Retransmission: Additional Gold Results from OJVG'S Resource Expansion Drilling Program Include Deepest Intersections To Date
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/12/11 -- Oromin Explorations Ltd. (TSX: OLE)(OTCBB: OLEPF) -
HIGHLIGHTS
-- 46.04 g/t Gold over 11 metres (396 to 407 metres) in DH-927 at Golouma
West represents one of the highest 'grade x thickness' intervals drilled
thus far
-- Two mineralized zones of 5.54 g/t Gold over 8 metres (558 to 566 metres)
and 12.2 g/t Gold over 8 metres (590 to 598 metres) in DH-928 at Golouma
West represent the deepest drill intersections thus far
-- Additional New Drill Results include:
-- 8.79 g/t Gold over 13 metres at Golouma West
-- 8.90 g/t Gold over 7 metres at Golouma South
-- 9.52 g/t Gold over 6 metres at Masato
-- 3.95 g/t Gold over 15 metres at Masato
Oromin Explorations Ltd. ('Oromin'), on behalf of Oromin Joint Venture Group Limited ('OJVG'), is pleased to provide a further update to its drilling program at the OJVG Gold Project (the 'Project') in eastern Senegal, West Africa. Drilling in the latter part of 2010 focused on resource and reserve expansion with particular emphasis (1) on Golouma Style higher grade gold deposits, and (2) on initial definition drilling of higher grade gold potential beneath the proposed open pit at the Masato deposit.
Chet Idziszek, President and CEO of Oromin, stated, 'Results from our deepest drilling to date at Golouma West have confirmed excellent continuity of robust grades and favourable widths. Drilling has confirmed mineralization in multiple zones to at least 600 metres in depth, which is more than twice the average depth of 250 metres to which the reserves were calculated in the July 2010 Feasibility Study. Based on our drilling to date, all of the mineralized zones at the Golouma Style deposits remain open to depth and along strike.'
The new drill results, along with those previously reported in Oromin's December 1 and December 15,2010 news releases are listed below and detailed with included intervals in Appendix A. These drill results further confirm the continuity of mineralization and increasing expansion potential for those higher grade Golouma Style deposits down-dip and below the limits of the resource/reserve block model used for the July 2010 Feasibility Study. The reserves from the Golouma Style Deposits in the July 2010 Feasibility totalled 960,000 ounces (7.4 million tonnes at 4.06 g/t Au) while indicated resources totalled 1.2 million ounces (10.5 million tonnes at 3.59 g/t Au) and an additional 149,000 inferred ounces (1.1 million tonnes at 4.15 g/t Au) - See our July 15, September 22 and November 18, 2010 News Releases and our November 9, 2010 Short Form Prospectus for details.
Of particular note are drill holes DH-925, DH-927, DH-928, DH-932 and DH-935 which represent some of the deepest intersections to date at the Golouma West deposit. DH-927 intersected 46.04 g/t gold over 11 metres at 396 metres representing one of the highest 'grade x thickness' intervals from drilling thus far. Hole DH-928 intersected two gold zones at depth, 5.54 g/t gold over 8 metres at 558 metres and the deepest drill intersection to date, 12.2 g/t gold over 8 metres at 590 metres. Assay highlights from drilling include:
New Results Previously Reported
Golouma South Kerekounda
8.90 g/t Au over 7 m in DH-929 4.13 g/t Au over 14 m in DH-896
10.05 g/t Au over 14 m at in DH-900
Golouma West 6.90 g/t Au over 7 m in DH-903
9.78 g/t Au over 3 m in DH-919 21.20 g/t Au over 2 m in DH-908
4.36 g/t Au over 16 m in DH-925 Golouma West
46.04 g/t Au over 11 m in DH-927 5.41 g/t Au over 19 m in DH-901
5.54 g/t Au over 8 m in DH-928 26.87 g/t Au over 4 m in DH-905
12.20 g/t Au over 8 m in DH-928 17.14 g/t Au over 14 m in DH-915
8.77 g/t Au over 5 m in DH-924
At the Masato Deposit, new results from mineralized zones below the proposed open pit continue to confirm and extend the zones of higher grade gold mineralization potentially amenable to underground mining. The Masato Deposit mineralization will be modelled as a combined Open Pit and Underground operation for the planned resource and reserve updates scheduled in Q1 and Q2 of 2011 respectively.
