Pre-Merger Gold-Ore News Releases
|July 28, 2010|
Gold-Ore Commences Surface Exploration Drilling
|Vancouver, BC, Canada - Gold-Ore Resources Ltd. (GOZ:TSX) is pleased to provide an update of the 2010 surface diamond drilling programs near the Bjorkdal mine site in Sweden. The drilling has two components with different objectives. The first program will focus on expanding the current mine operation immediately adjacent to the processing plant. The second program will focus on finding new satellite deposits on the 66 square kilometre exploration concessions surrounding the mine site. |
The first drill program started July 26 and is focussing on the Nylunds target located 300 metres east of the open pit. Historic drilling in the area intersected significant gold mineralization similar to Bjorkdal. The initial phase of drilling is up to 2000 metres. The objective of the program is to test for gold mineralization for extraction by both underground and open pit mining. Results are expected in the fourth quarter.
The second drill program will test targets on nearby exploration concessions. The Company has received results from the low level helicopter airborne magnetic survey completed this spring over its entire property. An exploration concession was acquired (10.74 square kilometres) west of the Bjorkdal mine covering favourable targets generated by that survey. Infill till sampling for heavy minerals continues and will aid in drill target selections. A contract has been granted for an airborne Time Domain Electromagnetic ("TDEM") geophysical survey over selected areas. The objective of the TDEM survey is to define targets that may be associated with base and precious metals. Diamond drill testing of selected targets is planned for the fourth quarter of 2010.
The world class Skellefteå mining district, where Gold-Ore's Bjorkdal mine is located, has been the focus of exploration for gold-rich polymetallic deposits since the discovery of the Boliden Gold Deposit in the mid-1920's. The district extends 120 kilometres west-northwest and is approximately 30 kilometres wide and contains more than 85 such deposits, of which 28 have been mined since 1924. Currently there are 5 base and precious metal mines in the district. Gold production from the district has exceeded 10 million ounces.
Gold-Ore Resources is a gold mining and exploration company currently focused in the Skelleftea mining district in northern Sweden. The Company's primary asset is the Bjorkdal Mine, which is cash flow positive, debt-free and unhedged. In addition to Bjorkdal, the Company also has other assets in the district including the mineral rights to 66 square kilometres around the mine site, as well as the Norrliden Polymetallic Deposit.
For more information please contact the Company at (604) 687-8884 or Troy Winsor at 1-800-663-8072. Bjorkdal property information is posted on the Company's web site at www.goldore.ca
ON BEHALF OF THE BOARD
The TSX 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.
You can view the Next Pre-Merger Gold-Ore News Releases item: Fri Aug 13, 2010, Gold-Ore Provides Update On Underground Mining At Bjorkdal
You can view the Previous Pre-Merger Gold-Ore News Releases item: Tue Jul 13, 2010, Gold-Ore Reports Strong Earnings in Second Quarter, 2010
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