Oro Gold Resources Ltd.
COMPANY DATA | INTRODUCTION
| PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE
| Address: | 1400 - 625 Howe Street Vancouver, B.C. Canada V6C 2T6 |
| Tel No.: | (604) 646-1580 |
| Fax No.: | (604) 642-2411 |
| Web Site: | www.orogoldresources.com |
| Corporate Email: | communications@orogoldresources.com |
| Contact Person: | Darren Bahrey |
| Position: | President & CEO |
| Traded Market: | TSX-V |
| Traded Symbol: | OGR |
| Outstanding Shares: | 25,153,150 |
| 52 Week High: | $ 0.83 |
| 52 Week Low: | $ 0.35 |
| Present Price: | Click Here |
INTRODUCTION
Oro Gold is a gold exploration company with 12 properties located in Mexico and Panama, with five 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. Oro Gold's mission is to build shareholder value by making discoveries and developing low-cost gold resources through early and advanced stage exploration.
PROJECT IN HAND
(A) Property Portfolio - Mexico
|
Project
Name |
Location |
Claim
Size (Ha) |
Highlights |
Status |
|
Trinidad District |
Sinaloa,
Mexico |
65,124 |
43-101 compliant Inferred
resource at Taunus: 4,491,800 tonnes @ 1.39 g/t Au for a total of
200,930 ounces. |
Completed 8,300 m core and RC
drill program to expand and upgrade resource at Taunus, and test
step-out targets. |
|
Cimarron |
Sinaloa,
Mexico |
7,850 |
High grade stream sediment
gold values (>200 ppb to 2,245 ppb Au) returned over a significant
area (20 km2). High grade channel samples: 11 g/t Au over 3 m; grab
samples up to 128.4 g/t Au. |
Optioned to Mazorro Resources
Inc. |
|
San Isidro |
Sinaloa,
Mexico |
6,900 |
Best drill intercept: 10.82
g/t Au over 5.74 m (at surface). |
Completed 1,656 m, 11 core
holes at Main zone. |
|
Ixtapan Gold |
Mexico
State |
4,190 |
Best drill intercept: 0.58
g/t Au over 16.5 m. |
Optioned to Rockgate Capital
Corp. (RGT) |
|
Guasima |
Sinaloa,
Mexico |
11,709 |
Review of geochemical results
show that there is a 8 km2 polymetallic anomaly centered in the
east-central portion of the property. Channel sample returned >100
g/t Ag over 8 m. Mineralization is typical of intermediate sulfidation
veins as exposed in the historic Panuco-Copala camp located to the
north. |
Transferred to Oro Silver
spin-out company. Plan to JV out. |
|
Mihuatlan
Silver Ixtapan Technical Discussion |
Mexico
State |
4,540 |
Mexican government defined a
resource of 225,000 gold equivalent ounces based on drill programs
completed during 1980’s; significant past drill intercepts include
4.39 m of 670 g/t Ag + 1 g/t Au, and 9.6 m of 147 g/t Ag. |
Transferred to Oro Silver
spin-out company. Drill permit and surface
occupation agreements in place. Plan to JV out. |
|
El Habal |
Sinaloa,
Mexico |
3,508 |
Coming Soon |
Coming Soon |
(B) Panama Project
Oro Gold's land package in Panama is comprised of 7 individual properties covering more than 750 sq.km in the Veraguas, Los Santos, Herrera, and Darien provinces. These acquisitions represent an opportunity to pursue quality prospects in under-explored belts. The properties have moderate to excellent access and infrastructure, and are all located outside of indigenous lands, national parks, and tourist development areas. Identified through a systematic review of historical government and private industry data, in conjunction with field investigations as part of the Company's ongoing generative exploration activity, each of the properties host early stage exploration targets with substantial evidence of gold and copper anomalies.
All properties are characterized by highly (gold) anomalous surface geochemistry including both rock and stream sediment samples, and are located in belts that host significant epithermal precious metal and/or gold copper porphyry deposits and occurrences.
Three of the 7 properties (Juan Diaz Norte, Cerro Aguilucho, and Rio Viejo) are located in the Azuero peninsula within a nearly 100 km long, east-west trending belt that is characterized numerous occurrences of high-sulphidation type epithermal gold mineralization, and all are underlain by broad/extensive zones of strong advanced argillic alteration and local silicification which is typical of this mineralization style.
Sona is a porphyry style target underlain by a broad gold-copper soil anomaly.
The Ambroya and Maje prospects are located in eastern Panama. While these properties may be the least
w
ell understood, they host some of the highest surface gold geochemistry in Oro Gold's Panamanian portfolio, and placer gold mining is known to have taken place in multiple areas.
Miguelito is located east of the Petaquilla gold-copper district which is currently subject to significant advanced-stage exploration funded by Teck-Cominco.
MANAGEMENT
Oro Gold Resources Ltd. has a well management team with experience in different areas.
