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Oropa Ltd

Publié le 27 mai 2008

49% Increase in Sihayo 1 North Gold Resources. Total Pungkut Resources Top 1 Million Ounces

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Oropa Limited (ASX: ORP)

 

ASX RELEASE                                        27 MAY 2008

 

49% INCREASE IN SIHAYO 1 NORTH GOLD resource.

TOTAL PUNGKUT RESOURCES TOP 1 million ounces

 

 

 

Highlights

 

        Independent resource estimate for Sihayo 1 North increased by 49%.

        Inferred resource base now 12.1mt @ 2.4g/t Au for 910,000 ounces of gold.

        Combined Inferred resource at Sihayo 1 North and Sambung gold deposits now stands at 1.01 million ounces of gold.  

        Sihayo 1 North resource remains open along north western margin.

        Scoping Study to immediately commence for Pungkut mining development.

        Drilling planned at both Sihayo 1 North and Hutabargot Julu to further extend resource base.

 

The Directors of Oropa Limited are pleased to announce the completion of an independent JORC Code compliant inferred resource estimate for the Sihayo 1 North deposit, part of the Company�s 75% owned Pungkut Gold Project in North Sumatra, Indonesia, of 12.1 million tonnes grading 2.4g/t gold for 910,000 ounces of contained gold � representing a 49% increase in gold resources.

 

Sihaho 1 North Project:

 

Cut-off Grade

Tonnes

Grade

Contained Gold

 

Millions

g/t, Au

Millions, ozs

 

 

 

 

+1.0 g/t

12.1

2.4

0.91

 

The resource at Sihayo 1 North remains open along the north western margin, and the Company plans to undertake additional drilling to target possible extensions to the resource. Oropa will also embark upon an infill drilling program to increase resource confidence to at least an Indicated status as preparatory work continues towards a Bankable Feasibility Study.

 

Combined with the previous Sambung Resource estimate, total Sihayo 1 North/Sambung Inferred Resources now stand at 1.01 million ounces of gold.

 

Table 1: Oropa Sihayo 1 North and Sambung Resources

 

 

Project

 

Million tonnes

 

Grade

g/t gold

 

Contained Gold

Million ounces

 

Sihayo 1 North

 

12.1

 

2.4

 

0.91

(+1.0 g/t cut-off grade)

 

 

 

 

 

Sambung

 

1.1

 

2.6

 

0.10

(+1.5 g/t cut-off grade)

 

 

 

 

 

 

 

 

Combined Inferred Resource

 

13.2

2.4

1.01

 

 

Oropa will immediately embark on a Scoping Study for the combined Sihayo 1 North and Sambung deposits, and will engage the services of an independent engineering consultancy group to conduct that study.

 

The Company also intends to conduct further fieldwork at Hutabargot Julu, located 5.5km southeast of the Sihayo 1 North resource, in the coming months to undertake additional, more intensive drilling at this epithermal vein system after the recent intersection of 5m at 35.67g/t at a depth of 47m from surface. While the planned Scoping Study will focus solely on the Sihayo 1 North and Sambung deposits, it is intended that any future success and resource estimate at Hutabargot Julu would be incorporated into any final mining plan for the area.

 

Details of independent resource estimates:

 

Sihayo 1 North - May 2008 ordinary kriged estimation completed by Mining Assets P/L for the purpose of a preliminary scoping study. The estimate is based on data from 81 diamond drill holes spaced 100m by 100m in the northern and central domains and 50m by 50m in the southern domains. Wireframes are based on a nominal cut-off of 2m at 0.5g/t grade and were guided by geological interpretations. Samples were composited to 2.5m and no top cut was applied.  Estimations were completed using Surpac block models with parent blocks 50m (N) by 50m (E) by 5m (RL) and sub-blocked to 12.5m (N), 12.5m (E) and 1.25m (RL). The ordinary kriged estimate was completed in 2 runs: Run 1 parameters - hard boundaries for all objects,  200m search radius for major axis, min samples = 3, max samples = 8; Run 2 parameters - hard boundaries for all objects,  400m search radius for major axis, min samples = 2, max samples = 8. Bulk density for mineralised material was 2.49t/m3.

