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4 Freunde fürs Leben?
Chet Idziszek
President and Director
In 1990, Mr. Idziszek received the "Mining Man of the Year" award in recognition of his vital role in the discovery and development of the Eskay Creek gold deposit in Canada, as well as the prestigious "Prospector of the Year Award for 1994" in recognition of the major role he played in the discovery and development of the Eskay Creek gold deposit, as well as for his leadership of Adrian Resources Ltd. during its exploration and development of the Petaquilla copper-gold-silver-moly deposits in the Republic of Panama. He also served as director of Arequipa Resources Ltd., which discovered the Pierina gold deposit that was subsequently acquired by Barrick Gold Corp. in mid-1996 for more than $1 billion.
James G. Stewart
Secretary and Corporate Counsel and Director
Mr. Stewart has practiced law in both private practice and as corporate counsel since 1984. He has extensive experience in the fields of mining, corporate and securities law. Mr. Stewart has served as a director of senior officer for a number of publicly traded companies including Prime Equities ltd., Adrian Resources Ltd., Buffalo Gold Ltd. and Madison Minerals Inc.
Douglas S. Turnbull
Director
Mr. Turnbull is a consulting geologist and President of Lakehead Geological Services Inc., a geological consulting company based in Vancouver, Canada. He brings to Oromin, over 20 years experience in diamond, precious and base metal exploration. Mr. Turnbull holds a Honours Bachelor of Science degree in Geology and is a Qualified Professional Geoscientist recognized by the Association of Professional Engineers and Geoscientists of British Columbia. Mr. Turnbull's previous working and consulting experience includes Monopros Ltd., the Ontario Geological Survey, Goldfields Mining Corporation, Prime Exploration Ltd., Adrian Resources Ltd., and Madison Enterprises Corp. Mr. Turnbull has been fortunate to have been part of exploration teams responsible for the exploration and development of the Eskay Creek Gold Deposit in British Columbia, Canada, the Petaquilla Cu-Au Porphyry Deposit in Panama and the Mt. Kare Gold Deposit in Papua New Guinea. Currently Mr. Turnbull is currently the President of Centrasia Mining Corporation and serves as a director on the boards of Buffalo Gold Ltd. and Grizzly Diamonds Ltd.
David Mallo
Vice-President Exploration (Minerals)
Mr. Mallo has over 20 years experience as an exploration geologist. After graduation from Brandon University with a degree in geology, he commenced his career as a geologist with Gold Fields Mining Corporation. Other [previous working experience includes geological positions with Prime Resources Ltd., [b]Adrian Resources Ltd[/b] and Madison Minerals Inc. Mr. Mallo was an integral art of the geological teams responsible for exploration of Eskay Creek gold deposit in British Columbia, Canada, the Petaquilla copper gold porphyry deposit in Panama and the Mt. Kare gold deposit in Papua New Guinea.#
http://www.oromin.com
http://www.grandich.com/docs/GL_07-19-06_ole.pdf
esco7
Chet Idziszek
President and Director
In 1990, Mr. Idziszek received the "Mining Man of the Year" award in recognition of his vital role in the discovery and development of the Eskay Creek gold deposit in Canada, as well as the prestigious "Prospector of the Year Award for 1994" in recognition of the major role he played in the discovery and development of the Eskay Creek gold deposit, as well as for his leadership of Adrian Resources Ltd. during its exploration and development of the Petaquilla copper-gold-silver-moly deposits in the Republic of Panama. He also served as director of Arequipa Resources Ltd., which discovered the Pierina gold deposit that was subsequently acquired by Barrick Gold Corp. in mid-1996 for more than $1 billion.
James G. Stewart
Secretary and Corporate Counsel and Director
Mr. Stewart has practiced law in both private practice and as corporate counsel since 1984. He has extensive experience in the fields of mining, corporate and securities law. Mr. Stewart has served as a director of senior officer for a number of publicly traded companies including Prime Equities ltd., Adrian Resources Ltd., Buffalo Gold Ltd. and Madison Minerals Inc.