Directors and Officers
Darren Bahrey, President, CEO & Director
Mr. Bahrey has spent over 17 years in the exploration business with junior and major mining companies. Prior to co-founding Oro Gold, he spent years playing key roles within Placer Dome, with a main focus in Latin America, identifying and advancing properties and discovering. He has management experience in generative through to advanced stage exploration (feasibility level), with a focus on negotiations, acquisitions, corporate valuation, strategic planning, and property advancement.
Frank Powell, Vice President
Mr. Powell has over 20 years experience in the exploration industry, the past 17 years have been with Placer Dome where his most recent role was the Exploration Manager for Africa. During his tenure with Placer Dome, Mr. Powell worked in variety of senior positions such as: General Manager of Global Exploration Development, Platinum Exploration Manager, Technical Assistant to the President & CEO, Project Manager (Venezuela, Nevada, South Africa) and Optimization Team Leader (South Africa).
Peter Kendrick, CFO & Director
Mr. Kendrick has 15 years of experience in the mining industry, working in metallurgical engineering, environmental engineering, geophysical engineering, mining engineering and finance. He worked with Placer Dome from 1994 to 1999 where he served in numerous project evaluation and project management type roles on projects throughout the United States, Africa, Russia and Latin America.
Eric Grill, Senior Project Manager
For the past 20 years, Mr. Grill has been in the field providing everything from technical through project management support on numerous grass roots to advanced stage properties located throughout Latin America, Western Canada and Nevada. Most of his time has been devoted to projects run by Placer Dome as well as Francisco Gold and Glamis Gold, which he left to co-found Oro Gold Resources. Fluent in Spanish, much of his time is spent in the field evaluating and negotiating new property acquisitions.
Francisco Vargas, Exploration Manager
Francisco Gonzalez, Operations Manager
Martha Guevara, Controlle
OCT 15, 2008 : News
Update Online
NOV 10, 2008 : News
Update Online
OCT 28, 2008 : News
Update Online
Dec 30, 2008 : News
Update Online
Jan 15, 2009 : News
Update Online
Mar 10, 2009 : News
Update Online
Mar 19, 2009 : News
Update Online
On October 6, 2008, Oro Gold Resources Ltd. provided gold assay results for the recently completed 4,000-metre reverse circulation (RC) and core drill program at its 100%-owned Trinidad property in Mexico. These drill results indicate excellent potential to increase the gold grade and expand the new zone discovered by Oro Gold.
Highlights of the core drill program include:
· 8.50 g/t gold over 61.1 m (including 10.2 g/t gold over 40.1 m) in 08TR012
· 5.29 g/t gold over 23.6 m (including 15.8 g/t gold over 7.3 m) in 08TR013
Highlights of the RC drill program include:
· 1.62 g/t gold over 100.0 m in 08TRRC040
· 5.70 g/t gold over 26.0 m in 08TRRC047B
· 2.51 g/t gold over 18.0 m in 08TRRC037A
On September 4, 2008, Oro Gold Resources Ltd. and Mazorro Resources Inc. released positive results for the first phase of the 2,400-metre reverse circulation (RC) drill campaign completed at the Cimarron property in Mexico.
Highlights of the drill program include:
· CIMRC08-001: 0.6g/t gold over 84 metres;
· CIMRC08-002: 0.9 g/t gold over 90 metres (including 1.8 g/t gold over 24 metres);
· CIMRC08-004: 0.7 g/t gold over 60 metres;
· CIMRC08-006: 0.5 g/t gold over 76 metres.
A diamond core drill rig is currently being mobilized to the property to commence the next round of drilling within a week.
On July 22, 2008, Oro Gold Resources Ltd. announced that it has made a new surface discovery, San Cristobal, at its 100% owned Trinidad property in Sinaloa, Mexico. The new discovery covers a 12 sq.km area consisting of hydrothermal breccias and quartz veining in four target zones located in the south-eastern corner of the Trinidad property.
Highlights of the four zones that represent the San Cristobal prospect are described as follows:
1. La Anona:
· Hydrothermal breccias covering a 400 metre by 200 metre area;
· 14 rock chip samples returned gold assays ranging from 0.4 to 6.4 g/t, with an average of 1.8 g/t.
2. Zone 62:
· Quartz veining zone 20 metres wide, related to the northwest-trending regional structure and mapped over a length of 400 metres and is open along strike;
· Six rock chip samples yielded gold assays ranging from 0.5 to 62.8 g/t, with an uncut average of 13.0 g/t.
3. Agua Buena:
· Hydrothermal breccias and quartz stockwork zone 14 to 56 metres wide by 1.2 km long;
· Eleven rock chip samples returned gold assays ranging from 0.1 to 1.3 g/t, with an average of 0.8 g/t;
· Geological continuity of the zone is over 600 metres and has been confirmed by five trenches spaced 100 metres apart (assays pending);
· Zone appears to be related to the northwest-trending regional scale structure.
4. Santa Ana:
· Quartz stockwork veining zone 60 metres wide and mapped over a length of 400 metres and is open along strike;
· Thirty-five rock chip samples yielded gold assays ranging from 0.1 to 4.4 g/t, with an average of 0.7 g/t.
