Gold-Ore Resources Ltd.
TSX VENTURE : GOZ

Gold-Ore Resources Ltd.

January 25, 2010 09:30 ET

Gold-Ore Reports Underground Drill Results at Bjorkdal

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 25, 2010) - Gold-Ore Resources Ltd. (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. Drilling continues to increase the dimensions of the orebody and is expanding reserves and resources at the mine faster than they are being depleted.

During 2009 the company drilled a total of 69 diamond drill holes (7,724 metres), including underground, open-pit and surface exploration holes at Ronnberget. The company plans to drill an additional 10,000 metres during 2010. This information will form the basis for a new reserve, resource calculation during 2010. Following are the significant results from the most recent underground holes.

Significant Drill Intersections

Drill Hole Section From (m) To
(m)
Core Interval (m) True Width (m) Gold Grade (g/t)
2009-033 160 West 12.7 16.0 3.3 3.2 25.00
  including 15.0 16.0 1.0 1.0 76.20
    50.0 53.0 3.0 2.9 7.84
    100.0 105.2 5.2 5.0 6.02
2009-034 120 West 5.2 6.2 1.0 1.0 108.00
    18.3 20.4 2.1 2.0 3.36
    39.2 41.7 2.5 2.4 3.41
    159.1 160.0 0.9 0.9 16.70
    174.4 177.1 2.7 2.6 6.57
    201.2 203.2 2.0 1.9 2.49
2009-035* 120 East 50.1 52.1 2.0 2.0 3.20
2009-036* 120 East 71.3 73.3 2.0 2.0 5.43
    76.3 80.3 4.0 4.0 3.98
    96.9 99.6 2.7 2.7 21.56
  including 98.8 99.6 0.8 0.8 71.30
    104.4 106.4 2.0 2.0 5.17
    108.3 109.2 0.9 0.9 110.0
2009-037* 120 East 59.4 61.4 2.0 1.9 2.80
    96.1 97.1 1.0 1.0 7.26
    136.4 137.4 1.0 1.0 57.3
             
2009-038* 140 East 60.5 63.4 2.9 2.9 3.56
    98.3 100.2 1.9 1.9 4.07
    136.6 138.6 2.0 2.0 7.24
    149.8 150.8 1.0 1.0 88.3
2009-039* 140 East 48.6 51.6 3.0 2.9 25.97
    63.7 65.7 2.0 1.9 4.09
    140.2 142.2 2.0 1.9 60.23
  including 141.2 142.2 1.0 1.0 119.00
    146.2 148.2 2.0 1.9 7.63
2009-040* 140 East 19.2 24.1 4.9 4.9 2.36
    37.6 41.6 4.0 4.0 3.49
2009-041* 140 East 31.5 33.5 2.0 1.9 51.32
  including 31.5 32.5 1.0 1.0 96.40
2009-042 100 East 167.0 170.0 3.0 3.0 15.21
2009-043 100 East 61.7 64.6 2.9 2.9 8.54
    86.1 88.1 2.0 2.0 3.18

 * denotes drilled from Exploration tunnel

Exploration Drift

During 2009 an exploration drift was driven to give access for drilling on the extension of the orebody towards the north where previous surface drilling returned encouraging results. The diamond drill was placed in the tunnel in late 2009 and seven holes were completed: 2009-035 to 2009-041. These holes all intersected significant gold grades across mineable widths. The rig has been moved and the drift is now being extended with more drilling planned shortly.

These drill results are very significant from a long-term mine life perspective. Increasing the strike length in this part of the deposit provides a large upside in tonnage when factoring in the 40 or 50 known gold-bearing veins in the deposit. Continued success in this extension will significantly increase mine life.

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 10-02

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