Oro Mining Ltd.
TSX VENTURE : OGR

Oro Mining Ltd.

May 18, 2011 10:43 ET

Oro Mining Drills 54 Metres of 2.24 g/t Gold, Including 21 Metres of 5.0 g/t Gold, at Taunus Project, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 18, 2011) -Oro Mining Ltd. ("Oro Mining" or the "Company"), (TSX VENTURE:OGR) continues to generate positive drill results on its Taunus Project, highlights are as follows:

  • Drill hole SN14 intersected 54.3 metres of 2.24 g/t, expanding the gold mineralization 30 metres to the south of SN13 (167 metres of 2 g/t gold, previously announced on May 5, 2011).
  • The recent drill results indicate a mineralized connection between the Eldorado and HS zones (see cross section).
  • High grade gold mineralization (greater than 5 g/t) continues to be intersected at a relatively shallow depth below the pit floor in an area between the Eldorado and HS zones, which was not previously modeled or estimated in the Taunus resource block model. This resource will be updated following the completion of the 5,000m sonic drill program.
  • The objectives of the sonic drill program are to increase the Taunus resource base by: 1) increasing the gold grade of the Eldorado and HS zones; and 2) drilling untested areas below the Eldorado zone targeting potential high-grade gold feeders, as well as offsets and extensions to the zones. Results of the sonic drilling to date are showing that both objectives are likely to be achieved in this drill campaign.
  • The current sonic drill program, which has proven to be the only effective method of returning a good core recovery from the Taunus deposit, continues to identify previously unidentified mineralization which was historically untested prior to the dewatering of the pit. We have completed 1,850 metres in 14 sonic holes of the current drill program and anticipate that this stage of drilling should be complete by the end of August.

Sonic Drill Results

SN14 intersected 54.3 metres of 2.24 g/t gold (from a down hole depth of 38.1 to 92.4 metres), including 5.0 g/t gold over 20.9 metres, extending the mineralization discovered in SN13 by 30 metres to the south. The high grade zone in this hole correlates with the interval in SN13 that returned 7 g/t gold over 29 metres. The true width of this near vertical zone is estimated to be 20 to 30 metres, can be traced over a vertical distance of 180 metres, and is open at depth. In addition, this intersection correlates well with the high grade intercept of 11.9 g/t gold over 41 metres in diamond hole 41, located 12 metres to the south and approximately 40 metres down dip. This intercept in hole 41 is the highest grade drill interval discovered at Taunus to date and includes 27.7 g/t gold over 16.5 metres (press release March 3, 2010).

The combined results of these three holes are considered to be very significant since they are providing good evidence for the existence of a previously unrecognized vertical component to the gold system at Taunus. The combination of vertical controls, shallow high gold grade zones, and gold mineralization in areas previously not modeled or estimated are supportive of a potential increase in resources at the Taunus deposit.

Select gold assay composite intervals for SN14:

Sonic
Hole
From
(m)
To
(m)
Interval
(m)
Gold Grade
(g/t)
SN142.07.35.30.97
38.192.454.32.24
Including70.391.220.95.04
122.9128.25.31.24
Note: the reported intervals are a down-hole length, and may not represent a true width.

The Taunus gold deposit is interpreted to be a gold-rich epithermal system located in a dilatational jog which has formed a local pull-apart basin. The general shape of the gold-bearing zones is analogous to a vertical funnel or pipe-like geometry, with low angle portions of the system branching off. Gold is hosted in unconsolidated, clay-rich, oxide breccias with clasts that display silicification, interpreted as epithermal vein-related alteration. Overall, in the portions of the deposit drilled to date, the silica content is low and the oxidation is deep exceeding depths greater than 200m.

Section and plan views of the current interpretation of the gold mineralization can be referenced on the Company's web site: Trinidad Gold Project - Oro Mining, http://www.oromining.com/section.asp?pageid=15020, also showing the sonic drill results relative to the latest resource model estimate based only on reverse circulation (RC) and diamond drill results.

Quality Control

Oro Mining maintains a strict quality control program. All samples generated by Oro Mining were submitted directly to Inspectorate, an ISO 9001-2008-certified assay laboratory, for preparation in Durango, Mexico, and analysis in Reno, NV. All sonic drill samples submitted for analysis were from splits of quarter-sawn frozen core. Analysis was conducted on one-assay-tonne samples for gold, with a standard, blank and duplicate inserted for every 20 samples submitted. Analysis of gold was by fire assay with AAS finish, and with gravimetric finish on samples exceeding five g/t gold. Y. (Gary) Wong, P.Eng. is a qualified person as defined by National Instrument 43-101 and has reviewed the content of this press release.

About Oro Mining

Oro Mining is a publicly-listed company on the TSX Venture Exchange with properties located in Sinaloa and Zacatecas, Mexico. Oro Mining's corporate mandate is to advance its projects toward production, while continuing to make exploration discoveries on its extensive property position. The district-scale Trinidad property that hosts the Taunus gold deposit continues to be the focus of Oro Mining's exploration and project development activities. The Company's mission is to create exceptional value for our shareholders through exploration discovery, resource growth, mine development and production, while providing sustainable benefits to our staff, the environment, and the communities where we operate.

ON BEHALF OF THE BOARD OF DIRECTORS

John Brownlie, Chief Executive Officer

Some statements in this release may contain forward-looking information. These statements include, but are not limited to, statements with respect to future drilling, exploration, development and production activities. 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.

Note: To view the maps associated with this release, please click the following link: http://media3.marketwire.com/docs/ogr0518.pdf

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Oro Mining Ltd.
    John Brownlie
    Chief Executive Officer
    604 646-1580
    604 642-2411 (FAX)
    www.oromining.com