Oro Gold Resources Ltd.
TSX VENTURE : OGR

Oro Gold Resources Ltd.

July 14, 2010 08:30 ET

Oro Gold Extends Taunus Gold Zone and Adds Third Drill Rig

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 14, 2010) - Oro Gold Resources Ltd. (the "Company" or "Oro Gold") (TSX VENTURE:OGR) reports assay results in diamond drill holes 46 and 47 which confirm the Taunus mineralized zones extend further to the south. The highest grade interval reported is 4.3 g/t gold over 8 metres near surface in hole 47. The mineralized zones now show continuity approaching more than 600 metres in length and are open-ended. In an effort to improve the drill productivity and core recovery in the high-grade gold zones, the Company is adding a sonic drill rig on its Trinidad project, located near Mazatlan, Mexico.

Oro Gold continues to focus its exploration activity at Taunus with the goal of discovering additional gold ounces and growing the resource base. The ongoing drill program comprises a diamond drill rig, which will be joined by the sonic drill rig at Taunus, both focused on increasing the gold resource base. A third drill rig, the reverse circulation (RC) rig, is being used to test targets outside of Taunus that have additional gold resource potential.

"We continue to create significant value at our Trinidad project, increasing our gold resource base in a cost-effective way," stated Darren Bahrey, President and CEO of Oro Gold. "We look forward to getting the third drill rig turning at the project. This specialized drill rig has the potential to substantially improve the drilling and enable us to advance our project faster to further unlock the value of our high-grade oxide Taunus gold deposit."

Oro Gold is on-track to complete a minimum 10,000 metres of drilling, as part of an updated National Instrument 43-101 compliant resource estimate to be released later this year. The Company is also advancing other targets outside of Taunus that have gold resource potential.

Taunus Drill Results:

Hole 46

  • Intersected a 48 metre wide interval (from 198 to 246 metres) of anomalous pathfinder elements commonly peripheral to gold zones at Taunus, indicating potential nearby.

Hole 47

  • 4.3 g/t gold over 8 metres near surface

Oro Gold is currently drilling step-out hole 50 located 30 metres west of hole 44 with the objective of extending the Taunus mineralized zone to the southwest and testing the deeper breccia zone intersected in hole 44 which returned 0.3 g/t gold over 22 metres.

Hole 49, also a step-out hole located 100 metres north of the pit has been completed down to a depth of 280 metres. The objective of this hole is to extend the Taunus mineralized zones to the north. Assays are pending.

Refer to the longitudinal section and plan map below showing location of the recent holes 46 and 50. Note: Hole 48 is off section to the south and hole 50 is located 30 m west of hole 44.

2010 Objectives:

  • Increase the resource size of the Taunus gold deposit
  • Discover new gold zones in the immediate area of Taunus
  • Discover the source of the high-grade gold zones at Taunus (possible feeders)
  • Make gold discoveries in new areas outside of Taunus that have gold resource potential

Drill Technique & Sampling Bias Discussion

RC drilling is being used to quickly test priority targets. It is considered a cost effective tool to identify sub-surface gold anomalies. Previous comparison of RC versus diamond drilling assay results suggests that RC drilling at the Taunus deposit has a low bias compared to diamond drilling. Numerous documented cases have shown that wet RC drilling can result in washing of fine gold and subsequent underestimation. Diamond core drilling at Taunus is considered to provide more representative results. Gold anomalies identified in RC drilling will be followed by diamond drilling.

Sonic drilling, which applies sonic vibrations to the drill pipe, has the ability to consistently drill and retrieve continuous samples from broken and semi-consolidated material without the use of water or mud. Many types of conventional drilling techniques (which rely on fluid or air circulation) do not efficiently recover soft, unstable, and highly broken material. Sonic drills are a relatively new alternative to drilling rock. Please visit our website for additional information on sonic drilling.

Quality Assurance - Quality Control

Trinidad project exploration is under the direction of Frank Powell, Executive Vice President Oro Gold Resources Ltd. Gary Lustig, P.Geo, a qualified person as designated by National Instrument 43-101, has reviewed and approved the technical content of this release. Thorough quality assurance and quality control program (QA/QC) protocol was utilized on the project including duplicate, blank and standard samples with each batch of assays. The core samples were submitted directly to Inspectorate de Mexico, S.A de C.V. for preparation in Durango, Mexico, with analysis in Reno, Nevada. Analysis was conducted on 1 assay ton samples with over 20% as QA/QC samples. Analysis of gold was by fire assay, with a gravimetric finish on samples exceeding 5 g/t gold.

About Oro Gold

Oro Gold is a publicly-listed gold exploration company with projects located in Mexico and Panama. Oro Gold focuses exploration in under-explored mining camps that have the potential to host multi-million ounce gold deposits. The district-scale Trinidad property continues to be Oro Gold's top priority project and main focus of exploration and resource definition efforts. Oro Gold's mission is to make world class, low-cost gold discoveries.

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 North - South Section Taunus Target map, please click on the following link: http://media3.marketwire.com/docs/osr714ls.JPG

To view the Taunus Target Area map, please click on the following link: http://media3.marketwire.com/docs/ogr714tta.JPG

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

Contact Information