Douglas S. Turnbull
Director
Mr. Turnbull is a consulting geologist and President of Lakehead Geological Services Inc., a geological consulting company based in Vancouver, Canada. He brings to Oromin, over 20 years experience in diamond, precious and base metal exploration. Mr. Turnbull holds a Honours Bachelor of Science degree in Geology and is a Qualified Professional Geoscientist recognized by the Association of Professional Engineers and Geoscientists of British Columbia. Mr. Turnbull's previous working and consulting experience includes Monopros Ltd., the Ontario Geological Survey, Goldfields Mining Corporation, Prime Exploration Ltd., Adrian Resources Ltd., and Madison Enterprises Corp. Mr. Turnbull has been fortunate to have been part of exploration teams responsible for the exploration and development of the Eskay Creek Gold Deposit in British Columbia, Canada, the Petaquilla Cu-Au Porphyry Deposit in Panama and the Mt. Kare Gold Deposit in Papua New Guinea. Currently Mr. Turnbull is currently the President of Centrasia Mining Corporation and serves as a director on the boards of Buffalo Gold Ltd. and Grizzly Diamonds Ltd.
David Mallo
Vice-President Exploration (Minerals)
Mr. Mallo has over 20 years experience as an exploration geologist. After graduation from Brandon University with a degree in geology, he commenced his career as a geologist with Gold Fields Mining Corporation. Other [previous working experience includes geological positions with Prime Resources Ltd., [b]Adrian Resources Ltd[/b] and Madison Minerals Inc. Mr. Mallo was an integral art of the geological teams responsible for exploration of Eskay Creek gold deposit in British Columbia, Canada, the Petaquilla copper gold porphyry deposit in Panama and the Mt. Kare gold deposit in Papua New Guinea.#
http://www.oromin.com
http://www.grandich.com/docs/GL_07-19-06_ole.pdf
esco7
February 1, 2007
....Before we get to this PR below, I want you consider two things. The first is that MDL or Mineral Deposits Limited is a Company out of Australia that has a property contiguous to Sabodala. It is of a much smaller scale and they have proven up a resource in the vicinity of a million ounces of gold. I’ve mentioned this before but I’m reiterating it because the two properties are literally “connected at the hip”.
The second is that when we first started covering Oromin in September of 2005, the share price was in the vicinity of $.40 US. Today the price is in the vicinity of $1.75 so we’re looking at about a 300% increase. I believe that with the work being under-taken and with the progress being made in Sabodala, this could just be the beginning of a major move forward both in share price and in terms of the progress being made on the project.
Those are but a few of the reasons why I’m putting Oromin at the top of my list now and why it’s been there for so long. Remember, that I am employed by the company; the same company that also controls Madison Minerals, and Lund Gold. I am a very big believer in Madison Minerals and have been for five years or so. I’m telling you this so you realize that I’ve followed these companies carefully for a very long time and patience has been required. But that is simply the nature of this business. Pa-tience, Patience, and more Patience and then all heck breaks loose. I believe that we are at that point when all heck is going to break loose, on Oromin, on Madison, and on many of the companies I've listed. Some of which I work for and some of which I do not.
http://news.goldseek.com/StewartArmstrong/
....Before we get to this PR below, I want you consider two things. The first is that MDL or Mineral Deposits Limited is a Company out of Australia that has a property contiguous to Sabodala. It is of a much smaller scale and they have proven up a resource in the vicinity of a million ounces of gold. I’ve mentioned this before but I’m reiterating it because the two properties are literally “connected at the hip”.
The second is that when we first started covering Oromin in September of 2005, the share price was in the vicinity of $.40 US. Today the price is in the vicinity of $1.75 so we’re looking at about a 300% increase. I believe that with the work being under-taken and with the progress being made in Sabodala, this could just be the beginning of a major move forward both in share price and in terms of the progress being made on the project.
