Gold-Ore Reports Underground Drill Results & Future Drill Plans at Bjorkdal
09 Novembre 2009 - 3:00PM
Marketwired
Gold-Ore Resources Ltd. (the "Company") (TSX VENTURE: GOZ) is
pleased to report drill results from the on-going underground
diamond drill program at the 100%-owned Bjorkdal Gold Mine in
Sweden. The drilling has been very successful at expanding the size
of the orebody and the deposit remains open to expansion in all
directions. Management is confident that drilling at the mine is
extending mine life by more than adequately replacing mined ounces
with new ounces.
Gold-Ore President, Bob Wasylyshyn, commented, "Recent drilling
continues to expand the orebody and has a significant and positive
impact on mine life, thereby increasing the Net Asset Value of the
mine and the Company. This coupled with more stable gold production
through an improved mine plan provides an exceptional opportunity
for growth in the Company."
Reserve, Resource Expansion
The Company recently released a reserve/resource statement (see
NR dated October, 28, 2009) that was based on historic drilling and
all drilling conducted during 2006 to 2008, but excluded all 2009
drilling. During 2009 a total of 36 core holes (4,700 metres) were
drilled from the underground workings and 91% of the holes have
intersected quartz veins with mineable gold grades and widths.
These results have successfully expanded the known reserve/resource
at Bjorkdal.
Exploration Drift
During July an exploration tunnel was started and driven to
explore the extension of the orebody towards the north. This area
has been tested by only a few surface holes with very encouraging
results. The tunnel is now 90% complete and the diamond drill was
positioned in it 10 days ago. Two holes have been completed and
both intersected numerous quartz veins, many mineralized with
visible gold.
The current mine plan at Bjorkdal involves mining over 40
gold-bearing quartz veins across a footprint width of 1,200 metres.
Drilling from the exploration drift is successfully extending that
footprint along strike and the tonnage potential is significant
when multiplied across the 40 known veins. The drill will complete
six to ten holes in the tunnel and will then be moved so that the
tunnel can be extended providing further drill access.
Significant Drill Intersections
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Core
From To Interval True Width Gold Grade
Drill Hole Section (m) (m) (m) (m) (g/t)
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2009-016 0 East 8.7 12.6 3.9 3.9 3.86
--------------------------------------------------------------------------
2009-017 40 West 0.0 2.3 2.3 2.0 14.26
--------------------------------------------------------------------------
8.0 10.8 2.8 2.5 3.50
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91.0 94.0 3.0 2.6 4.19
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225.3 227.4 2.1 1.9 4.24
--------------------------------------------------------------------------
2009-018 80 West 37.8 40.1 2.3 2.0 7.52
--------------------------------------------------------------------------
118.0 121.0 3.0 2.7 2.69
--------------------------------------------------------------------------
139.0 141.9 2.9 2.6 3.89
--------------------------------------------------------------------------
2009-019 220 West 28.1 31.1 3.0 2.8 2.86
--------------------------------------------------------------------------
2009-020 220 West 59.0 62.8 3.8 3.3 3.80
--------------------------------------------------------------------------
including 59.9 60.8 0.9 0.8 75.50
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2009-021 220 West 30.0 34.9 4.9 4.9 12.19
--------------------------------------------------------------------------
2009-022 180 West 29.6 32.5 2.9 2.6 6.42
--------------------------------------------------------------------------
2009-023 160 West 3.0 5.0 2.0 2.0 8.31
--------------------------------------------------------------------------
13.3 16.0 2.7 2.7 5.80
--------------------------------------------------------------------------
2009-024 140 West 8.0 11.0 3.0 2.7 3.23
--------------------------------------------------------------------------
2009-025 140 West 36.0 42.0 6.0 5.8 8.59
--------------------------------------------------------------------------
54.9 58.1 3.2 3.1 3.30
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90.0 93.0 3.0 2.9 6.44
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2009-026 60 West 90.0 92.1 2.1 2.1 8.46
--------------------------------------------------------------------------
2009-027 20 West 22.5 24.5 2.0 2.0 9.22
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64.0 66.0 2.0 2.0 9.92
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2009-028 20 West Hole lost and not sampled
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2009-029 20 East No significant values
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2009-030 40 East No significant values
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2009-031 45 East 8.2 10.2 2.0 2.0 10.79
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35.4 37.8 2.4 2.4 2.48
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2009-032 60 East 37.1 39.8 2.7 2.7 9.52
--------------------------------------------------------------------------
The Company only releases drill intersections deemed to be
significant. If a drill hole cuts mineralization with gold values
greater than 2.5 g/t across a true width of approximately 2.0
metres or more, it is released. This criterion is based on the
mining methods employed at Bjorkdal where mining widths vary from
2.5 meters to 5.0 metres. The multiple intersections in many of the
holes reflect different veins within the vein swarm.
Sample Protocol and Chain of Custody
In 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-Ore
Gold-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.
Gold-Ore's project information is posted on the Company's web
site at www.goldoreresources.com.
ON BEHALF OF THE BOARD
Robert S. Wasylyshyn, President
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.
News Release 09-16
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Gold-Ore Resources Ltd. Glen Dickson (604) 687-8884
Gold-Ore Resources Ltd. Bob Wasylyshyn (604) 687-8884 Gold-Ore
Resources Ltd. Ron Ewing (604) 687-8884 (604) 629-0400 (FAX)
www.goldoreresources.com
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