Oro Gold Resources Ltd.
TSX VENTURE : OGR

Oro Gold Resources Ltd.

March 17, 2008 09:30 ET

Oro Gold Drills 78 Metres of 1.45 g/t Gold; Confirms Significant New Gold Zone at Trinidad, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 17, 2008) - Oro Gold Resources Ltd. ("Oro Gold") (TSX VENTURE:OGR) has received encouraging drill results at its 100-per-cent-owned Trinidad property in the state of Sinaloa, Mexico. The latest drill campaign has identified three new gold zones that are anticipated to increase Oro Gold's current gold resource base.

Highlights of drill results:

- 1.45 g/t gold over 78 metres in RC hole 23 (including 2.33 g/t gold over 22 metres and 2.29 g/t gold over 10 metres)

- 1.45 g/t gold over 44 metres in RC hole 30 (including 1.88 g/t gold over 32 metres)

- 1.76 g/t gold over 8 metres and 1.58 g/t gold over 8 metres in RC hole 29

- 5.97 g/t gold over 3.3 metres in core hole TR006

Summary of drill campaign results:

- Significant drill intercepts reported in both the Taunus and Colinas areas, indicating new discoveries as well as the potential to increase the current inferred mineral resource of 91,915 ounces gold (1,624,400 tonnes at 1.76 g/t gold);

- Surface drill intercepts of colluvial and shallow bedrock anomalous gold zones in new areas within 1 kilometre of the Taunus pit;

- Presence of coarse-grained free gold has been detected in panned splits of reverse circulation (RC) drill reject samples. This indicates the potential to improve assay results on a number of reported intervals. An independent consultant has been contracted to determine the recommended sample preparation and analytical procedures to account for the coarse-grained gold;

- A new geologic interpretation based on the drilling and surface mapping suggests that significant gold mineralization may be associated with an extensive conglomerate unit and fault-feeder zones. The new model will be tested in the next drill program, and could significantly increase the upside potential of the discovered gold zones if there is also a horizontal component to the gold mineralization.

The new gold zone that has significant expansion and size potential is located over 200 metres to the northeast of the abandoned pit and current resource model, and is confirmed by RC holes 23, 30, and 25 (previously reported 30.0 metres of 3.3 g/t gold). The zone occurs below areas previously drilled by Eldorado Gold Corp. at a depth between 100 to 200 metres below surface, and also represents oxide mineralization. The dimensions of the zone are at least 150 metres in length by 30 to 60 metres wide, and remain open in all directions. RC hole 29 returned 40 metres of 0.9 g/t gold, including 8 metres of 1.58 g/t gold and 8 metres of 1.76 g/t gold. This interval is approximately 50 metres to the south of the zone reported above and located closer to surface.

The gold-bearing intervals are described as being variably silicified with moderate to strong hematite, specularite, and quartz veinlets, hosted in quartz feldspar porphyry, andesite volcanics, and a conglomerate and/or colluvial breccia unit.

"We are extremely pleased with the results of the drilling to date," commented Frank Powell, Vice President of Oro Gold. "It has been a very successful first round of drilling and has added significant value to our property in a short period of time, both in discovering new ounces and confirming the deposit potential."

Oro Gold is in the process of incorporating the results into its models. The company plans to complete another 5,000 metres of drilling by midyear to follow-up on these results as well as test additional new targets in the Trinidad district.

The table below summarizes the drilling completed by Oro Gold. The location of the drill holes and the targeted zones are shown on the accompanying plan map, and can also be viewed on the company's web site. Assays are pending for the shallow RC holes 13 to 26. Silver assay results are pending for the majority of the drill holes. Based on results obtained to date, the silver values are in the 1 to 10 g/t range for the corresponding anomalous gold intervals.



