Oromin Explorations Ltd.: Excellent Drilling Results Continue-Two Additional Drills Expected By Month End to Increase Pace of 140,000 Metre 2008 Resource Drilling Program
Posted on: Thursday, 20 March 2008, 21:00 CDT
Oromin Explorations Ltd. (TSX VENTURE: OLE)(OTCBB: OLEPF) -
HIGHLIGHTS
- LATEST DRILLING RESULTS CONTINUE TO EXPAND MINERALIZATION AT GOLOUMA SOUTH, MASATO AND GOLOUMA WEST INCLUDING:
- 18 metres of 8.41 g/t gold in RC-192 at Golouma South
- 19 metres of 8.83 g/t gold in RC-194 at Golouma South
- 27 metres of 3.47 g/t gold in DH-199 at Golouma West
- 8 metres of 14.57 g/t gold in DH-216 at Golouma West
- 30 metres of 3.33 g/t gold in RC-189 at Masato
- 23 metres of 6.47 g/t gold in RC-201 at Masato
- INITIAL NI 43-101 COMPLIANT INFERRED MINERAL RESOURCE ESTIMATE BY SRK SCHEDULED FOR END OF MAY
Oromin Explorations Ltd. ("Oromin") is pleased to announce additional results from the ongoing step-out and in-fill drilling program at the Golouma West, Golouma South and Masato Gold Deposits. Currently, four drill rigs are involved in the aggressive drilling activities at Sabodala with two more drills contracted to also be drilling by month end which will accelerate the pace of Oromin's 140,000 metre 2008 resource drilling program.
Oromin has been informed by SRK Consulting (Canada) Inc. ("SRK") that the NI 43-101 compliant inferred mineral resource estimate will be delayed approximately one month to the end of May 2008 due to industry-wide delays SRK is experiencing with technical professionals and laboratories. As previously disclosed SRK has been engaged to complete baseline studies, metallurgical testwork and further resource updates and to begin a preliminary feasibility study during 2008.
Oromin's 2008 drilling program is focused on resource definition and delineation of Sabodala Exploration concession's numerous gold zones and deposits. Drilling will be directed at both known and newly outlined gold deposits at depth and along trend, as well as initial evaluation of all remaining significant targets established within the concession. Results from the ongoing property-wide exploration program continue to support Oromin's model of multiple gold deposits within the Sabodala Exploration Licence.
GOLOUMA SOUTH GOLD DEPOSIT
The Golouma South gold deposit is centred within a 3-kilometre northeast trending gold geochemical anomaly that flanks the southeast side of the extensive Golouma gold geochemical complex of anomalies.
Our reverse circulation and diamond core drilling results continue to expand mineralization. Some of the most significant new results at Golouma South include:
Drill Hole From (m) Interval (m) Gold (g/t) ------------------------------------------------ RC-192 120 18 8.41 RC-194 78 19 8.83 DH-189 30 9 7.06 DH-190 50 14 3.86 DH-192 61 14 8.74 DH-195 87 12 7.34 DH-196 110 15 5.91
GOLOUMA WEST GOLD DEPOSIT
The Golouma West Gold Deposit has now been traced over 1,500 metres on surface, to over 300 metres at depth and remains open in all directions. Oromin is drilling this deposit on 40-metre, and locally 20-metre, centres using both reverse circulation and diamond core rigs.
The results continue to expand mineralization. Some of the most significant new results at Golouma West include:
Drill Hole From (m) Interval (m) Gold (g/t) ------------------------------------------------ RC-197EXT 240 7 6.93 RC-212EXT 218 17 4.03 RC-214 117 27 2.21 RC-216 45 8 14.57 DH-199 126 27 3.47 DH-200 162 21 3.41 DH-202 37 19 4.15
MASATO GOLD DEPOSIT
The Masato Gold Deposit is coincident with a strong gold-in-soil geochemical anomaly 2.6 kilometres in length by up to 1.2 kilometres in width and is located 1.2 kilometres due east of the 1.9 million ounce Sabodala Gold Deposit that is being readied for production by Mineral Deposits Ltd. (see Mineral Deposits Ltd. August 16, 2007 news release). The deposit also trends northeast and dips moderately steeply to the west. It is currently being drilled on 40-metre and locally 20-metre centres.
As reported in Oromin's last press release, the section-to-section continuity of near surface thicker mineralization continues at Masato. For example, RC-189 yielded 30 metres of 3.33 g/t gold. RC-201 yielded three thick and well-mineralized intervals: 23 metres grading 6.47 g/t gold, 20 metres grading 2.59 g/t gold and 16 metres grading 2.87 g/t gold.
