described herein are prepared and analyzed by fire assay using a 50 gram charge at the ALS Chemex facility at Rosia Montana in Romania in compliance with industry standards. Field duplicate samples are taken and blanks and standards are added to every batch submitted.
On behalf of the Board of Directors:
Simon Jackson, President, CEO and Director
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "anticipate", "believe", "plan", "expect", "intend", "estimate", "forecast", "project", "budget", "schedule", "may", "will", "could", "might", "should" or variations of such words or similar words or expressions or statements that certain events "may" or "will" occur. Forward-looking statements in this press release include, but are not limited to, statements relating to indicates and inferred mineral resources, the potential to expand the resource targets in the Main and East Zones, the plans of the Company to conduct preliminary metallurgical testwork and increase its ownership in Block 14 and the future potential of GSS to become a commercial mining operation, including exploration activities.
Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company's projections and estimates; interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; local political instability or unrest, local economic instability; global economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; the speculative nature of strategic metal exploration and development including the risks of diminishing quantities of grades of reserves; contests over title to properties; and changes in project parameters as plans continue to be refined. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the price of gold; the demand for gold; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective manner; the expected timing, costs, and results of a PEA; the expected burn rate; the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company does not undertake any obligation to update forward-looking information if circumstances or management's estimates, assumptions or opinions should change, except as required by applicable law. Accordingly, readers should not place undue reliance on forward-looking information contained herein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view "Appendix A: Block 14 Permit Showing Prospect Locations" please visit the following link: http://media3.marketwire.com/docs/OrcaGold-AppendixA-91014.jpg.
To view "Appendix B: Galat Sufar South Priority Targets for infill drilling" please visit the following link: http://media3.marketwire.com/docs/OrcaGold-AppendixB-91014.jpg.