Gold-Ore Resources Ltd.
TSX VENTURE : GOZ

Gold-Ore Resources Ltd.

November 09, 2009 09:00 ET

Gold-Ore Reports Underground Drill Results & Future Drill Plans at Bjorkdal

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 9, 2009) - Gold-Ore Resources Ltd. (the "Company") (TSX VENTURE:GOZ) is pleased to report drill results from the on-going underground diamond drill program at the 100%-owned Bjorkdal Gold Mine in Sweden. The drilling has been very successful at expanding the size of the orebody and the deposit remains open to expansion in all directions. Management is confident that drilling at the mine is extending mine life by more than adequately replacing mined ounces with new ounces.

Gold-Ore President, Bob Wasylyshyn, commented, "Recent drilling continues to expand the orebody and has a significant and positive impact on mine life, thereby increasing the Net Asset Value of the mine and the Company. This coupled with more stable gold production through an improved mine plan provides an exceptional opportunity for growth in the Company."

Reserve, Resource Expansion
The Company recently released a reserve/resource statement (see NR dated October, 28, 2009) that was based on historic drilling and all drilling conducted during 2006 to 2008, but excluded all 2009 drilling. During 2009 a total of 36 core holes (4,700 metres) were drilled from the underground workings and 91% of the holes have intersected quartz veins with mineable gold grades and widths. These results have successfully expanded the known reserve/resource at Bjorkdal.

Exploration Drift
During July an exploration tunnel was started and driven to explore the extension of the orebody towards the north. This area has been tested by only a few surface holes with very encouraging results. The tunnel is now 90% complete and the diamond drill was positioned in it 10 days ago. Two holes have been completed and both intersected numerous quartz veins, many mineralized with visible gold.

The current mine plan at Bjorkdal involves mining over 40 gold-bearing quartz veins across a footprint width of 1,200 metres. Drilling from the exploration drift is successfully extending that footprint along strike and the tonnage potential is significant when multiplied across the 40 known veins. The drill will complete six to ten holes in the tunnel and will then be moved so that the tunnel can be extended providing further drill access.

Significant Drill Intersections

Drill HoleSectionFrom (m)To (m)Core Interval (m)True Width (m)Gold Grade (g/t)
2009-0160 East8.712.63.93.93.86
2009-01740 West0.02.32.32.014.26
  8.010.82.82.53.50
  91.094.03.02.64.19
  225.3227.42.11.94.24
2009-01880 West37.840.12.32.07.52
  118.0121.03.02.72.69
  139.0141.92.92.63.89
2009-019220 West28.131.13.02.82.86
2009-020220 West59.062.83.83.33.80
 including59.960.80.90.875.50
2009-021220 West30.034.94.94.912.19
2009-022180 West29.632.52.92.66.42
2009-023160 West3.05.02.02.08.31
  13.316.02.72.75.80
2009-024140 West8.011.03.02.73.23
2009-025140 West36.042.06.05.88.59
  54.958.13.23.13.30
  90.093.03.02.96.44
2009-02660 West90.092.12.12.18.46
2009-02720 West22.524.52.02.09.22
  64.066.02.02.09.92
2009-02820 WestHole lost and not sampled
2009-02920 EastNo significant values
2009-03040 EastNo significant values
2009-03145 East8.210.22.02.010.79
  35.437.82.42.42.48
2009-03260 East37.139.82.72.79.52

The Company only releases drill intersections deemed to be significant. If a drill hole cuts mineralization with gold values greater than 2.5 g/t across a true width of approximately 2.0 metres or more, it is released. This criterion is based on the mining methods employed at Bjorkdal where mining widths vary from 2.5 meters to 5.0 metres. The multiple intersections in many of the holes reflect different veins within the vein swarm.

Sample Protocol and Chain of Custody
In order to minimize the effects of the coarse nugget gold at Bjorkdal, the Company has elected to submit 100% of the core for analysis, rather than retaining half of the core for archive. This provides a much larger sample for gold analysis and theoretically a more representative result. The core is logged and photographed, and for the zones sampled, the entire core is shipped to ALS Chemex for gold analysis. A rigorous QA/QC program is employed that involves the insertion of blanks and certified standards.

About Gold-Ore

Gold-Ore Resources is a gold mining and exploration company focused in Sweden. The Company is generating positive cash flow, is debt-free and unhedged, and remains focused on increasing gold production from the 100%-owned Bjorkdal Gold Mine. In addition to Bjorkdal, the Company also has other assets in the country; the Ronnberget Gold Property (adjacent to Bjorkdal) and the Norrliden Polymetallic Deposit.

Gold-Ore's project information is posted on the Company's web site at www.goldoreresources.com.

ON BEHALF OF THE BOARD

Robert S. Wasylyshyn, President

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

News Release 09-16

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Gold-Ore Resources Ltd.
    Glen Dickson
    (604) 687-8884
    or
    Gold-Ore Resources Ltd.
    Bob Wasylyshyn
    (604) 687-8884
    or
    Gold-Ore Resources Ltd.
    Ron Ewing
    (604) 687-8884
    (604) 629-0400 (FAX)
    www.goldoreresources.com