Oro Gold Resources Ltd.
TSX VENTURE : OGR

Oro Gold Resources Ltd.

November 05, 2007 11:42 ET

Oro Gold Releases Positive Drill Results for Taunus Resource Expansion Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 5, 2007) - Oro Gold Resources Ltd. ("Oro Gold") (TSX VENTURE:OGR) has received assay results for the first two core holes of its multi-phase drill program on the company's 100% owned Trinidad property. The drill program is designed to expand on the company's recently estimated 91,915 oz Inferred mineral resource (1,624,400 tonnes at 1.76 g/t Au) on the Taunus deposit (see Oro Gold's press release dated October 16, 2007).

Highlights:

- 2.19 g/t Au over 11.55 metres in hole 07TR001 confirms the potential for resource expansion at depth, on the northeast side of Taunus pit

- 3.01 g/t Au over 14.05 metres in hole 07TR002 indicates the possibility for resource area expansion near surface, and south of Taunus pit

- Trench results of 0.98 g/t Au over 48.0 metres and 0.98 g/t Au over 42.0 metres - located approximately 200 metres south of 07TR002, a high priority drill target area to be tested for potential resource expansion

Assays from selected intervals are presented in Table 1. Drill holes 07TR001 and 07TR002 were completed outside of the area previously mined by Eldorado Gold Corp., and represent an expansion of the area of known mineralization.

The assay interval of 2.19 g/t Au over 11.55 metres is from 90.85 to 102.4 metres in hole 07TR001, and was drilled approximately 50 meters below and to the east of the abandoned pit. The mineralized interval is described as a quartz-hematite stockwork breccia zone and is interpreted to be a hydrothermal feeder zone to the resource previously exploited in the Taunus pit. Narrow gold-bearing intervals of 5.21 g/t Au over 0.7 metres and 2.82 g/t Au over 0.85 metres were intersected below this zone indicating additional potential at depth.

The assay interval of 3.01 g/t Au over 14.05 metres is from 39.7 to 53.75 metres in hole 07TR002, and was drilled approximately 100 metres south of the Taunus pit. The interval comprises a silicified and hematitic hydrothermal and tectonic breccia, and is visually similar to mineralization exposed at surface in Oro Gold's trench-sample program to the south of this area, that returned up to 48.0 metres of 0.98 g/t Au. This area has not experienced past exploitation. Oro Gold is planning to drill additional holes in this area to expand the resource to the south and at depth.



Table 1. Select assay intervals in holes 07TR001 and 07TR002:

07TR001 (154.35m depth)
Sample From To Length Au
ID (m) (g/t)
4138 88.45 90.00 1.55 0.57
4139 90.00 90.85 0.85 0.18
4140 90.85 91.90 1.05 (i)3.36
4141 91.90 92.90 1.00 2.54
4142 92.90 94.10 1.20 1.54
4143 94.10 95.35 1.25 1.83
4144 95.35 96.75 1.40 1.31
4145 96.75 98.00 1.25 (i)2.67
4146 98.00 99.60 1.60 (i)3.98
4147 99.60 101.20 1.60 1.52
4148 101.20 102.40 1.20 0.98
4172 128.35 129.60 1.25 0.62
4173 129.60 130.75 1.15 0.52
4174 130.75 131.45 0.70 (i)5.21
4183 140.85 141.70 0.85 2.82

07TR002 (60.0m depth)
Sample From To Length Au
ID (m) (g/t)
4227 39.70 41.55 1.85 0.41
4228 41.55 43.05 1.50 0.18
4229 43.05 43.90 0.85 1.34
4230 43.90 45.00 1.10 1.97
4231 45.00 45.60 0.60 1.60
4232 45.60 46.60 1.00 (i)3.77
4233 46.60 47.85 1.25 (i)7.13
4234 47.85 48.45 0.60 (i)8.85
4235 48.45 49.55 1.10 (i)4.32
4236 49.55 50.55 1.00 (i)5.90
4237 50.55 51.85 1.30 (i)4.46
4238 51.85 52.30 0.45 (i)2.74
4241 52.30 53.75 1.45 0.92

(i) Fire Assay gravimetric finish
Note: interval widths may not represent true widths


Oro Gold's Vice President, Frank Powell, comments: "The positive results in our first two holes indicate we are making significant strides in understanding a complex system. Given these results and the additional targets that we have identified in the immediate area, we are likely to increase the current 2,000 metre drill program. This additional drilling should translate into an expansion of Taunus and contribute to successful exploration in the Trinidad district. I am convinced that we are just starting to scratch the surface of a very significant system that has the potential to turn into a gold district over the next few years."

The initial 2,000 metre diamond drill program is anticipated to be completed in November. The company is on-track to complete another resource estimate by the end of the first quarter of 2008 that will incorporate results of the drilling completed this year. Maps and photographs of select drill core for the Taunus project will be made available shortly on the company's new website at www.orogoldresources.com.

Quality assurance/quality control

The 2007 Trinidad drill program and sampling protocol has been under the direction of Frank Powell, Oro Gold's Vice President. A thorough quality control and quality assurance protocol was utilized on the project including blank and standard samples with each batch of assays. Saw-cut half drill core samples were submitted directly to Inspectorate de Mexico, S.A de C.V., for preparation in Durango, Mexico, and analysis in Reno, Nevada. Analysis was conducted on 2 assay ton samples, with one standard, one duplicate and one blank sample inserted in every 30 samples. Analysis of Au was by fire assay, with a gravimetric finish on samples exceeding 3 g/t Au. Marc Jutras, M.A.Sc., P.Eng., a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this release.

Management change

Mr. Eric Grill has resigned as a director and officer of Oro Gold. He will continue as a senior project manager for both Oro Gold and Oro Silver Resources Ltd. Frank Powell has been appointed by the board as Vice President. Mr. Powell will oversee exploration and corporate development activities for the company.

About Oro Gold

Oro Gold is a gold exploration company with 13 projects located in Mexico and Panama, with five of the projects optioned to joint venture partners. The district-scale Trinidad property continues to be the company's top priority project and the main focus of exploration and resource definition efforts. Ongoing generative activity and a joint venture strategy will continue to be a fundamental part of Oro Gold's growth.

ON BEHALF OF THE BOARD OF DIRECTORS

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.

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

Contact Information

  • Oro Gold Resources Ltd.
    Darren Bahrey
    President and CEO
    (604) 646-1580
    (604) 642-2411 (FAX)
    Website: www.orogoldresources.com