Oracle Mining Intercepts More High-Grade Copper at Oracle Ridge
2011年10月19日 - 7:00PM
Marketwired
Oracle Mining Corp. ("Oracle Mining" or the "Corporation") (TSX
VENTURE:OMN)(OTCQX:OMCCF) is pleased to announce additional assay
drill results at the Corporation's Oracle Ridge Copper Mine in
southern Arizona.
Of the 10 holes being reported today, seven holes intersected
high-grade copper mineralization in areas extending beyond the
previously known mineralization.
Highlights include 24 feet of 3.09% copper in Drill Hole ODH006,
30 feet of 3.45% copper in ODH007 and 35 feet of 2.70% in ODH008.
The following tabulates the mineralized zones intersected in the
assay drill results.
---------------------------------------------------------------------------
Inter-
Drill From To val Cu Au Ag Fe
Hole (feet) (feet) (feet) (%) (opt) (opt) (%) Zone Formation
---------------------------------------------------------------------------
ODH001 829 837.5 8.5 1.11 0.000 0.100 3.74 Martin
------------------------------------------------------- ----------
And 853 863 10.0 2.09 0.001 0.385 8.60
------------------------------------------------------- 9
And 883 898 15.0 2.08 0.011 0.830 7.39 Abrigo
-------------------------------------------------------
Includes 888 898 10.0 2.51 0.013 1.085 8.23
---------------------------------------------------------------------------
ODH002 209.5 224 14.5 1.41 0.007 0.414 9.77
-------------------------------------------------------
And 263 283 20.0 1.94 0.006 0.591 4.24 2 Martin
-------------------------------------------------------
Includes 263 273 10.0 2.77 0.009 0.930 1.74
---------------------------------------------------------------------------
And 315 335 20.0 1.27 0.004 0.355 4.96 Abrigo
------------------------------------------------------- ----------
And 352 398.5 46.5 1.51 0.005 0.308 10.59 1
------------------------------------------------------- Abrigo
Includes 362 391 29.0 1.79 0.004 0.261 13.04
---------------------------------------------------------------------------
ODH003 389.5 398 8.5 3.48 0.012 0.791 6.33 New Zone Escabrosa
---------------------------------------------------------------------------
And 468 503 35.0 1.22 0.004 0.279 7.83 4 Escabrosa
Extension
---------------------------------------------------------------------------
And 624 634 10.0 1.73 0.007 0.230 9.69 2 Martin
Extension
---------------------------------------------------------------------------
ODH004 986 994.5 8.5 1.61 0.009 0.375 13.96 8 Martin
---------------------------------------------------------------------------
And 1086 1106 20.0 1.28 0.009 0.520 7.52 8 Abrigo
Extension
---------------------------------------------------------------------------
ODH005 1038.5 1048 9.5 2.18 0.005 0.442 11.45 12 Martin
Extension
---------------------------------------------------------------------------
and 1176 1216 40 1.59 0.008 0.369 7.27
------------------------------------------------------- 8 Abrigo
includes 1181 1206 25 2.08 0.009 0.494 8.72
---------------------------------------------------------------------------
and 1286 1315 29 1.76 0.002 0.383 15.47
------------------------------------------------------- 8 Abrigo
includes 1301 1315 14 2.67 0.001 0.687 17.19
---------------------------------------------------------------------------
ODH006 306 316 10.0 2.06 0.005 0.495 9.38 New Zone Escabrosa
---------------------------------------------------------------------------
And 360 373.5 13.5 1.35 0.007 0.259 15.15
------------------------------------------------------- 4 Martin
And 392 426 34.0 2.58 0.012 0.608 17.54 Extension
-------------------------------------------------------
Includes 397 421 24.0 3.09 0.015 0.800 18.56
---------------------------------------------------------------------------
ODH007 247.5 262 14.5 1.59 0.004 0.39 13.88 New Zone Escabrosa
---------------------------------------------------------------------------
And 306 355 49.0 2.66 0.010 0.70 15.76 4
------------------------------------------------------- Extension Martin
Includes 325 355 30.0 3.45 0.015 0.99 18.84
---------------------------------------------------------------------------
ODH008 461 471 10.0 2.23 0.000 0.665 1.87
------------------------------------------------------- 2 Martin
And 556 571 15.0 1.86 0.008 0.547 10.35
---------------------------------------------------------------------------
And 611 626 15.0 1.93 0.009 0.753 3.82
-------------------------------------------------------
Includes 611 621 10.0 2.35 0.011 0.930 4.01
------------------------------------------------------- 1 Abrigo
And 658 703 45.0 2.32 0.004 0.557 9.91
-------------------------------------------------------
Includes 668 703 35.0 2.70 0.004 0.619 11.34
---------------------------------------------------------------------------
ODH009 Assays Pending
---------------------------------------------------------------------------
ODH0010 618 633 15 1.74 0.011 0.373 12.75 4 Escabrosa
Extension
---------------------------------------------------------------------------
ODH011 525 565 40.0 1.94 0.010 0.395 17.09 4
------------------------------------------------------- Extension Escabrosa
Includes 525 540 15.0 3.19 0.015 0.633 24.35
---------------------------------------------------------------------------
Intervals were calculated using an external 1.0% copper cut-off
and may include internal waste to reflect a potential mineable
width. True widths will need to be modeled but are believed to be
70-to-100% of the stated interval length. Intervals labeled
"Includes" are higher-grade portions of the previous listed
interval. Assays for copper, silver, gold and iron were performed
by Skyline Labs of Tucson, Arizona on split core samples using
standard industry accepted techniques.
These holes were drilled as part of the Corporation's ongoing
historic data base confirmation program. The successful completion
of the validation program will allow the Corporation to undertake a
NI 43-101 compliant resource estimation. Results to date compare
well with the historic data.
The technical information in this media release has been
prepared in accordance with Canadian regulatory requirements set
out in National Instrument 43-101 and reviewed by Glenn R. Clark,
P.Eng. of Glenn R. Clark & Associates Limited, a consultant for
Oracle Mining and a Qualified Person under NI 43-101, who is
responsible for the technical information reported herein.
"We are very pleased with these most recent drill assay results
and the intercepts that were drilled in order to verify the old
data compare favorably to historical data," said Mr. Paul Eagland,
Oracle Mining's CEO. "In addition, the intercepts that are
extensions to known mineralization zones support our belief that
there is significant upside in the exploration potential to the
Oracle Ridge project."
Oracle Mining currently has three surface drill rigs on site
and, based on assay information provided by the confirmation
drilling in progress, the Corporation expects to complete a NI
43-101 technical report prior to the end of the 2011.
About Oracle Mining Corp.
Oracle Mining Corp. (TSX VENTURE:OMN)(OTCQX:OMCCF) is a
Vancouver, Canada-based corporation with a focus on uncovering
overlooked deep-value projects to achieve superior shareholder
returns. The Corporation is the sole owner and operator of Oracle
Ridge Mining LLC and copper mine located 24 km northeast of Tucson,
Arizona. Oracle Mining has cash on hand of approximately $12
million, minimal long-term debt and is managed by an experienced
team of mining professionals with extensive operating and financial
experience.
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accuracy of this release.
Contacts: Oracle Mining Corp. Mr. Alex Langer Corporate
Communications 604-689-9293 Oracle Mining Corp. Mr. Jason Mercier
Corporate Secretary
604-689-9261info@oracleminingcorp.comwww.oracleminingcorp.com
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