Orogen Gold PLC Diamond Drilling re-commences in Armenia (2987C)

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RNS Number : 2987C

Orogen Gold PLC

15 October 2015

15 October 2015

Orogen Gold plc

("Orogen" or the "Company")

Diamond drilling re-commences at the Mutsk gold project in Armenia

Orogen Gold plc (AIM:ORE), the AIM quoted gold exploration company, announces the mobilisation of a drill rig to re-commence diamond drilling at the Mutsk gold project in Armenia.

Highlights

   --     In-company review identifies Mutsk as an attractive gold target 
   --     Seasonally constrained drill programme put in place to continue assessment 
   --     Programme designed to establish continuity and presence of gold in adjacent discovery areas 

Colin Bird said: "During my initial review of the Orogen portfolio, Mutsk stood out as a project with enormous potential. With the limited time left for drilling this season, we have elected to test drill a number of locations in order to confirm and firm up our thoughts for next year. The Mutsk project to me represents an attractive gold environment with the possibilities of much value add for shareholder benefit."

Approval

Ed Slowey, Operations Director of Orogen, is a Competent Person as defined by various international instruments and takes responsibility for the release of this information.

Enquires:

 
 Orogen Gold plc 
  Colin Bird, CEO                           +353 1662 
  Alan Mooney, FD                            8395 
 Cairn Financial Advisers LLP (Nominated 
  Adviser)                                  +44 (0) 20 
  Avi Robinson/ Liam Murray                  7148 7900 
 Beaufort Securities Limited (Broker)       +44 (0) 20 
  Jon Belliss                                7382 8300 
 Walbrook (Public Relations and Investor 
  Relations) 
  Paul Cornelius / Guy McDougall /          +44 (0) 20 
  Gary Middleton                             7933 8780 
 

About Orogen Gold

Orogen Gold plc is a UK public company quoted on the London Stock Exchange AIM market (ticker: ORE). The Company is focused on mineral exploration and development in Europe and is currently operating two gold exploration projects: a) at Mutsk in Armenia and b) at Deli Jovan in Serbia. The Mutsk gold project in Armenia was optioned by Orogen early in 2013 to follow-up reports of a new epithermal discovery within an established gold district. At Deli Jovan the historic high-grade gold mining camp was last in production prior to World War II and has been significantly under-explored in modern times. The Mutsk project has been prioritised by the Company due to the clear potential evident on the property.

About the Mutsk Project

The Mutsk Project is located in southern Armenia at about 2,000m elevation and is three hours' drive from the capital Yerevan. The site is accessible most of the year other than during the core winter months. Maps showing the location and details of the project are available on the Company's website.

Low sulphidation epithermal-type pyrite-gold mineralisation was discovered by limited drilling in altered and brecciated tuffs, similar in age to those that host the Lydian International high sulphidation Amulsar gold deposit (4.1 million ounces in Measured, Indicated and Inferred Resources) located 30km to the northwest, also in Armenia. Drilling by Orogen in 2014 intersected wide zones of medium to low-grade gold mineralization within a large alteration system.

Orogen has an exclusive agreement with Georaid CJSC to earn an 80% interest in the property by spending a total of US$2.5m by the end of August 2016.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 15, 2015 02:00 ET (06:00 GMT)