Key results from Masato expansion drilling include: (see Appendix B for included intervals)
New Results Previously Reported
2.09 g/t Au over 11 m in DH-916 6.94 g/t Au over 31 m in DH-895
4.38 g/t Au over 7 m in DH-918 2.44 g/t Au over 41 m in DH-897
2.09 g/t Au over 21 m in DH-918 2.41 g/t Au over 16 m in DH-899
3.90 g/t Au over 16 m in DH-921 4.12 g/t Au over 37 m in DH-906
3.95 g/t Au over 15 m in DH-922 8.02 g/t Au over 10 m in DH-906
9.52 g/t Au over 6 m in DH-926 2.79 g/t Au over 15 m in DH-909
2.87 g/t Au over 9 m in DH-930 6.52 g/t Au over 5 m in DH-913
The 2011 exploration drilling program has commenced and the planned Q1 resource update is now underway.
Doug Turnbull, P. Geo., is a qualified person for the purposes of National Instrument 43-101, and has verified the data disclosed in this news release. William Bond, P. Geo., is also a qualified person for the purposes of National Instrument 43-101, and has supervised geologic field procedures. TSL Laboratories in Saskatoon carried out all assaying under industry-standard QA/QC procedures.
To find out more about Oromin Explorations Ltd., visit www.oromin.com.
On behalf of the Board of Directors of
OROMIN EXPLORATIONS LTD.
Chet Idziszek, President
Cautionary Statement
This document contains 'forward-looking statements' within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans and our other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. Such forward-looking statements include, without limitation, estimates of exploration investment and the scope of exploration programs. There can be no assurance that such statements will prove to be accurate, and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates or opinions change. Forward-looking statements are subject to risks, uncertainties and other factors, including risks associated with public markets, mineral exploration, price volatility in the mineral commodities we seek, and operational and political risks. Readers are advised not to place undue reliance on forward-looking statements.
Appendix A
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Golouma Style Deposits
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Drill Grid Azimuth From - To Interval Gold Grade
Deposit Hole Co-Ordinate /Dip (m) (m) (g/t)
----------------------------------------------------------------------------
GOLOUMA DH-929 53129N/14953E 114/-65 240-247 7 8.90
SOUTH incl.245-246 1 29.70
254-256 2 6.11
----------------------------------------------------------------------------
GOLOUMA DH-919 53307N/14654E 015/-80 383-386 3 9.78
WEST incl.384-385 1 22.70
394-400 6 3.40
-----------------------------------------------------------------
DH-925 53280N/14625E 015/-70 386-402 16 4.36
incl.386-392 6 8.14
-----------------------------------------------------------------
DH-927 53279N/14625E 015/-75 396-407 11 46.04
incl.396-399 3 161.31
incl.398-399 1 434.60
-----------------------------------------------------------------
DH-928 53819N/14379E 215/-65 204-210 6 2.43
incl.204-205 1 7.82
558-566 8 5.54
incl.561-564 4 7.78
590-598 8 12.20
incl.593-596 3 26.91
-----------------------------------------------------------------
DH-932 53290N/14614E 015/-75 412-425 13 8.79
incl.412-417 5 16.78
incl.414-415 1 45.76
-----------------------------------------------------------------
DH-934 53803N/14333E 208/-76 224-229 5 6.72
-----------------------------------------------------------------
DH-935 53290N/14314E 015/-80 429-438 9 5.90
incl.429-434 5 9.10
incl.433-434 1 24.14
-----------------------------------------------------------------
RC-817 53682N/14298E 099/-67 155-171 16 6.52
incl.157-166 9 9.87
incl.157-159 2 15.79
and 163-165 2 15.46
-----------------------------------------------------------------
DH-905(i) 53784N/14202E 128-62 55-56 1 7.15
142-144 2 5.01
280-284 4 26.87
incl.280-281 1 50.05
and 283-284 1 55.23
-----------------------------------------------------------------
DH-910(i) 53239N/14646E 015/-70 413-418 5 2.53
-----------------------------------------------------------------
DH-911(i) 53262N/14699E 015/-70 373-378 5 2.20
-----------------------------------------------------------------
DH-915(i) 53307N/14654E 015/-75 354-368 14 17.14
incl.354-356 2 39.15
and 361-363 2 63.52
-----------------------------------------------------------------
DH-924(i) 53753N/14368E 213/-69 196-201 5 8.77
incl.196-198 2 15.74
337-344 7 1.78
411-438 27 7.68
incl.411-422 11 15.27
incl.414-419 5 26.95
incl.414-415 1 50.70
451-454 3 3.58
-----------------------------------------------------------------
DH-901(i) 53781N/14204E 144/-64 195-199 4 2.90
incl.198-199 1 6.86
315-350 35 4.03
incl.324-343 19 5.41
and 324-330 6 7.66
----------------------------------------------------------------------------
----------------------------------------------------------------------------
KEREKOUNDA DH-903(i) 54445N/15344E 055/-71 326-333 7 6.90
342-344 2 7.17
-----------------------------------------------------------------
DH-908(i) 54416N/15349E 055/-71 328-330 2 21.20
incl.328-329 1 41.36
-----------------------------------------------------------------
DH-896(i) 54484N/15298E 055/-78 124-125 1 13.75
363-377 14 4.13
incl.363-369 6 8.26
-----------------------------------------------------------------
DH-900(i) 54461N/15311E 055/-71 334-348 14 10.05
incl.337-341 4 29.85
incl.339-340 1 67.76
----------------------------------------------------------------------------
----------------------------------------------------------------------------
(i)Previously reported. Mineralized intervals are based on 1-metre samples
utilizing 1.0 g/t gold cut-off levels with a maximum internal dilution of 2
metres. The interval from 411 to 438 in DH-924 has 5 metres of interval
dilution below the 1.0 g/t gold cut-off level. The attitude of mineralized
intervals varies and reported mineralized intersections may not represent
true widths.
