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| | Mon Nov 9, 2009
Gold-Ore Reports Underground Drill Results & Future Drill Plans at Bjorkdal
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| | Gold-Ore Resources Ltd. (the "Company") 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
Drill Hole |
Section |
From (m) |
To
(m) |
Core Interval (m) |
True Width (m) |
Gold Grade (g/t) |
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 |
|
|
91.0 |
94.0 |
3.0 |
2.6 |
4.19 |
|
|
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 |
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 |
|
|
90.0 |
93.0 |
3.0 |
2.9 |
6.44 |
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 |
|
|
64.0 |
66.0 |
2.0 |
2.0 |
9.92 |
2009-028 |
20 West |
Hole lost and not sampled |
2009-029 |
20 East |
No significant values |
2009-030 |
40 East |
No significant values |
2009-031 |
45 East |
8.2 |
10.2 |
2.0 |
2.0 |
10.79 |
|
|
35.4 |
37.8 |
2.4 |
2.4 |
2.48 |
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.
For more information please contact Glen Dickson, Bob Wasylyshyn or Ron Ewing at (604) 687-8884. 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
The TSX Venture 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. |
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| | You can view the Next News Releases item: Wed Dec 9, 2009, Gold-Ore Reports Fourth Quarter and 2009 Year End Production Results
You can view the Previous News Releases item: Fri Oct 30, 2009, Gold-Ore Reports Third Quarter Financial and Operational Results
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