Re: News Release - Monday, January 18, 2010
Title: Gold-Ore Reports Underground Drill Results at Bjorkdal
Gold-Ore Resources Ltd. is pleased to report drill results from the on-going underground Diamond drill program at the 100%-owned Bjorkdal Gold Mine in Sweden. Drilling continues to increase the dimensions of the orebody and is expanding reserves and resources at the mine faster than they are being depleted.
During 2009 the company drilled a total of 69 Diamond drill holes (7,724 metres), including underground, open-pit and surface exploration holes at Ronnberget. The company plans to drill an additional 10,000 metres during 2010. This information will form the basis for a new reserve, resource calculation during 2010. Following are the significant results from the most recent underground holes.
Significant Drill Intersections
|
Drill Hole |
Section |
From (m) |
To
(m) |
Core Interval (m) |
True Width (m) |
Gold Grade (g/t) |
|
2009-033 |
160 West |
12.7 |
16.0 |
3.3 |
3.2 |
25.00 |
|
|
including |
15.0 |
16.0 |
1.0 |
1.0 |
76.20 |
|
|
|
50.0 |
53.0 |
3.0 |
2.9 |
7.84 |
|
|
|
100.0 |
105.2 |
5.2 |
5.0 |
6.02 |
|
2009-034 |
120 West |
5.2 |
6.2 |
1.0 |
1.0 |
108.00 |
|
|
|
18.3 |
20.4 |
2.1 |
2.0 |
3.36 |
|
|
|
39.2 |
41.7 |
2.5 |
2.4 |
3.41 |
|
|
|
159.1 |
160.0 |
0.9 |
0.9 |
16.70 |
|
|
|
174.4 |
177.1 |
2.7 |
2.6 |
6.57 |
|
|
|
201.2 |
203.2 |
2.0 |
1.9 |
2.49 |
|
2009-035* |
120 East |
50.1 |
52.1 |
2.0 |
2.0 |
3.20 |
|
2009-036* |
120 East |
71.3 |
73.3 |
2.0 |
2.0 |
5.43 |
|
|
|
76.3 |
80.3 |
4.0 |
4.0 |
3.98 |
|
|
|
96.9 |
99.6 |
2.7 |
2.7 |
21.56 |
|
|
including |
98.8 |
99.6 |
0.8 |
0.8 |
71.30 |
|
|
|
104.4 |
106.4 |
2.0 |
2.0 |
5.17 |
|
|
|
108.3 |
109.2 |
0.9 |
0.9 |
110.0 |
|
2009-037* |
120 East |
59.4 |
61.4 |
2.0 |
1.9 |
2.80 |
|
|
|
96.1 |
97.1 |
1.0 |
1.0 |
7.26 |
|
|
136.4 |
137.4 |
1.0 |
1.0 |
57.3 |
|
|
|
|
|
|
|
|
2009-038* |
140 East |
60.5 |
63.4 |
2.9 |
2.9 |
3.56 |
|
|
|
98.3 |
100.2 |
1.9 |
1.9 |
4.07 |
|
|
|
136.6 |
138.6 |
2.0 |
2.0 |
7.24 |
|
|
149.8 |
150.8 |
1.0 |
1.0 |
88.3 |
|
2009-039* |
140 East |
48.6 |
51.6 |
3.0 |
2.9 |
25.97 |
|
|
|
63.7 |
65.7 |
2.0 |
1.9 |
4.09 |
|
|
|
140.2 |
142.2 |
2.0 |
1.9 |
60.23 |
|
|
including |
141.2 |
142.2 |
1.0 |
1.0 |
119.00 |
|
|
|
146.2 |
148.2 |
2.0 |
1.9 |
7.63 |
|
2009-040* |
140 East |
19.2 |
24.1 |
4.9 |
4.9 |
2.36 |
|
|
|
37.6 |
41.6 |
4.0 |
4.0 |
3.49 |
|
2009-041* |
140 East |
31.5 |
33.5 |
2.0 |
1.9 |
51.32 |
|
|
including |
31.5 |
32.5 |
1.0 |
1.0 |
96.40 |
|
2009-042 |
100 East |
167.0 |
170.0 |
3.0 |
3.0 |
15.21 |
|
2009-043 |
100 East |
61.7 |
64.6 |
2.9 |
2.9 |
8.54 |
|
|
|
86.1 |
88.1 |
2.0 |
2.0 |
3.18 |
* denotes drilled from Exploration tunnelExploration DriftDuring 2009 an exploration drift was driven to give access for drilling on the extension of the orebody towards the north where previous surface drilling returned encouraging results. The
Diamond drill was placed in the tunnel in late 2009 and seven holes were completed: 2009-035 to 2009-041. These holes all intersected significant gold grades across mineable widths. The rig has been moved and the drift is now being extended with more drilling planned shortly.
These drill results are very significant from a long-term mine life perspective. Increasing the strike length in this part of the deposit provides a large upside in tonnage when factoring in the 40 or 50 known gold-bearing veins in the deposit. Continued success in this extension will significantly increase mine life.
Sample Protocol and Chain of CustodyIn order to minimize the effects of the coarse nugget gold at Bjorkdal, the Company has elected to submit 100% of the core for analysis, rather than retaining half of the core for archive. This provides a much larger sample for gold analysis and theoretically a more representative result. The core is logged and photographed, and for the zones sampled, the entire core is shipped to ALS Chemex for gold analysis. A rigorous QA/QC program is employed that involves the insertion of blanks and certified standards.
About Gold-OreGold-Ore Resources is a gold mining and exploration company focused in Sweden. The Company is generating positive cash flow, is debt-free and unhedged, and remains focused on increasing gold production from the 100%-owned Bjorkdal Gold Mine. In addition to Bjorkdal, the Company also has other assets in the country; the Ronnberget Gold Property (adjacent to Bjorkdal) and the Norrliden Polymetallic Deposit.
For more information please contact Glen Dickson, Bob Wasylyshyn or Ron Ewing at (604) 687-8884. Gold-Ore's project information is posted on the Company's web site at
www.goldoreresources.com ON BEHALF OF THE BOARDRobert S. Wasylyshyn, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Copyright � 2010 GOLD ORE RESOURCES LTD. (GOZ) All rights reserved. For more information visit our website at
http://www.goldoreresources.com/ or send email to
info@goldoreresources.com ..
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Gold-Ore Resources Ltd.
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PRODUCER |
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CODE : GOZ.TO |
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ISIN : CA3809811001 |
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Gold-Ore Res. is a gold producing company based in Canada. Gold-Ore Res. develops gold, copper, lead, silver and zinc in Sweden, and holds various exploration projects in Sweden. Its main asset in production is BJÖRKDAL in Sweden, its main asset in development is NORRLIDEN in Sweden and its main exploration properties are VALLBERGET and RONNBERGET in Sweden. Gold-Ore Res. is listed in Canada. Its market capitalisation is CA$ 69.2 millions as of today (US$ 67.3 millions, € 51.1 millions). Its stock quote reached its lowest recent point on November 23, 2001 at CA$ 0.04, and its highest recent level on December 31, 2010 at CA$ 1.14. Gold-Ore Res. has 85 467 000 shares outstanding. |