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Appendix B
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Masato Deposit Results
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Gold
Drill Grid Azimuth From - To Interval Grade
Deposit Hole Co-Ordinate /Dip (m) (m) (g/t)
----------------------------------------------------------------------------
MASATO DH-916 59618N/14428E 115/-67 161-172 11 2.09
incl.168-171 3 4.02
235-244 9 1.73
incl.241-244 3 3.40
DH-918 59581N/14447E 115/-67 191-198 7 4.38
206-228 22 2.01
incl.206-214 8 3.30
DH-921 59613N/14451E 118/-67 204-220 16 3.90
incl.206-212 6 6.41
incl.206-208 2 12.69
DH-922 59593N/14425E 115/-67 170-177 7 2.70
incl.171-173 2 6.19
227-242 15 3.95
incl.227-236 9 6.23
incl.227-228 1 30.28
DH-926 59568N/14513E 115/-67 50-52 2 4.00
66-72 6 9.52
99-109 10 1.73
incl.99-101 2 4.79
DH-930 59562N/14530E 115/-67 55-64 9 2.87
incl.55-59 4 5.63
-----------------------------------------------------------------
DH-902(i) 59452N/14436E 115/-82 186-196 10 2.49
incl.186-189 3 4.24
202-205 3 1.78
267-280 13 2.27
incl.267-270 3 4.25
-----------------------------------------------------------------
DH-904(i) 59432N/14420E 115/-60 157-161 4 2.28
184-193 9 2.16
incl.184-186 2 4.70
-----------------------------------------------------------------
DH-906(i) 59432N/14420E 115/-70 207-244 37 4.12
incl.211-229 18 7.04
incl.223-229 6 14.57
incl.226-228 2 35.53
264-274 10 8.02
incl.271-272 1 55.21
-----------------------------------------------------------------
DH-909(i) 59432N/14420E 115/-76 237-241 4 1.70
249-268 19 2.00
incl.252-255 3 4.02
and 266-268 2 4.49
282-297 15 2.79
incl.282-292 10 3.38
incl.282-285 3 4.18
-----------------------------------------------------------------
DH-913(i) 59648N/14465E 115/-77 169-174 5 6.52
180-182 2 4.60
220-228 8 2.42
-----------------------------------------------------------------
DH-894(i) 59530N/14422E 115/-80 190-209 19 1.06
incl.204-208 4 2.06
252-268 16 1.94
incl.253-256 3 4.18
-----------------------------------------------------------------
DH-895(i) 59509N/14422E 115/-73 110-123 13 1.80
incl.115-119 4 3.29
incl.115-116 1 9.12
163-194 31 6.94
incl.163-167 4 9.71
and 178-194 16 9.95
incl.181-189 8 17.11
incl.182-183 1 49.04
-----------------------------------------------------------------
DH-897(i) 59444N/14490E 115/-68 62-65 3 5.49
103-112 9 1.84
incl.109-112 3 3.60
125-166 41 2.44
incl.129-130 1 36.11
and 137-143 6 4.84
incl.139-141 2 10.50
-----------------------------------------------------------------
DH-899(i) 59444N/14490E 115/-82 114-120 6 1.76
Incl.118-119 1 6.05
185-201 16 2.41
Incl.185-189 4 4.61
216-242 26 2.04
Incl.222-231 9 3.64
Incl.223-224 1 16.87
----------------------------------------------------------------------------
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(i)Previously reported.
Mineralized intervals are based on 1-metre samples utilizing 0.5 and 1.0 g/t
gold cut-off levels with a maximum internal dilution of 4 metres. The
attitude of mineralized intervals varies and reported mineralized
intersections may not represent true widths.
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Contacts:
Oromin Explorations Ltd.
David Scott
Investor Relations
(604) 331-8772 or Toll-free: (877) 529-8475
(604) 331-8773 (FAX)
dscott@mine-tech.com
www.oromin.com