Those are but a few of the reasons why I’m putting Oromin at the top of my list now and why it’s been there for so long. Remember, that I am employed by the company; the same company that also controls Madison Minerals, and Lund Gold. I am a very big believer in Madison Minerals and have been for five years or so. I’m telling you this so you realize that I’ve followed these companies carefully for a very long time and patience has been required. But that is simply the nature of this business. Pa-tience, Patience, and more Patience and then all heck breaks loose. I believe that we are at that point when all heck is going to break loose, on Oromin, on Madison, and on many of the companies I've listed. Some of which I work for and some of which I do not.
http://news.goldseek.com/StewartArmstrong/
....
A Review of Some of Our “Junior” Investment Ideas
Recently, there have been some excellent buys in the junior mining sector. If you believe as I do that gold will soon break $700 to the upside, might I suggest:
1. Oromin Resources (OLEPF.OTC)
2. Madison Minerals (MMRSF.OTC)
3. Geocom Resources (GOCM.OTC)
4. Scorpio Mining (SMX.CA)
5. Samex Mining (SMXMF.OTC)
6. Buffalo Gold (BYBUF.OTC)
7. Golden Phoenix (GPXM.OTC) {Molybdenum, Gold and Silver}
8. Win-Eldrich (WEX.V) {Molybdenum}
These are investment ideas of the “high risk-high reward” variety. I have recommended many of them in the past. I shall be doing additional write-ups on many of them in the near future. Some of the prices have been off due to a lack of bids, not a deluge of selling.
I still believe that Oromin Resources has a very bright future and the recent press release appears to bear that out. Madison Minerals is another one that has gotten into the realm of the “ridiculously inexpensive” especially given their assets. Geocom is still another to review carefully.
But these ideas are just one man’s opinion and you need to do your own due diligence. I believe that the share prices of these companies will move substantially higher as soon as gold takes out that $700 level—even the silver plays.
If you’d like to be added to our mailing list, please do send your name and address to consulting@seacoastpub.com. All information is kept in the strictest of confidence.
I will soon be launching www.seacoastconsulting.com which is currently under construction. It will be a free site and allow me to post shorter articles in a more timely fashion.
After all it is the summer doldrums and I’ve been taking advantage of them.
Until Next Time,
D. Stewart Armstrong
http://news.goldseek.com/StewartArmstrong/1183945800.php
°°°°°°°°°°°°°°°°°°°°°°°^
Solange im Senegal politisch alles stabil bleibt geht da noch einiges.
esco7
A Review of Some of Our “Junior” Investment Ideas
Recently, there have been some excellent buys in the junior mining sector. If you believe as I do that gold will soon break $700 to the upside, might I suggest:
1. Oromin Resources (OLEPF.OTC)
2. Madison Minerals (MMRSF.OTC)
3. Geocom Resources (GOCM.OTC)
4. Scorpio Mining (SMX.CA)
5. Samex Mining (SMXMF.OTC)
6. Buffalo Gold (BYBUF.OTC)
7. Golden Phoenix (GPXM.OTC) {Molybdenum, Gold and Silver}
8. Win-Eldrich (WEX.V) {Molybdenum}
These are investment ideas of the “high risk-high reward” variety. I have recommended many of them in the past. I shall be doing additional write-ups on many of them in the near future. Some of the prices have been off due to a lack of bids, not a deluge of selling.
I still believe that Oromin Resources has a very bright future and the recent press release appears to bear that out. Madison Minerals is another one that has gotten into the realm of the “ridiculously inexpensive” especially given their assets. Geocom is still another to review carefully.
But these ideas are just one man’s opinion and you need to do your own due diligence. I believe that the share prices of these companies will move substantially higher as soon as gold takes out that $700 level—even the silver plays.
If you’d like to be added to our mailing list, please do send your name and address to consulting@seacoastpub.com. All information is kept in the strictest of confidence.
I will soon be launching www.seacoastconsulting.com which is currently under construction. It will be a free site and allow me to post shorter articles in a more timely fashion.
After all it is the summer doldrums and I’ve been taking advantage of them.
