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Orogen Confirms New Gold Discovery At Mutsk, Armenia

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  • Orogen Confirms New Gold Discovery At Mutsk, Armenia

    OROGEN CONFIRMS NEW GOLD DISCOVERY AT MUTSK, ARMENIA

    http://armenpress.am/eng/news/731118/orogen-confirms-new-gold-discovery-at-mutsk-armenia.html
    15:34, 30 August, 2013

    YEREVAN, AUGUST 30, ARMENPRESS: Orogen Gold has confirmed a new gold
    discovery at Mutsk, Armenia, following assay results that revealed
    substantially higher gold grades than previously reported, reports
    Armenpress referring to StockMarketWire.com.

    "These results confirm Mutsk as an exciting new gold discovery at
    shallow depths within an established epithermal district," said CEO
    Ed Slowey in a statement.

    "Assays from the Orogen confirmatory holes at Mutsk, as well as
    re-assays of the previous holes have exceeded our expectations for
    the project. While further work is needed to fully understand the
    controls on mineralisation, we are particularly encouraged by the
    high grades and widths encountered in several of the holes and the
    apparently large strike extent of the system," he added.

    The assay results highlights included:

    - Assay intervals include 11.0m @ 5.56g/t Au and 10.2m @ 5.73g/t Au -
    Mineralised zone confirmed by drilling over almost 1km of strike, with
    possible extension to 2km+ - Orogen moves into Phase 2 of programme to
    earn an 80% interest in the property "We have informed our Armenian
    partners that we will now proceed to Phase 2 of our programme under
    which Orogen has an option to earn an 80% interest in the Mutsk project
    by spending a total of US$2.5 million by end August 2016," Slowey said.



    From: Emil Lazarian | Ararat NewsPress
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