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Oromin Announces Further Positive Drilling Results From Ongoing Resource Expansion Program
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 1, 2010) - Oromin Explorations Ltd. (TSX:OLE)(OTCBB:OLEPF) -
New Drill Results include:
-- 10.05 g/t Au over 14 metres at Kerekounda
-- 5.41g/t Au over 19 metres at Golouma West
-- 6.94 g/t Au over 31 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 ongoing 2010 drilling program at the OJVG Gold Project (the "Project") in eastern Senegal, West Africa. The current drilling is focused on project resource and reserve expansion with particular emphasis on Golouma Style, higher grade gold deposits and initial definition drilling of higher grade gold potential beneath the proposed open pit at the Masato deposit. This program is presently employing six drill rigs.
GOLOUMA STYLE DEPOSITS
As part of OJVG's intention to expand the Golouma Style deposits' higher grade resources amenable to underground mining, one objective of the current drilling campaign is to define areas of resource/reserve expansion potential at depth, below the existing Golouma West, Golouma South, Kerekounda and Kourouloulou deposits. The Golouma Deposits' indicated resources contain 1,218,000 ounces of gold. Their mineable reserves total 7,364,000 tonnes containing 960,000 ounces of gold at the diluted grade of 4.06 g/t Au (See July 15, September 22, November 18 news releases and November 9 Short Form Prospectus for details).
The new drill results along those previously reported in Oromin's news release, dated November 18, 2010 are listed below and 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. At Golouma West for example, nine recently completed drill holes for which assays are pending, (911, 915, 917, 919, 924, 925, 927, 928, 932) have all intersected strong mineralized zones including visible gold below the Feasibility Study reserve blocks at vertical depths between 300 and 500 metres. Assay highlights from drilling include:
4.13 g/t Au over 14 at Kerekounda in DH-896
10.05 g/t Au over 14 at Kerekounda in DH-900
5.41 g/t Au over 19 at Golouma West in DH-901
15.09 g/t Au over 6 m at Golouma South in DH-860(i)
7.05 g/t Au over 6 m at Golouma South in DH-862(i)
3.19 g/t Au over 6 m at Golouma South in DH-869(i)
3.79 g/t Au over 4 m at Golouma South in DH-873(i)
8.26 g/t Au over 11 m at Golouma South in DH-519(i)
4.15 g/t Au over 12 m at Golouma South in DH-848(i)
2.67 g/t Au over 7 m at Golouma West in DH-863(i)
10.14 g/t Au over 5 m at Golouma West in DH-868(i)
8.12 g/t Au over 7 m at Golouma West in DH-892(i)
3.47 g/t Au over 8 m at Kerekounda in DH-883(i)
8.02 g/t Au over 11 m at Kerekounda in DH-849(i)
10.19 g/t Au over 3 m at Kerekounda in DH-855(i)
49.82 g/t Au over 7 m at Kourouloulou in DH-837(i)
11.18 g/t gold over 7 m at Kourouloulou in DH-853(i)
(i) Previously reported (see news release dated November 18, 2010).
MASATO DEPOSIT - UNDERGROUND
New drill results from mineralized zones below the proposed open pit at the Masato Deposit continue to extend the zones of higher grade gold mineralization potentially amenable to underground mining. This mineralization will be remodelled for the planned resource and reserve update scheduled in Q1 and Q2 of 2011 respectively.
