Oro Gold Resources Ltd.

Oro Gold Resources Ltd.

March 03, 2010 10:11 ET

Oro Gold Drills 11.9 g/t Gold Over 41 Metres Increasing Size of High Grade Zone at Trinidad Project, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 3, 2010) - Oro Gold Resources Ltd. ("Oro Gold" or "Company") (TSX VENTURE:OGR) reports assay results from recent drilling on its 100-per-cent-owned Trinidad property near Mazatlan, Sinaloa. Diamond drill hole 41 intersected 11.9 g/t gold over 40.9 metres, including 27.7 g/t gold over 16.5 metres. These results confirm a significant increase in size and geologic continuity of the gold zone over a distance of 500 metres, connecting two zones which were previously modeled separately (HS and Taunus South).

"The location of this hole, with these kinds of results, could not be situated in a better place," commented Frank Powell, VP Exploration of Oro Gold. "Not only does it fill in a big hole in the middle of our model with good grade, it also shows continuity over a considerable distance. In conjunction with our updated geological model, these results continue to advance our Taunus target towards an economically viable, high-grade oxide gold resource."

The revised model has eliminated the inferred complex faulting and has confirmed low-angle control to the gold zones (see the attached updated Long Section).

"The current model indicates a low-angle control near geological contacts, which opens up the potential for stacked, nearly horizontal or tabular gold zones, commented Francisco Vargas, Exploration Manager of Oro Gold. We are anxious to test a number of targets generated from this new model with the RC rig that has just arrived at site."

The Company is currently drilling Hole 43 to test for deeper targets and potential feeders below the HS Zone. A number of other targets in the Taunus and Colinas areas will be tested using a reverse circulation (RC) drill rig. The RC rig will also be used to drill pre-collars for the deeper diamond drill holes to allow for faster completion and lower drilling costs.

Summary of Hole 41:

  • Hole 41 intersected 11.9 g/t gold over 40.9 metres from a down-hole depth of 202 to 243 metres in a hydrothermal breccia which is interpreted to be a low-angle, horizontally controlled unit. The hydrothermal breccia is continuous over a distance of 500 metres extending from the HS Zone to the Taunus South Zone. The high-grade interval includes two core samples over a 4-metre length that show fine, visible gold returning 89.6 g/t and 104.6 g/t gold. Oro Gold is investigating the possibility that these high grade samples may be peripheral to a potential feeder zone (see attached table for individual sample assay results).

Above this high-grade interval there is another lower grade zone that averages 0.4 g/t gold over 34 metres. In addition there are other anomalous gold intervals identified in previous RC drill holes that are being reviewed to include in the updated resource.

The exploration program in 2010 will include a minimum 10,000 metres of drilling to accomplish the following:

  • Discovering new zones in the Taunus area;
  • Expanding the known gold zones, both near surface, and at depth;
  • Deeper drilling to discover the source of the high-grade gold zones at Taunus;
  • Exploring additional targets outside of the Taunus area in the Trinidad district; and
  • Initiating regional exploration on Oro Gold's adjacent gold properties (over 2,000 square-kilometres) located outside of the Trinidad district.

About Taunus
The Taunus gold target area is located on the Trinidad property in an 80 kilometre-long, northwest-trending structural corridor in what the Company references as the Trinidad district. The Taunus gold deposit is interpreted to be hosted in a local pull-apart basin situated in the larger Trinidad district structural corridor. Mineralization at the HS Zone within the Taunus gold target is interpreted to be an oxidized, low-to-intermediate sulphidation, epithermal vein system. The mineralization is characterized by multiphase stockwork veining and hydrothermal brecciation hosted in both clastic, porphyry intrusive and andesitic units. Oro Gold has identified 10 other gold targets within the 650-square-kilometreTrinidad district currently being advanced to a drill stage.

Quality Assurance - Quality Control
The Trinidad project exploration is under the direction of Frank Powell, Executive Vice President Oro Gold Resources Ltd. Gary Lustig, P.Geo., a qualified person as designated by National Instrument 43-101 has reviewed the technical content of this release. Thorough quality assurance and quality control program (QA/QC) protocol was utilized on the project including duplicate, blank and standard samples with each batch of assays. The core samples were submitted directly to Inspectorate de Mexico, S.A. de C.V. for preparation in Durango, Mexico, with analysis in Reno, Nevada. Analysis was conducted on 1 assay ton samples with over 20% as QA/QC samples. Analysis of gold was by fire assay, with a gravimetric finish on samples exceeding 5 g/t gold. The gravimetric assay results were used for the reported composite intervals.

About Oro Gold
Oro Gold is a publicly-listed gold exploration company with projects located in Mexico and Panama. The Company focuses exploration in underexplored mining camps that have the potential to host multi-million ounce gold deposits. The district-scale Trinidad property continues to be the company's top priority project and main focus of exploration and resource definition efforts. Oro Gold's corporate mandate is to maintain low cost in gold resource acquisition and discovery while growing the company's gold assets to attract producing companies.


Darren Bahrey, President and CEO

Some statements in this release may contain forward-looking information. These statements include, but are not limited to, statements with respect to future exploration, development and production activities and future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the time and success of future exploration, development and production activities and the timing and amount of expenditures.

Hole 41 Assay results

From (metres) To (metres) Interval(i) (metres) Grade Au (g/t) Recovery (%)  
168 170 2 0.445 73.33 Anomalous
170 171.2 1.2 0.302 78 Anomalous
171.2 173.2 2 0.77 100 Anomalous
173.2 175 1.8 0.113 100 Anomalous
175 177 2 0.471 100 Anomalous
177 179 2 0.031 100 Anomalous
179 181 2 1.169 96.67 Anomalous
181 183 2 0.092 93.33 Anomalous
183 185 2 0.113 100 Anomalous
185 187 2 0.046 100 Anomalous
187 189 2 0.039 100 Anomalous
190.5 192 1.5 0.082 100 Anomalous
192 194 2 0.022 100 Anomalous
194 196 2 0.94 82.5 Anomalous
196 198 2 2.36 65 Anomalous
198 200 2 0.147 90 Anomalous
200 202 2 0.041 95 Anomalous
202 204 2 0.228 100 Main Zone
204 206 2 0.542 96.67 Main Zone
206 208 2 1.166 78.34 Main Zone
208 210 2 1.633 60 Main Zone
210 211.3 1.3 0.892 96.67 Main Zone
211.3 212.15 0.85 0.991 96.67 Main Zone
212.15 214.15 2 0.234 73 Main Zone
214.15 216.15 2 0.63 56 Main Zone
216.15 218 1.85 0.987 70 Main Zone
218 220 2 2.376 70 Main Zone
220 222 2 0.663 70 Main Zone
222 224 2 2.318 100 Main Zone
224 226 2 89.552 75 Main Zone
226 228 2 104.569 50 Main Zone
228 230 2 3.75 85 Main Zone
230 232 2 8.023 71.67 Main Zone
232 234 2 5.623 58.33 Main Zone
234 235.5 1.5 3.241 58.33 Main Zone
235.5 237 1.5 4.26 58.33 Main Zone
237 238.5 1.5 12.308 86.67 Main Zone
238.5 239.65 1.15 0.07 86.67 Main Zone
239.65 240.85 1.2 1.539 96 Main Zone
240.85 242.85 2 3.52 100 Main Zone

(i) The core length represents downhole and is not true width

To view the maps accompanying this press release please click on the following link: http://media3.marketwire.com/docs/OCG0303.pdf

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