Some of the most significant new results at Masato include:
Drill Hole From (m) Interval (m) Gold (g/t) ------------------------------------------------ RC-181 83 6 3.46 RC-185 89 27 1.57 RC-189 87 30 3.33 RC-200 55 12 3.45 RC-201 70 23 6.47 and 96 20 2.59 and 120 16 2.87 RC-203 83 18 2.10 RC-206 97 7 6.29 and 151 29 1.80
OTHER GOLD TARGETS
In addition to the Niakafiri Southwest target, other significant gold targets to be drill-tested during 2008 include the following, each of which returned excellent initial trench results similar to the initial trench results at Golouma prior to Oromin's early drilling success there.
Interval Target (m) Gold (g/t) ----------------------------------- Sekoto 12 3.78 Korolo 13 3.22 Maleko 5 6.21 Clover Leaf 7 6.48 Kinemba 8 5.49
Fieldwork was carried out under the supervision of Gerald McArthur, P. Geo., a "qualified person" for the purposes of National Instrument 43-101, who has verified the data disclosed in this news release. 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. Please refer to the maps which set out the Sabodala deposits and zones under "investor info/articles and reports" on the website, and our previous news releases, for additional project information.
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 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.
SCHEDULE ----------------------------------------------------------------------- --- Golouma South Gold Deposit -------------------------------------------------------------------------- Grid Azimuth/ From - To Interval Gold Drill Hole Section Co-ordinate Dip (m) (m) (g/t) -------------------------------------------------------------------------- RC-191 010S 3167N/5061E 110/-60 187-189 2 1.09 -------------------------------------------------------------------------- RC-192 115S 3036N/5063E 110/-60 112-116 4 8.26 Incl.113-114 1 27.74 120-138 18 8.41 Incl.120-122 2 19.19 And 125-128 3 24.07 -------------------------------------------------------------------------- RC-193 220S 2942N/5016E 110/-60 136-139 3 4.51 -------------------------------------------------------------------------- RC-194 220S 2928N/5053E 110/-60 78-97 19 8.83 Incl.86-88 2 41.00 -------------------------------------------------------------------------- RC-210 220S 2867N/4913E 110/-60 173-175 2 6.64 183-185 2 3.22 -------------------------------------------------------------------------- DH-189 010S 3124N/5185E 110/-60 30-39 9 7.06 Incl.36-37 1 30.42-------------------------------------------------------------------------- DH-190 115S 3012N/5136E 110/-60 41-45 4 11.65 Incl.41-42 1 30.18 50-64 14 3.86 Incl.54-56 2 12.86 -------------------------------------------------------------------------- DH-191 010S 3130N/5166E 110/-60 49-56 7 3.84 Incl.54-55 1 17.46 -------------------------------------------------------------------------- DH-192 115S 3017N/5116E 110/-60 61-75 14 8.74 Incl.63-66 3 25.49 -------------------------------------------------------------------------- DH-193 010S 3138N/5148E 110/-60 65-68 3 2.14 -------------------------------------------------------------------------- DH-195 010S 3143N/5129E 110/-60 87-99 12 7.34 Incl.92-94 2 26.39 -------------------------------------------------------------------------- DH-196 115S 3032N/5077E 110/-60 110-125 15 5.91 Incl.112-113 1 52.19 -------------------------------------------------------------------------- -------------------------------------------------------------------------- Golouma West Gold Deposit -------------------------------------------------------------------------- Grid Azimuth/ From - To Interval Gold Drill Hole Section Co-ordinate Dip (m) (m) (g/t) -------------------------------------------------------------------------- RC-196 340W 3356N/4658E 015/-57 126-128 2 9.57 151-156 5 1.70 212-214 2 8.89 -------------------------------------------------------------------------- RC-214 420W 3550N/4627E 012/-60 86-92 6 2.47 99-102 3 16.05 117-144 27 2.21 Incl.125-130 5 4.75 -------------------------------------------------------------------------- RC-215 340W 3500N/4700E 013/-55 68-71 3 2.42 108-112 4 7.19 Incl.108-109 1 16.91 140-145 5 4.19 151-154 3 12.87 Incl.153-154 1 29.53 -------------------------------------------------------------------------- RC-216 340W 3497N/4699E 012/-70 3-8 5 2.46 45-53 8 14.57 Incl.51-53 2 40.62 195-198 3 6.71 -------------------------------------------------------------------------- RC-217 420W 3507N/4620E 015/-60 141-149 8 1.84 165-173 8 1.72 (i)hole ends in 175-186 11 2.11 