Key results from Masato expansion drilling include: (see Appendix B for details)
1.94 g/t Au over 16 m in DH-894
6.94 g/t Au over 31 m in DH-895
5.49 g/t Au over 3 m in DH-897
2.44 g/t Au over 41 m in DH-897
2.41 g/t Au over 16 m in DH-899
2.04 g/t Au over 26 m in DH-899
1.94 g/t Au over 12 m in DH-859(i)
6.12 g/t Au over 15 m in DH-864(i)
5.13 g/t Au over 3 m in DH-867(i)
3.18 g/t Au over 5 m in DH-872(i)
1.36 g/t Au over 14 m in DH-874(i)
6.78 g/t Au over 2 m in DH-875(i)
2.17 g/t Au over 6 m in DH-875(i)
2.85 g/t Au over 5 m in DH-875(i)
3.38 g/t Au over 4 m in DH-876(i)
3.46 g/t Au over 3 m in DH-877(i)
4.05 g/t Au over 10 m in DH-878(i)
2.45 g/t Au over 8 m in DH-879(i)
4.13 g/t Au over 2 m in DH-881(i)
3.03 g/t Au over 4 m in DH-882(i)
4.73 g/t Au over 2 m in DH-884(i)
4.12 g/t Au over 4 m in DH-884(i)
2.08 g/t Au over 11 m in DH-884(i)
2.86 g/t Au over 4 m in DH-885(i)
2.02 g/t Au over 8 m in DH-885(i)
2.21 g/t Au over 4 m in DH-888(i)
2.10 g/t Au over 14 m in DH-888(i)
1.74 g/t Au over 14 m in DH-888(i)
1.44 g/t Au over 12 m in DH-890(i)
4.35 g/t Au over 10 m in DH-890(i)
3.29 g/t Au over 14 m in DH-890(i)
3.78 g/t Au over 9 m in DH-890(i)
5.31 g/t Au over 3 m in DH-890(i)
2.21 g/t Au over 10 m in DH-891(i)
5.14 g/t Au over 5 m in DH-891(i)
3.16 g/t Au over 7 m in DH-891(i)
1.98 g/t Au over 11 m in DH-891(i)
2.99 g/t Au over 3 in DH-893(i)
2.01 g/t Au over 15 m in DH-893(i)
2.56 g/t Au over 9 m in DH-270(i)
3.60 g/t Au over 7 m in DH-277(i)
2.56 g/t Au over 28 m in DH-279(i)
5.70 g/t Au over 9 m in DH-335(i)
3.21 g/t Au over 19 m in DH-439(i)
6.47 g/t Au over 23 m in RC-201(i)
2.18 g/t Au over 43 m in RC-208(i)
7.89 g/t Au over 7 m in RC-384(i)
3.32 g/t Au over 10 m in RC-408(i)
8.86 g/t Au over 25 m in DH-312(i)
5.24 g/t Au over 5 m in DH-736(i)
6.92 g/t Au over 6 m in RC-295(i)
(i) Previously reported (see news release dated November 18, 2010).
In the Feasibility Study completed by SRK Consulting (Canada) Inc. ("SRK") and filed in July 2010, only the near surface, open pittable portion of the indicated resources at Masato was converted to reserves that would be mined and blended with higher grade gold reserves from the Golouma Style deposits prior to CIL treatment. The Masato Deposit's measured and indicated resources contain 1,640,692 ounces of gold. The open pittable mineable reserves total 10,154,000 tonnes containing 460,000 ounces of gold at a diluted grade of 1.41 g/t Au is based on drilling to January 2010 (See September 22, 2010 news release and November 9 Short Form Prospectus for details).
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 Results
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Inter- Gold
Drill Grid Azimuth/ val Grade
Deposit Hole Co-Ordinate Dip From-To (m) (m) (g/t)
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KEREKOUNDA DH-896 54484N/15298E 055/-78 124-125 1 13.75
363-377 14 4.13
incl.363-369 6 8.26
DH-900 54461N/15311E 055/-71 334-348 14 10.05
incl.337-341 4 29.85
incl.339-340 1 67.76
DH-883(i) 54674N/15222E 060/-60 276-284 8 3.47
DH-849(i) 54484N/15298E 055/-69 322-333 11 8.02
incl.327-332 5 13.85
DH-855(i) 54505N/15199E 060/-62 372-375 3 10.19
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GOLOUMA DH-901 53781N/14204E 144/-64 195-199 4 2.90
WEST incl.198-199 1 6.86
315-350 35 4.03
incl.324-343 19 5.41
and 324-330 6 7.66
DH-863(i) 53272N/14845E 015/-60 232-239 7 2.67
incl.237-239 2 6.67
DH-865(i) 53095N/14598E 015/-75 337-339 2 4.28
DH-868(i) 53718N/14303E 107/-78 210-215 5 10.14
incl.211-213 2 16.99
DH-889(i) 53745N/14302E 110/-77 203-206 3 3.06
DH-892(i) 53822N/14185E 148/-64 330-337 7 8.12
incl.330-331 1 47.55
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GOLOUMA DH-857(i) 53117N/14926E 110/-60 286-288 2 4.46
SOUTH DH-860(i) 53139N/14905E 110/-60 286-292 6 15.09
