SOURCE: Oriental Minerals Inc.

December 07, 2006 08:30 ET

Oriental Minerals Drill Update at the Sangdong Mine in South Korea

VANCOUVER, BC -- (MARKET WIRE) -- December 7, 2006 -- Oriental Minerals Inc. (TSX-V: OTL) is pleased to provide the following update on the deep drill hole SD-01 at the Sangdong tungsten-molybdenum mine in South Korea.

Hole SD-01 is currently at 193.0 metres last night. The drill had encountered old mine workings but cement grouting has been successfully completed, enabling drilling to resume later today.

* Interval from 0 to 157 metres: Pungchon Limestone. Traces of malachite and rare chalcopyrite were noted at 16-18m and 56-68m. A sericite altered fault zone is present at 55-56m. Hydrothermal calcite veins accompanied by hematite alteration are observed at 76-77.5 and 124-144m.

* Interval from 157 to 174 metres: Basal sedimentary breccia of the Pungchon Limestone. Hematite alteration with hydrothermal carbonate veinlets are observed in the interval. Base of oxidation is located at 174m.

* Interval from 174 to 182 metres: Myobong Slate with 5% quartz vein stockworks. Dark green slate, altered to skarn, with traces of molybdenite, scheelite and disseminated pyrite.

* Interval from 182 to 192 metres: Myobong Slate with 10% quartz vein stockworks. Dark green slate, altered to skarn, with significant molybdenite as both vein infill and disseminated mineralization, together with minor scheelite.

* Interval from 192 to 193 metres: Cut and fill stope of old mine workings (probably Main Vein workings, which recorded most of the historic tungsten production).

Results from this drill hole will be released as soon as received and will be utilized for the on-going technical report being authored by Watts, Griffis and McOuat Limited. Core photos showing Myobong Slate altered to skarn and mineralised with quartz-molybdenite vein stockworks are being posted on Oriental Minerals' website at www.orientalminerals.com.

Stockpile Sampling at Sangdong

Sampling of the 6 surface mine dumps at Sangdong has been completed. Three of the dumps show good ultra-violet lamp fluorescence response for scheelite, together with quartz-molybdenite vein stockworks in Myobong Slate. Another dump contains material rejected from previous mining from 2 adits comprising Jangsan Quartzite with quartz-molybdenite vein stockworks accompanied by wolframite-scheelite. Results from this sampling will help Oriental determine the viability of processing these stockpiles before the main mine is re-opened (assuming positive economic studies are completed in the future).

Sangdong Extension

Mapping and rock chip sampling have identified molybdenum mineralization exposed at surface, more than 1 kilometre away from the Deep Mo deposit which drill hole SD-01 is testing. This has significant implications for the potential to expand the existing historical molybdenum deposit. Both bedding concordant and sub vertical quartz-molybdenite vein stockworks in the upper 50 metres of the Jangsan Quartzite have been noted, immediately below a massive hornblendite horizon which forms the contact with the Myobong Slate.

QUALIFIED PERSON

The qualified person for the purposes of this release is Mr. Mark Dugmore.

About Oriental Minerals Inc.

Oriental Minerals is a Canadian based exploration company exploring for world-class mineral deposits in South Korea. The Company's current projects include tungsten-molybdenum, base metals and gold-silver properties with significant known mineralization and excellent regional potential.

South Korea is an independent country with strong ties to the USA and a key trading partner with Canada and Australia. The country has an excellent infrastructure, established and workable Mining Laws, and available trained mining workforce.

These factors, combined with an in-country bilingual team, assist OTL in capturing a first-class, country-wide diversified minerals portfolio.

On behalf of the Board of Directors,
Damien Reynolds
Director and Co-Chairman
www.orientalminerals.com
Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Such statements are based on numerous assumptions and are subject to all the risks and uncertainties inherent in the Company's business, including risks related to mineral exploration and development. Consequently, actual results may vary materially from those described in the forward-looking statements.

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

Contact Information

  • Contact:
    Investor Relations
    Anna Dalaire
    (604) 681-5755 x234