mineralization 195-200 (i)5 1.45 -------------------------------------------------------------------------- DH-197 420W 3546N/4629E 015/-52 62-67 5 2.32 84-91 7 2.10 Incl.84-87 3 4.25 97-102 5 3.27 125-126 1 16.32 -------------------------------------------------------------------------- DH-198 420W 3574N/4636E 015/-56 30-35 5 1.67 Incl.30-31 1 5.73 61-65 4 5.04 -------------------------------------------------------------------------- DH-199 420W 3545N/4629E 015/-65 95-99 4 3.76 111-114 3 3.03 126-153 27 3.47 Incl.126-132 6 5.31 And 142-150 8 4.83 -------------------------------------------------------------------------- DH-200 420W 3506N/4615E 015/-65 136-140 4 4.36 149-151 2 1.82 162-183 21 3.41 Incl.171-177 6 5.78 -------------------------------------------------------------------------- DH-202 540W 3621N/4527E 015/-60 37-56 19 4.15 Incl.46-51 5 7.28 -------------------------------------------------------------------------- DH-203 340W 3536N/4711E 015/-60 99-105 6 1.44 109-111 2 7.34 118-120 2 2.87 -------------------------------------------------------------------------- RC-197EXT 340W 3354N/4658E 015/-64 240-247 7 6.93 252-257 5 2.30 -------------------------------------------------------------------------- C-212EXT 420W 3475N/4603E 010/-66 187-193 6 10.54 Incl.189-190 1 28.43 209-212 3 4.51 218-235 17 4.03 Incl.224-225 1 37.07 -------------------------------------------------------------------------- -------------------------------------------------------------------------- Masato Gold Deposit -------------------------------------------------------------------------- Grid Azimuth/ From - To Interval Gold Drill Hole Section Co-ordinate Dip (m) (m) (g/t) -------------------------------------------------------------------------- RC-181 080S 59396N/4490E 110/-50 32-38 6 1.18 54-61 7 1.48 83-89 6 3.46 -------------------------------------------------------------------------- RC-182 680N 60098N/4802E 095/-65 64-68 4 1.62 -------------------------------------------------------------------------- RC-185 060S 5943N/4500E 110/-70 28-32 4 2.73 46-51 5 2.45 54-60 6 1.98 63-69 6 2.95 89-96 7 2.04 99-116 17 1.57 Incl.103-104 1 10.19 -------------------------------------------------------------------------- RC-186 040S 59475N/4502E 110/-70 34-38 4 1.70 82-88 6 1.23 -------------------------------------------------------------------------- RC-189 300N 59784N/4616E 110/-60 51-59 8 1.16 63-67 4 1.56 87-117 30 3.33 Incl.92-108 16 5.58 Incl.93-94 1 49.42 -------------------------------------------------------------------------- RC-200 060N 59555N/4510E 110/-50 55-67 12 3.45 70-75 5 1.24 93-103 10 1.34 108-119 11 1.05 -------------------------------------------------------------------------- RC-201 060N 59556N/4508E 110/-65 61-68 7 1.39 70-93 23 6.47 Incl.80-81 1 104.4 96-116 20 2.59 Incl.97-100 3 7.02 120-136 16 2.87 Incl.127-129 2 7.46 -------------------------------------------------------------------------- RC-202 140S 59358N/4479E 110/-65 66-71 5 1.68 91-96 5 1.84 127-132 5 1.28 --------------------------------------------------------------------------RC-203 140S 59357N/4480E 110/-50 83-101 18 2.10 Incl.85-89 4 5.49 -------------------------------------------------------------------------- RC-204 220S 59267N/4483E 110/-65 51-53 2 1.48 122-133 11 1.35 150-161 11 1.73 169-173 4 1.31 -------------------------------------------------------------------------- RC-205 220S 59266N/4484E 110/-50 40-45 5 1.04 101-105 4 1.17 -------------------------------------------------------------------------- RC-206 260S 59228N/4470E 110/-65 97-104 7 6.29 Incl.99-100 1 31.89 110-114 4 2.13 151-180 29 1.80 Incl.165-175 10 3.23 -------------------------------------------------------------------------- RC-207 260S 59228N/4471E 110/-50 63-70 7 1.26 88-95 7 1.75 Incl.90-91 1 6.76 127-133 6 1.40 139-149 10 1.57 Incl.145-148 3 2.69 154-156 2 2.10 -------------------------------------------------------------------------- Mineralized intervals are based on 1-metre composite samples utilizing a 0.5 g/t gold cut-off level with a maximum internal dilution of 2 metres. The attitude of mineralized intervals varies and reported mineralized intersections may not represent true widths.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.
Contacts: Oromin Explorations Ltd. David Scott Investor Relations (604) 331-8772 (604) 331-8773 (FAX) Email: dscott@mine-tech.com Website: www.oromin.com
SOURCE: Oromin Explorations Ltd.
Source: MARKET WIRE
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