incl.289-290 1 35.99
310-316 6 3.85
DH-862(i) 53144N/14865E 110/-60 352-358 6 7.05
incl.355-357 2 18.29
363-366 3 2.77
DH-866(i) 53095N/14900E 110/-60 276-280 4 2.91
incl.279-280 1 9.14
370-371 5 2.39
DH-869(i) 53119N/14870E 110/-60 320-326 6 3.19
370-371 1 8.09
DH-873(i) 53043N/14933E 110/-60 284-288 4 3.79
DH-519(i) 53175N/14942E 110/-60 262-273 11 8.26
incl.271-272 1 44.86
DH-848(i) 53200N/14952E 123/-61 257-269 12 4.15
incl.261-267 6 7.06
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KOUROULOULOU DH-837(i) 53475N/15309E 030/-65 275-282 7 49.82
incl.280-282 2 164.47
and 281-282 1 287.80
DH-853(i) 53530N/15384E 035/-70 197-204 7 11.18
incl.203-204 1 65.29
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(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 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 below planned open pit
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Grid Azimuth/ From - To Interval Gold Grade
Deposit Drill Hole Co-Ordinate Dip (m) (m) (g/t)
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MASATO DH-894 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 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 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 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
DH-859(i) 59812N/14504E 110/-63 204-216 12 1.94
incl.206-208 2 4.86
DH-864(i) 59827N/14462E 110/-63 226-241 15 6.12
incl.230-236 6 11.63
and 235-236 1 36.68
DH-867(i) 59820N/14483E 110/-63 185-188 3 5.13
206-221 15 2.06
229-230 1 28.26
DH-872(i) 59867N/14443E 111/-62 164-169 5 3.18
DH-874(i) 59679N/14463E 111/-62 189-203 14 1.36
incl.189-195 6 2.06
DH-875(i) 59720N/14466E 110/-63 166-168 2 6.78
180-186 6 2.17
215-220 5 2.85
DH-876(i) 59750N/14503E 110/-63 203-207 4 3.38
DH-877(i) 59712N/14488E 109/-63 164-167 3 3.46
DH-878(i) 59758N/14482E 110/-63 193-203 10 4.05
DH-879(i) 59774N/14439E 109/-63 198-206 8 2.45
DH-881(i) 59767N/14461E 109/-63 204-206 2 4.13
DH-882(i) 59573N/14469E 115/-62 100-104 4 3.03
141-144 3 2.77
150-154 4 2.50
DH-884(i) 59624N/14446E 115/-68 143-145 2 4.73
186-190 4 4.12
incl.186-188 2 7.62
224-246 22 1.34
incl.231-242 11 2.08
and 240-242 2 5.71
DH-885(i) 59517N/14451E 115/-68 122-126 4 2.86
162-165 3 2.46
221-229 8 2.02
incl.222-224 2 3.79
DH-886(i) 59624N/14445E 115/-76 143-148 5 1.77
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Masato Deposit Results below planned open pit
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Grid Azimuth/ From - To Interval Gold Grade
Deposit Drill Hole Co-Ordinate Dip (m) (m) (g/t)
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164-179 15 6.45
incl.172-179 7 12.61
and 173-175 2 37.60
197-203 6 1.80
226-227 1 14.76
253-261 8 2.19
326-331 5 2.37
incl.299-300 2 3.56
DH-888(i) 59592N/14423E 115/-66 130-134 4 2.21
167-181 14 2.10
incl.178-181 3 4.05
221-235 14 1.74
incl.233-235 2 3.95
DH-890(i) 59495N/14451E 115/-65 144-156 12 1.44
180-190 10 4.35
incl.181-184 3 8.49
200-214 14 3.29
incl.203-207 4 7.42
235-244 9 3.78
incl.235-238 3 5.31
DH-891(i) 59592N/14425E 115/-74 150-160 10 2.21
incl.150-154 4 3.63
172-192 20 2.56
incl.187-192 5 5.14
209-216 7 3.16
211-213 2 5.08
301-312 11 1.98
incl.304-307 3 3.46
DH-893(i) 59509N/14422E 115/-65 105-108 3 2.99
148-163 15 2.01
incl.151-153 2 3.22
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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 2 metres. The
attitude of mineralized intervals varies and reported mineralized
intersections may not represent true widths.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Oromin Explorations Ltd.
David Scott
Investor Relations
(604) 331-8772 or Toll-free: (877) 529-8475
Fax: (604) 331-8773(FAX)
dscott@mine-tech.com
www.oromin.com
Source: Oromin Explorations Ltd.
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