 

 Sambung - January 2007 ordinary kriged estimation completed by Mining Assets P/L for the purpose of a preliminary scoping study. The estimate is based on data from 74 diamond drill holes with a maximum drill density of 50m (E-W) by 25m (N-S).  Wireframes were based on a nominal cut-off of 2m at 0.5g/t grade and were guided by geological interpretations. Samples were composited to 1.0m and top cuts of 8g/t and 15.5g/t applied to the various domains.  Estimation was completed using Surpac block models with parent blocks 25m (N) by 50m (E) by 5m (RL) and sub-blocked to 12.5m (N), 25m (E) and 2.5m (RL). The ordinary kriged estimate was completed in a single run using the following parameters: hard boundaries for all objects,150m search radius for major axis, min samples = 5, max samples = 10. Bulk density of mineralised material is 2.5t/m3.

 

Yours faithfully

OROPA LIMITED

 

 

Philip C Christie

Director

 

Note 1:    The information in this report that relates to exploration results, geochemical data base, quality assurance/quality control and geological interpretation of the Sihayo 1 North and Sambung Mineral Resource is based on information compiled by Mr Dean Pluckhahn, who is a Member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Mr Pluckhahn is employed by Oropa Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the �Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves�. Mr Pluckhahn consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

 

Note 2:    The information in this report that relates to the estimation of Sihayo 1 North and Sambung Mineral Resource is based on information compiled by Mr Clay Gordon, who is a Member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Mr Gordon is employed by Mining Assets Pty Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the �Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves�. Mr Gordon consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Note3:     All statements in this report, other than statements of historical facts that address future timings, activities, events and developments that the Company expects, are forward looking statements.  Although Oropa Ltd, its subsidiaries, officers and consultants believe the expectations expressed in such forward looking statements are based on reasonable expectations, investors are cautioned that such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward looking statements.  Factors that could cause actual results to differ materially from forward looking statements include, amongst other things commodity prices, continued availability of capital and financing, timing and receipt of environmental and other regulatory approvals, and general economic, market or business conditions.

 

 

 

READ CORPORATE
Public Relations Corporate Communications
T: (+61-8) 9388-1474 | F: (+61-8) 9388-1472 | E: info@readcorporate.com.au | Web: www.readcorporate.com.au 

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Oropa Ltd

CODE : ORP.AX
ISIN : AU000000ORP6
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Oropa est une société d’exploration minière d'or basée en Australie.

Oropa détient divers projets d'exploration en Australie et en Indonesie.

Ses principaux projets en exploration sont BULLFINCH NORTH PROJECT en Australie et PUNGKUT en Indonesie.

Oropa est cotée en Australie et en Allemagne. Sa capitalisation boursière aujourd'hui est 36,0 millions AU$ (23,8 millions US$, 22,0 millions €).

La valeur de son action a atteint son plus haut niveau récent le 12 janvier 2001 à 7,50 AU$, et son plus bas niveau récent le 24 décembre 2008 à 0,01 AU$.

Oropa possède 371 130 704 actions en circulation.

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Projets de Oropa Ltd
15/01/2009(Pungkut)Granted Exploration Extension Pungkut Project
27/11/2008(Pungkut)Positive Scoping Study Results - Pungkut Gold Project
24/09/2008(Pungkut)Pungkut Gold Project Update
06/08/2008Drilling Re-Commences at Hutabargot Julu Targeting New High-...
15/05/2008(Pungkut)Bonanza Gold Grades From Ali Vein Hutabargot Julu Prospect
26/03/2008(Pungkut) Drilling at Hutabargot Julu Gold Prospect Confirms Potentia...
30/01/2008(Pungkut)FURTHER SIGNIFICANT GOLD HITS CONCLUDE WEST EXTENSION DRILLI...
Communiqués de Presse de Oropa Ltd
27/11/2008Company Announcement - 27 November 2008
08/09/2008Significant Gold Intersections Returned from the Old Camp Ar...
08/09/2008Company Announcement - 8th September 2008 - Significant Gold...
06/08/2008Company Announcement 6 August 2008 Drilling Re-Commences at ...
31/07/2008June Quarterly Report
27/05/2008Company Announcement - 27 May 2008
27/05/200849% Increase in Sihayo 1 North Gold Resources. Total Pungkut...
19/05/2008Detailed Sampling Results from Geochemical Sampling Programs...
12/05/2008Company Announcement - Release to Market 12 May 2008
12/05/2008- Encouraging Results from Initial Sampling Programs in Mala...
30/04/2008Quarterly Activities Report
14/03/2008Raises Additional Funds to Advance International Gold Projec...
14/03/2008RAISES ADDITIONAL FUNDS TO ADVANCE INTERNATIONAL GOLD PROJEC...
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