Until Next Time,
D. Stewart Armstrong
http://news.goldseek.com/StewartArmstrong/1183945800.php
°°°°°°°°°°°°°°°°°°°°°°°^
Solange im Senegal politisch alles stabil bleibt geht da noch einiges.
esco7
OROMIN CLOSES $4.5 MILLION NON-BROKERED PORTION OF $18.0 MILLION
PRIVATE PLACEMENT,
FULL $18.0 MILLION PRIVATE PLACEMENT NOW CLOSED
Further to its news releases dated November 15, 2007, Oromin Explorations Ltd. is pleased
to report that it has closed the non-brokered portion of the private placement of 1,800,000
units at a price of $2.50 per unit to generate gross proceeds of $4,500,000. Each unit
consists of one share and one half share purchase warrant, with every whole warrant
entitling the purchase of one additional share of Oromin at $3.30 per share until November
26, 2009. If for a period of 20 consecutive trading days, between four months following the
closing date and until the expiry date of the warrants, the closing price of Oromin’s shares
equals or exceeds $5.00, Oromin may give notice in writing that the warrants will expire on
the 21st day following delivery of such notice.
On November 15, 2007, Oromin closed the brokered portion of the private placement of
5,400,000 units at a price of $2.50 per unit generating gross proceeds of $13,500,000.
Cash finders’ fees of 8% of $4,500,000 are payable to arms’ length third parties with respect
to this private placement.
All securities issued pursuant to this placement are subject to a four-month hold period
expiring on March 27, 2008.
The funds will be used primarily to fund work on the Sabodala Property in eastern Sénégal.
To find out more about Oromin Explorations Ltd. (TSX-V:OLE), visit www.oromin.com.
On behalf of the Board of Directors of
OROMIN EXPLORATIONS LTD.
Chet Idizszek
Chet Idziszek, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY
FOR THE ADEQUACY AND ACCURACY OF THIS RELEASE
PRIVATE PLACEMENT,
FULL $18.0 MILLION PRIVATE PLACEMENT NOW CLOSED
Further to its news releases dated November 15, 2007, Oromin Explorations Ltd. is pleased
to report that it has closed the non-brokered portion of the private placement of 1,800,000
units at a price of $2.50 per unit to generate gross proceeds of $4,500,000. Each unit
consists of one share and one half share purchase warrant, with every whole warrant
entitling the purchase of one additional share of Oromin at $3.30 per share until November
26, 2009. If for a period of 20 consecutive trading days, between four months following the
closing date and until the expiry date of the warrants, the closing price of Oromin’s shares
equals or exceeds $5.00, Oromin may give notice in writing that the warrants will expire on
the 21st day following delivery of such notice.
On November 15, 2007, Oromin closed the brokered portion of the private placement of
5,400,000 units at a price of $2.50 per unit generating gross proceeds of $13,500,000.
Cash finders’ fees of 8% of $4,500,000 are payable to arms’ length third parties with respect
to this private placement.
All securities issued pursuant to this placement are subject to a four-month hold period
expiring on March 27, 2008.
The funds will be used primarily to fund work on the Sabodala Property in eastern Sénégal.
To find out more about Oromin Explorations Ltd. (TSX-V:OLE), visit www.oromin.com.
On behalf of the Board of Directors of
OROMIN EXPLORATIONS LTD.