Table 1. TRINIDAD DRILL RESULTS

Drill Hole Summary
Holes Metres
----- ------
Core 10 1,154
RC 34 6,524
Shallow RC 26 622
---------- ----- ------
Total 70 8,300


Taunus Zone
--------------------------------------------------------------
From To Interval Gold
Hole ID (metres) (metres) (metres) (g/t)
--------------------------------------------------------------
07-TR001(i) 65.50 69.05 3.55 0.47
87.45 103.00 15.55 1.77
including 90.85 101.20 10.35 2.42
including 130.75 131.45 0.70 5.15
140.85 141.70 0.85 2.82
--------------------------------------------------------------
07-TR002(i) 39.70 53.75 14.05 2.94
including 43.05 52.30 9.25 4.21
--------------------------------------------------------------
07-TR003(i) 16.25 19.80 3.55 0.62
28.60 31.40 2.80 1.29
--------------------------------------------------------------
07-TR004(i) 21.60 29.85 8.25 5.22
including 26.10 29.85 3.75 11.03
--------------------------------------------------------------
07-TR005 No Significant Intervals
--------------------------------------------------------------
07-TR006 0.00 13.00 13.00 1.98
including 9.75 13.00 3.25 5.97
including 9.75 11.10 1.35 13.30
--------------------------------------------------------------
07-TR007 No Significant Intervals
--------------------------------------------------------------
07-TR010 77.25 83.25 6.00 0.57
--------------------------------------------------------------
07-TRRC-001 No Significant Intervals
--------------------------------------------------------------
07-TRRC-002 No Significant Intervals
--------------------------------------------------------------
07-TRRC-003 No Significant Intervals
--------------------------------------------------------------
07-TRRC-004 No Significant Intervals
--------------------------------------------------------------
07-TRRC-005 16.00 44.00 28.00 0.70
52.00 68.00 16.00 0.40
--------------------------------------------------------------
07-TRRC-006 62.00 78.00 16.00 0.40
--------------------------------------------------------------
07-TRRC-007 No Significant Intervals
--------------------------------------------------------------
07-TRRC-008 78.00 80.00 2.00 0.90
--------------------------------------------------------------
07-TRRC-009 No Significant Intervals
--------------------------------------------------------------
07-TRRC-010 36.00 42.00 6.00 0.50
180.00 184.00 4.00 0.44
--------------------------------------------------------------
08-TRRC-011 44.00 48.00 4.00 1.05
--------------------------------------------------------------
08-TRRC-012 0.00 8.00 8.00 0.44
126.00 128.00 2.00 1.43
158.00 168.00 10.00 1.37
--------------------------------------------------------------
08-TRRC-013 42.00 50.00 8.00 0.54
128.00 152.00 24.00 0.91
--------------------------------------------------------------
08-TRRC-014 0.00 12.00 12.00 0.84
66.00 70.00 4.00 0.87
180.00 184.00 4.00 0.72
--------------------------------------------------------------
08-TRRC-023 148.00 250.00 102.00 1.19
including 162.00 172.00 10.00 2.29
including 162.00 240.00 78.00 1.45
including 190.00 212.00 22.00 2.33
--------------------------------------------------------------
08-TRRC-024 8.00 14.00 6.00 0.47
70.00 80.00 10.00 1.42
including 70.00 72.00 2.00 5.04
--------------------------------------------------------------
08-TRRC-025(i) 0.00 4.00 4.00 0.51
150.00 180.00 30.00 3.30
including 162.00 170.00 8.00 10.25
--------------------------------------------------------------
08-TRRC-026 6.00 10.00 4.00 0.55
--------------------------------------------------------------
08-TRRC-027 8.00 14.00 6.00 0.56
136.00 140.00 4.00 0.49
--------------------------------------------------------------
08-TRRC-028 78.00 82.00 4.00 0.82
--------------------------------------------------------------
08-TRRC-029 96.00 136.00 40.00 0.89
including 122.00 126.00 4.00 2.35
--------------------------------------------------------------
08-TRRC-030 176.00 220.00 44.00 1.45
including 176.00 208.00 32.00 1.88
including 202.00 208.00 6.00 5.46
--------------------------------------------------------------
08-TRRC-031 No Significant Intervals
--------------------------------------------------------------
08-TRRC-032 No Significant Intervals
--------------------------------------------------------------
08-TRRC-033 No Significant Intervals
--------------------------------------------------------------
08-TRRC-034 No Significant Intervals
--------------------------------------------------------------

