Gold-Ore Resources Ltd.

Gold-Ore Resources Ltd.

November 21, 2005 09:30 ET

Gold-Ore Resources Ltd.: Resources at Bjorkdal Gold Mine

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 21, 2005) - Gold-Ore Resources Ltd. (the "Company") (TSX VENTURE:GOZ) is pleased to announce the results of recently completed resource estimations for the Bjorkdal Gold Mine (Bjorkdal), Sweden. The Company is proceeding with an exclusive option agreement with Minmet plc that gives Gold-Ore the right for two years to purchase 100% interest in Bjorkdal. The Company will execute an aggressive exploration campaign during this period.

Bjorkdal Gold Mine Resources - November 2005 (1.0 g/t cutoff)
Resource Category Tonnes Gold Grade (g/t) Ounces Gold
Measured and indicated 2,175,000 2.53 176,940
Inferred 7,841,000 2.53 637,870

The independent resource estimations were completed by Wardell Armstrong International Limited ("WAI") in November 2005. A specific breakdown of measured indicated and inferred mineral resources for applied cutoff gold grades are provided below.

Bjorkdal Gold Mine Resource Evaluation(i)- November 2005

Cutoff Gold Resource Grade Ounces
Grade (g/t) Category Tonnes (g/t) Gold
0.5 Measured 716,000 1.89 43,513
Indicated 3,064,000 1.74 171,426
Inferred 14,478,000 1.70 791,402
1.0 Measured 422,000 2.70 36,637
Indicated 1,753,000 2.49 140,353
Inferred 7,841,000 2.53 637,869
3.5 Measured 91,000 5.37 15,713
Indicated 295,000 4.92 46,669
Inferred 1,419,000 5.41 246,842
(i) Open Pit Parameters - 2.5 metre Selectivity

Resource estimates were prepared in conformance with the requirements set out in National Instrument 43-101 under the direction of qualified person Dr. Phil Newall, BSc, PhD, FIMMM, CEng of WAI. The three-dimensional block model was established by Multiple Indicator Kriging methods with Datamine software. Grade capping strategies were developed and applied. Data from a total of 1,105 drill holes was used to estimate the resource including 335 percussion holes, 101 diamond drill holes and 669 reverse circulation holes. A NI 43-101 technical report will be compiled by WAI and filed on SEDAR and the Company's website within 30 days of this news release.

Mineral resources which are not mineral reserves do not have demonstrated economic viability. The Bjorkdal Property is fully permitted with a modern operating mill. There are no known issues that materially affect the estimations of the mineral resources.

Gold-Ore's management believes this to be an excellent opportunity to acquire an advanced stage project that has an efficiently operating mill and significant resources. Detailed exploration plans and budgets are being finalized.

Bjorkdal property information will continue to be posted on the Company's web site at Robert S. Wasylyshyn, P. Geo. is the Company's Qualified Person for the Bjorkdal Project.


Glen Dickson, Chairman

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
    Gold-Ore Resources Ltd.
    Bob Wasylyshyn
    (604) 687-8884
    (604) 629-0400 (FAX)