Chet Idizszek
Chet Idziszek, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY
FOR THE ADEQUACY AND ACCURACY OF THIS RELEASE
15:20:53 V 2.90 +0.04 50,000 80 National Bank 62 Haywood K
15:19:04 V 2.90 +0.04 60,600 80 National Bank 1 Anonymous K
15:12:47 V 2.90 +0.04 50,000 80 National Bank 1 Anonymous K
15:10:29 V 2.90 +0.04 14,400 80 National Bank 1 Anonymous K
14:54:41 V 2.90 +0.04 400 80 National Bank 79 CIBC K
14:42:47 V 2.90 +0.04 5,200 80 National Bank 1 Anonymous K
14:15:03 V 2.90 +0.04 10,000 46 Blackmont 1 Anonymous K
14:15:03 V 2.90 +0.04 9,800 80 National Bank 1 Anonymous K
14:13:16 V 2.90 +0.04 900 80 National Bank 80 National Bank K
13:29:45 V 2.94 +0.08 100 80 National Bank 80 National Bank K
15:19:04 V 2.90 +0.04 60,600 80 National Bank 1 Anonymous K
15:12:47 V 2.90 +0.04 50,000 80 National Bank 1 Anonymous K
15:10:29 V 2.90 +0.04 14,400 80 National Bank 1 Anonymous K
14:54:41 V 2.90 +0.04 400 80 National Bank 79 CIBC K
14:42:47 V 2.90 +0.04 5,200 80 National Bank 1 Anonymous K
14:15:03 V 2.90 +0.04 10,000 46 Blackmont 1 Anonymous K
14:15:03 V 2.90 +0.04 9,800 80 National Bank 1 Anonymous K
14:13:16 V 2.90 +0.04 900 80 National Bank 80 National Bank K
13:29:45 V 2.94 +0.08 100 80 National Bank 80 National Bank K
Trading Spotlight
Oromin drills one metre of 3,945 g/t Au at Masato
2007-12-19 08:47 ET - News Release
Mr. Chet Idizszek reports:
OROMIN EXPLORATIONS LTD.: EXCELLENT DRILL RESULTS AT GOLOUMA WEST, GOLOUMA SOUTH AND MASATO GOLD DEPOSITS ADD TO LATERAL AND DEPTH EXPANSION
Oromin Explorations Ltd. (TSX VENTURE: OLE)(OTCBB: OLEPF) -
HIGHLIGHTS
* At Masato DH-131 intersects a 20 metre mineralized zone including 3.22 g/t gold over 5 metres, followed by 3,945.50 g/t gold over 1 metre (visible gold observed) and then 3.56 g/t gold over 14 metres.
* At Golouma South DH-150 intersects the deepest mineralization to-date; 9.05 g/t gold over 8 metres and 5.08 g/t gold over 19 metres.
* At Golouma West DH-156 intersects three mineralized zones; 45.03 g/t gold over 5 metres, 11.29 g/t gold over 10 metres and 7.77 g/t gold over 7 metres.
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.
Oromin's 2007 and 2008 advanced exploration programs are focused on resource delineation of its Sabodala Gold Project's numerous gold zones and gold deposits. More than 75,000 metres of drilling is planned in advance of the Project's initial resource estimate scheduled for April 2008. Results from the ongoing property-wide exploration program continue to support Oromin's model of multiple gold deposits within the Sabodala Project. Please refer to general maps displayed under "investor info/articles and reports" on Oromin's website and Oromin's previous news releases for additional project information.
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.
Newly drilled mineralized intersections are listed in the attached schedule; some of the most significant are:
* 12 metres of 8.74 g/t gold from 49 metres in DH-132
* 6 metres of 10.08 g/t gold from 37 metres in DH-145
* 8 metres of 3.54 g/t gold from 57 metres in DH-147
* 16 metres of 2.11 g/t/gold from 301 metres in DH-149
* 13 metres of 6.07 g/t gold from 82 metres in DH-152
* 10 metres of 6.91 g/t gold from 128 metres in DH-154
* 5 metres of 45.03 g/t gold from 17 metres, 10 metres of 11.29 g/t gold from 142 metres and 7 metres of 7.77 g/t gold from 165 metres in DH-156
* 7 metres of 25.58 g/t gold from 138 metres in DH-157
* 7 metres of 13.41 g/t gold from 31 metres in DH-161
* 7 metres of 6.51 g/t gold from 71 metres in DH-163
* 17 metres of 3.36 g/t gold from 166 metres in DH-165
* 18 metres of 4.80 g/t gold from 238 metres in DH-168
GOLOUMA SOUTH GOLD DEPOSIT
The Golouma South Gold Deposit has now been traced over 1,000 metres on surface, to 220 metres 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.
Newly drilled mineralized intersections are listed on the attached schedule; some of the most significant are:
* 7 metres of 7.12 g/t gold from 44 metres in DH-138
* 10 metres of 3.70 g/t gold from 15 metres in DH-140
* 8 metres of 9.08 g/t gold from 192 metres and 19 metres of 5.08 g/t gold from 229 metres in DH-150
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. Oromin's Masato Gold Deposit 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 Masato geochemical anomaly is also coincident with three extensive NE-trending, linear IP changeability anomalies of which only the westernmost has been drilled to date. Oromin has recently initiated in-fill drilling at 40-metre centres over portions of this large mineralized zone using both reverse circulation and diamond core rigs.