Colinas Zone
--------------------------------------------------------------
Hole ID From (m) To (m) Interval (m) Au (g/t)
--------------------------------------------------------------
07-TR008 0.00 13.00 13.00 0.51
including 0.00 5.65 5.65 1.05
--------------------------------------------------------------
07-TR009 0.00 15.70 15.70 0.78
--------------------------------------------------------------
08-TRRC-015 No Significant Intervals
--------------------------------------------------------------
08-TRRC-016(i) 128.00 154.00 26.00 1.14
182.00 196.00 14.00 1.98
--------------------------------------------------------------
08-TRRC-017(i) 102.00 128.00 26.00 1.21
including 122.00 124.00 2.00 5.93
--------------------------------------------------------------
08-TRRC-018 114.00 118.00 4.00 0.64
200.00 206.00 6.00 1.07
--------------------------------------------------------------
08-TRRC-019 8.00 10.00 2.00 0.58
--------------------------------------------------------------
08-TRRC-020 118.0 122.00 4.00 0.60
--------------------------------------------------------------
08-TRRC-021 No Significant Intervals
--------------------------------------------------------------
08-TRRC-022 No Significant Intervals
--------------------------------------------------------------

Surface Colluvial Zones
--------------------------------------------------------------
Hole ID From (m) To (m) Interval (m) Au (g/t)
--------------------------------------------------------------
08-TRRZ-001 No Significant Intervals
--------------------------------------------------------------
08-TRRZ-002 No Significant Intervals
--------------------------------------------------------------
08-TRRZ-003 0.00 10.00 10.00 0.35
--------------------------------------------------------------
08-TRRZ-004 0.00 28.00 28.00 0.37
including 0.00 16.00 16.00 0.48
--------------------------------------------------------------
08-TRRZ-005 0.00 24.00 24.00 0.36
including 16.00 22.00 6.00 0.58
--------------------------------------------------------------
08-TRRZ-006 No Significant Intervals
--------------------------------------------------------------
08-TRRZ-007 No Significant Intervals
--------------------------------------------------------------
08-TRRZ-008 0.00 36.00 36.00 0.32
including 0.00 6.00 6.00 0.99
including 24.00 30.00 6.00 1.85
--------------------------------------------------------------
08-TRRZ-009 18.00 24.00 6.00 0.79
--------------------------------------------------------------
08-TRRZ-010 No Significant Intervals
--------------------------------------------------------------
08-TRRZ-011 0.00 4.00 4.00 0.73
--------------------------------------------------------------
08-TRRZ-012 0.00 22.00 22.00 0.41
including 0.00 6.00 6.00 0.62
--------------------------------------------------------------

(i) Drill intercepts previously reported by Oro Gold for rushed intervals


The 651 km2 Trinidad property was originally staked by Oro Gold and is located in an area of excellent infrastructure, 90 kilometres east of Mazatlan. The property includes the Taunus open-pit gold mine, previously owned by Eldorado Gold Corporation and in production from 1996 to 1998. The expected mine life was 4 years. The mine was shut down in 1998 due to high production costs, ranging from $319 to $372 per ounce gold, and was terminated earlier than planned due to external factors, most notably a heavy downturn in the price of gold. As a marginal deposit in a weakening commodities market, its true potential was never explored. Today's gold price of over $1,000 per ounce changes how a project with this potential should be approached.

The 2008 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. RC chip 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 every 30 samples. Analysis of gold 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.

About Oro Gold

Oro Gold is a gold exploration company with 12 properties located in Mexico and Panama, with 5 of the properties 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. The company's mission is to build shareholder value by making discoveries and developing low-cost gold resources through early and advanced stage exploration.

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.

To view the accompanying plan map please click on the following link: http://media3.marketwire.com/docs/ogrmap317.pdf.

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