Gold-Ore Resources Ltd.
TSX VENTURE : GOZ

Gold-Ore Resources Ltd.

March 28, 2006 09:30 ET

Gold-Ore Resources Ltd.: Bjorkdal Gold Project-Underground Exploration Started

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 28, 2006) - Gold-Ore Resources Ltd. (TSX VENTURE:GOZ) is pleased to announce that a Phase I exploration program on the Bjorkdal Project in northern Sweden is underway. The goal of the program is to expand the measured and indicated resource categories of the deposit and will be followed by a Phase 2 program and a feasibility study for open pit mining. The property is fully permitted for mining, and the on-site plant is producing gold at the rate of 20,000 ounces per year from surface stockpiles. Current in situ measured and indicated gold resources (NI 43-101 compliant) are 2,175,000 tonnes grading 2.53 g/t (176,940 oz) and inferred 7,841,000 tonnes grading 2.53 g/t (637,870 oz). Gold-Ore has an option to purchase 100% interest in the project from Minmet plc of Dublin, Ireland.

An aggressive exploration program has been designed to develop the resources of the northern extension of the orebody mined during the 1980's and 1990's. The gold-bearing quartz vein stockwork is well exposed in the pit walls and historic drill holes clearly demonstrate that the mineralized corridor continues to the north for at least 200 metres where the drilling ends. Historic drilling one kilometre further north of the pit intersected Bjorkdal style gold mineralization. There has been no drilling of the mineralized corridor within this 800 metre gap.

The work commenced last week with the blasting of the first two rounds of a 900 metre tunneling program that will provide access for underground drilling and detailed sampling. The initial cross-cut tunnel has started in the deepest section of the open pit and will advance at an average rate of 7 metres per day. At least three on-vein drives will be turned off at 90 degrees to gain access for an 8,000 metre diamond drill campaign. Drilling is scheduled to start in six weeks.

The 4.5 metre by 5 metre tunnel will provide a 55,000 tonne bulk sample that will be processed in the plant in several lots of at least 6,000 tonnes per campaign. This bulk sample will provide an accurate grade determination that can be reconciled with drilling and underground sampling. The gold produced from the bulk sample will be sold through the Bjorkdal refinery contract, and the revenue from gold sales will be used to offset the cost of the tunnel.

The tunnel will provide access for underground diamond drilling to test an area 400 by 250 by 100 metres. Drill stations will be established on 30 metre spaced sections and each station will be drilled in a radial-fan fashion. The area to be drill-tested contains 27 million tonnes and is large enough to host 500,000 to 1,000,000 ounces of gold.

A comprehensive QA/QC (quality control) analytical program has been implemented and will involve insertion of blanks, standards and duplicates throughout the program. All analytical work will be conducted at the ALS Chemex facility located 80 kilometres from Bjorkdal.

To monitor the weekly progress of the underground program, please visit our web site.

For more information please contact Glen Dickson or Bob Wasylyshyn at (604) 687-8884. Bjorkdal property information is posted on the Company's web site at www.goldoreresources.com. Robert S. Wasylyshyn, P. Geo., is the Company's Qualified Person for the Bjorkdal Project.

ON BEHALF OF THE BOARD

Robert S. Wasylyshyn, President

The TSX Venture Exchange has not viewed 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
    (604) 629-0400 (FAX)
    www.goldoreresources.com