Orogen Gold, the AIM-listed mineral exploration company focused on the historic gold mining district of Deli Jovan in Serbia, has outlined the next phase of its trenching and drilling programmes for 2013.
At its new discovery in Gindusa West, the company's planned work includes follow-up detailed trench and diamond drill testing of an exceptional eight metre wide high-grade gold zone. This includes three metres at 29.6 grammes per tonne (g/t) of gold discovered by exploratory trenching on a soil anomaly late last year.
Further drill testing of potential new hidden gold veins is also planned as well as initial trenching on several untested gold-in soil anomalies at Gindusa West covering a 1,500m by 750m area.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
At the Gindusa Main Zone, the company's planned work includes infill and step-out drill testing of the high grade gold vein systems at the Gindusa Mine area aimed at demonstrating the potential for resource delineation.
The company reported that completion of 75% earn-in to Deli Jovan is expected in the second half of 2013.
Meanwhile, at the Mutsk Gold Project Armenia, Orogen Gold reported that scheduled work included a due diligence evaluation programme planned on the joint venture property over a potentially large epithermal gold target.
CEO: Follow-up of high-grade gold discoveries to be 'prioritised'Ed Slowey, Chief Executive Officer of Orogen Gold, commented: "The 2013 work programme represents the next exciting development phase at Deli Jovan. Follow-up of the outstanding recent high grade gold discoveries at Gindusa West will be prioritised.
"A highly-focused drill programme is also planned across the Gindusa Mine area during 2013 to demonstrate continuity of the vein system, with the aim of outlining a mineral resource in the medium term."
"In Armenia, our new Mutsk joint venture property has the potential to be a large epithermal gold system. The initial work programme in the coming season, including a drilling component, will be geared towards confirming that potential.
Orogen Gold's share price was up 2.38% to 0.43p at 09:40 on Wednesday.MF
