Oro Gold Resources Ltd.
TSX VENTURE : OGR

Oro Gold Resources Ltd.

November 02, 2009 08:32 ET

Oro Gold Reports on Its Cimarron Project, Sinaloa, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 2, 2009) - Oro Gold Resources Ltd. (TSX VENTURE:OGR) ("Oro Gold" or the "Company") announces that it has formally notified Mazorro Resources Inc. ("Mazorro") of the termination of the option agreement on the Cimarron property. The Company's wholly owned Cimarron property is located 40 kilometres east of Mazatlan, Mexico on trend with the Historic Rosario multi-million ounce gold-silver mine and is prospective for gold, silver and copper. The Cimarron property is an advanced stage property with resource potential and excellent infrastructure.

During the 2-year option period Mazorro issued 500,000 of their shares to Oro Gold and spent US$935,000 in expenditures at Cimarron. Expenditures included an extensive property scale 326 line-kilometre, 4,373 soil and rock sample survey program, and 2,670 metres of reverse circulation ("RC") and diamond drilling for a total of 15 holes. The RC drill program was designed to target the kilometre-scale gold anomaly at the Calerita prospect, as well as drill-test anomalies identified from the soil geochemical and magnetic surveys.

The drilling confirmed the presence of a significant outcropping gold-bearing zone and expanded the known gold mineralization at depth. The dimensions of the zone are now at least 350 metres by 250 metres at surface and to a depth of approximately 100 metres. The gold zone is open to the south, to the northeast, and at depth. 

Highlights of the drill program include (see press release dated September 4, 2008):

  • CIMRC08-001: 0.6 g/t gold over 84.0 m;
  • CIMRC08-002: 0.9 g/t gold over 90.0 m (including 1.8 g/t gold over 24.0 m);
  • CIMRC08-004: 0.7 g/t gold over 60.0 m; and
  • CIMRC08-006: 0.5 g/t gold over 76.0 m

"The Cimarron property holds promise for near-surface bulk tonnage potential at Calerita and also higher grade gold potential elsewhere on the property which is largely unexplored. We are excited about exploring the resource potential at Calerita and looking at the remaining targets elsewhere on the property," stated Frank Powell, Vice President of Oro Gold.

Oro Gold's experience in the region and its recent discovery at the Trinidad property has greatly increased Oro Gold's understanding of the region and is expected to significantly aid in exploration successes on the Cimarron and surrounding properties. Presently the Company plans to continue exploration on this concession with a goal to identifying a significant economic resource. For more information about the Cimarron exploration project visit Oro Gold's web site at: www.orogoldresources.com.

Oro Gold's future plans at Cimarron are to:

  • conduct an in-house resource estimate;
  • conduct preliminary metallurgical testing;
  • step out drilling;
  • explore other drill targets on the property.

About Oro Gold

Oro Gold is a gold exploration company with 11 projects located in Mexico and Panama. In Mexico the Trinidad project continues to be the Company's main focus of exploration and resource definition efforts. Ongoing generative activity and joint venture partnership will continue to be the fundamental growth strategies of Oro Gold. The Company intends to increase shareholder value through the discovery and definition of low-cost, quality gold resources on its advanced stage properties.

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.

Neither the TSX Venture Exchange nor its Regulations Services Provider accepts responsibility for the adequacy or accuracy of this release.

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