On July 15, 2008, Oro Gold Resources Ltd. announced that it has commenced an additional 5,000-metre reverse circulation (RC) drill program at its 100% owned Trindad property in Sinaloa, Mexico.
On June 10, 2008, Oro Gold Resources Ltd. announced that it is arranging a non-brokered private placement of up to 3.5 million units (the "Units") at a price of $0.55 per Unit for proceeds of up to $1,925,000, subject to regulatory approval.
Oro Gold intends to use the proceeds of the private placement to further define and expand the current gold resource at its 100%-owned flagship Trinidad property in Mexico, and for other corporate purposes and general working capital.
On June 10, 2008, Oro Gold Resources Ltd. and Mazorro Resources Inc. announced that they have commenced the first phase of a 5,000-metre reverse circulation (RC) drill program at the Cimarron property in Mexico. This program will consist of 2,500 metres of drilling, which will be followed by the second phase in midsummer, once assay results from the first phase have been evaluated. The drill program it designed to target the kilometre-scale gold anomaly at the Calerita prospect, as well as drill test anomalies identified from the recently completed soil geochemical and magnetic surveys.
On May 14, 2008, Oro Gold Resources has acquired a 100% interest in the 80-hectare San Pablo property located approximately 10 km east of past-producing Rosario gold-silver mine in Sinaloa, Mexico. A total of five concessions have been acquired. The acquisition of San Pablo completes the consolidation of a 3,508-hectare El Habal land package, which gives Oro Gold a 100% interest in another prospective area within the Rosario gold belt.
On May 6, 2008, Oro Gold Resources Ltd. And Mazorro Resources Inc. have provided the results of the historic drill and channel sample data on the Cimarron property located in Sinaloa, Mexico, and confirm gold resource potential at Cimarron. Mazorro has the option to acquire from Oro Gold a 60% undivided interest in the Cimarron property by spending US$2.65 million in exploration expenditures by June 30, 2011, and by issuing one million common shares in stages by June 30, 2010.
In the fall of 2007, Mazorro financed a 4,373-sample soil geochemical survey and a magnetic survey covering 326 line kilometres on the Cimarron property. These data are currently being interpreted in preparation for a 5,000-metre reverse circulation (RC) drill program that is planned to commence in June, 2008.
On April 28, 2008, Oro Gold Resources Ltd. announced the appointment of Robert Kendrick to Chairman of the Board. Mr. Kendrick, having been a director of Oro Gold Resources, comes to the position with a base of many years of mining related responsibility including: VP & General Manager of Climax Molybdenum division of Amax Inc., VP of Amax Exploration Inc.; Senior VP of Operations Amax Inc.; President and CEO of Monarch Resources - London-Caracas-Bermuda.
On March 17, 2008, Oro Gold Resources Ltd. announced that it has received encouraging drill results at the Company's 100% owned Trinidad property in 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
On March 3, 2008, Oro Gold Resources Ltd. reported that the assay results indicate a new discovery and confirm the potential to increase the existing inferred mineral resource of 91,915 ounces gold (1,624,400 tonnes at 1.76 g/t gold) at Oro Gold's 100% owned Trinidad property in Sinaloa, Mexico.
Highlights of drill results:
· 3.29 g/t gold over 30 metres in hole 08TRRC025, including 10.25 g/t gold over 8 metres, confirm the potential for significant resource expansion in a previously unexplored area located to the northeast of the Taunus pit.
· 1.10 g/t gold over 22 metres in hole 08TRRC017, 1.14 g/t gold over 26 metres and 1.98 g/t gold over 14 metres in 08TRRC016, indicate a new gold-bearing zone in the Colinas area located approximately 1 km south of the Taunus pit.
· New gold zones are open at depth and along strike.
"These results put Oro Gold firmly on track to achieve one of its objectives this year: to define low-cost gold resources sufficient to attract mid-tier and senior gold producing companies," stated Darren Bahrey, President and CEO.
On February 14, 2008, Oro Gold Resources Ltd. reported that it has successfully completed over 5,000 metres of drilling this past month to complete the first phase drill campaign at its 100% owned Trinidad property in Sinaloa, Mexico. The objective of the program is to increase the inferred mineral resource of 91,915 ounces gold (1,624,400 tonnes at 1.76 g/t gold) by drilling expansion targets at the abandoned Taunus open-pit deposit, as well as to make a discovery of new gold zones within a 1 km radius of the pit.
Highlights of the drill program to date include:
· Expansion of silicic and hematitic alteration zones to the northeast and southwest of the Taunus pit by at least 250 m, and is open along strike and at depth. Within the pit area this alteration is interpreted to be associated with gold-bearing zones.
· Confirmed large km2 potential gold-bearing zones of "colluvial-like" material at surface with variable depths of 2 to 12 m.
· Discovered a new zone at depth in the Colinas target area, located approximately 1 km south of the pit.
A total of 10 core, 34 RC holes, and 27 shallow RC holes testing surficial gold-bearing zones have been completed.