Orsu completes 6,334m infill diamond drilling at the Taldybulak copper-gold project, north west Kyrgyzstan
Orsu Metals Corporation (�Orsu�, or the �Company�) (TSX:OSU, AIM:OSU) is pleased to provide an update of on-going work at the Talas copper-gold exploration licence area, north west Kyrgyzstan. Geochemical and geophysical surveying has been completed at all four licences (Taldybulak, Barkol, Kentash and Korgontash) within the Talas licence area.
By the end of November 2008, and prior to the completion of Orsu�s previously announced joint venture agreement with Gold Fields Orogen Holdings BVI Limited (�Gold Fields�), the Company completed a planned programme of 6,334m of infill diamond drilling at the Taldybulak-Talas copper-gold porphyry project. To date 4,434 samples have been delivered for analysis to the Alex Stewart Laboratory in Bishkek, Kyrgyzstan. Orsu has received 3,014 assay results, or 68% of submitted samples.
Drilling results from the Taldybulak Central area reveal the presence of two mineralised porphyries at Taldybulak Central East (discovered in 1978) and Taldybulak Central West (discovered in 2007). These porphyries are separated by the less well mineralised, later-stage magmatic breccias at Taldybulak Central, containing on average a gold content of more than 0.3 g/t Au. A continuous combined zone of significant copper-gold mineralisation hosted in a quartz dacite porphyry with dimensions of 1,000m (strike) by 350m (width) and over 650m (depth, proven by drilling) has now been delineated at Taldybulak Central. Table 1 below shows significant intercepts for the three individual areas of Taldybulak.
Table 1. Significant intersections from Taldybulak infill drilling
On 25 April 2008, a National Instrument 43-101 compliant mineral resource estimate was released for the Taldybulak-Talas copper-gold porphyry project. The mineral resource estimate was calculated at various gold cut-off grades and incorporates all drilling data obtained for the Taldybulak-Talas copper-gold project from drilling programmes completed between 2005 and Q1 2008. At a 0.30 g/t gold cut-off, the Indicated mineral resource is 79Mt @ 0.63 g/t Au and 0.17% Cu with the Inferred mineral resources totalling 163Mt @ 0.58 g/t Au and 0.14% Cu.
Dr Alexander Yakubchuk, Director of Exploration, commented:
�The new drilling results provide us with confidence for upgrading the Taldybulak mineral resource to measured and indicated categories. The 2008 exploration works have revealed Taldybulak�s internal structure, including the two mineralised porphyries: Taldybulak Central West has been identified as primarily a gold mineralised system, while Taldybulak Central East�s mineralisation also exhibits encouraging copper and molybdenum grades. A further drill programme will test the presence in the system of potentially higher copper and gold grades as well as additional resource potential at depth and along strike. After signing the recent exploration joint venture agreement with Gold Fields, I am confident our two companies will be able to fully unlock the value of the Talas group of licences and develop a world-class resource.�
Notes to Editors:
1. For avoidance of confusion:
a. The Taldybulak-Talas copper-gold porphyry is a separate deposit from the Taldybulak Levoberezhny gold deposit previously owned by Central Asia Gold Limited, and
b. The Talas Copper Gold Limited Liability Company, a subsidiary of Orsu, which holds the Taldybulak licence, is a separate company from Talas Gold Mining Company which was the owner of the Jerooy Gold project.
2. Information Concerning Estimates of Indicated and Inferred Resources.
This market announcement also uses the terms 'indicated mineral resources' and 'inferred mineral resources'. Orsu Metals Corporation advises investors that although these terms are recognised and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects). Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, 'inferred mineral resources' have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for a preliminary assessment as defined under National Instrument 43-101. Investors are cautioned not to assume that part or all of an inferred mineral resource exists, or is economically or legally mineable.
3. Resource estimations were carried out by Julian Woodcock and reviewed by Matthew Boyes, minerals resources manager of the Company and a qualified person as defined under National Instrument 43-101. Assays are conducted at the internationally certified Alex Stewart laboratory in Bishkek, Kyrgyzstan. Orsu Metals Corporation operates a stringent QA/QC policy that includes external certified standard samples and blanks in each individual batch sent for analysis. Wardell Armstrong international reviewed methodology and interpolation parameters used in the block model. Further information can be found within the Technical Report on the Exploration Licences Held by Lero Gold Corporation in Kyrgyzstan & Kazakhstan, Central Asia, dated May 2008.
4. Matthew Boyes, BSc, a qualified person for the purposes of the AIM Guidance Note for Mining, Oil & Gas Companies has reviewed the contents of this notification.
5. Gold Fields Orogen Holdings BVI Limited is an indirect wholly-owned subsidiary of Gold Fields Limited.
-------------------------------------------For further information please contact:
, Director of Exploration, Orsu Metals Corporation
Tel: +44 (0) 20 7518 3999Gavin Dallas
, Investor Relations, Orsu Metals Corporation
Tel: +44 (0) 20 7518 3999
, Canaccord Adams Limited
Tel: +44 (0) 20 7050 6500Keith Schaefer
, Vanguard Shareholder Solutions
Tel: + 1 604 608 0824
Toll Free (N. America): 1-866-448-0780
Toll Free (Int'l): 1-888-504-5259www.orsumetals.comOrsu Metals
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