Newly drilled mineralized intersections are listed in the attached schedule; some of the most significant are:
* 5 metres of 3.22 g/t gold from 58 metres, 1 metre of 3,945.50 g/t gold from 63 metres (visible gold observed) and 14 metres of 3.56 g/t gold from 64 metres in DH-131
* 7 metres of 3.95 g/t gold from 53 metres in DH-135
* 4 metres of 3.57 g/t gold from 73 metres in DH-141
Oromin's 2007 field program has concluded for the Christmas break with field activities scheduled to re-start in early January, 2008. An additional fifteen core holes and forty reverse circulation holes were completed in 2007 for which assays are pending.
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 also verified the data disclosed in this news release. TSL Laboratories in Saskatoon, Saskatchewan carried out all assaying under industry-standard QA/QC procedures.
To find out more about Oromin Explorations Ltd. (TSX VENTURE: OLE), 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 results and 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.
SCHEDULE
Oromin Explorations Ltd.
Golouma West Gold Deposit
Mineralization Intersections
Drill Grid Azimuth/ From - To Interval Gold
Hole Section Co-ordinate Dip (m) (m) (g/t)
DH-132 640W 3624N/4417E 195/-65 22-25 3 12.8
49-61 12 8.74
Incl.56-57 1 58.57
DH-134(i) 680W 3760N/4407E 100/-70 62-65 3 3.38
DH-147 400W 3551N/4653E 015/-60 57-65 8 3.54
102-104 2 2.51
106-120 14 1.78
DH-149 760W 3512N/4263E 015/-60 301-317 16 2.11
321-326 5 3.05
DH-151 280W 3401N/4736E 015/-60 140-144 4 1.38
DH-152 280W 3437N/4746E 015/-60 82-95 13 6.07
Incl.90-91 1 46.33
DH-153(i) 720W 3690N/4348E 100/-55 100-106 6 10.08
Incl.100-102 2 20.87
DH-154(i) 720W 3690N/4348E 100/-80 128-138 10 6.91
Incl.131-133 2 19.69
DH-155 320W 3548N/4738E 015/-60 65-70 5 3.22
Incl.68-69 1 11.04
98-100 2 6.36
107-109 2 7.97
108-109 1 15.05
DH-156 320W 3500N/4721E 015/-60 0-4 4 2.39
17-22 5 45.03
Incl.20-21 1 216.8
115-117 2 3.30
142-152 10 11.29
Incl.148-149 1 49.35
165-172 7 7.77
Incl.169-170 1 34.40
DH-157 320W 3420N/4699E 015/-60 114-115 1 42.35
138-145 7 25.58
Incl.139-140 1 171.9
DH-158(i) 680W 3683N/4387E 100/-60 66-69 3 2.02
DH-159(i) 720W 3726N/4362E 100/-55 106-114 8 1.11
DH-160 320W 3582N/4746E 015/-50 1-8 7 3.01
DH-161 280W 3608N/4795E 195/-60 17-23 6 1.83
31-38 7 13.41
Incl.35-37 2 30.42
DH-162(i) 720W 3727N/4360E 100/-80 140-144 4 15.65
Incl.142-144 2 25.31
DH-163 280W 3642N/4804E 195/-60 71-78 7 6.51
Incl.77-78 1 18.38
81-87 6 2.34
DH-164(i) 640W 3713N/4439E 100/-60 33-35 2 2.60
DH-165 400W 3511N/4641E 015/-60 129-134 5 1.71
144-148 4 2.02
150-154 4 2.03
166-183 17 3.36
DH-166 200W 3353N/4811E 015/-60 135-141 6 2.84
DH-167 160W 3341N/4849E 015/-60 108-111 3 1.71
120-133 13 2.63
173-174 1 14.4
DH-168 240W 3288N/4755E 015/-60 238-256 18 4.80
Incl.254-256 2 18.83
DH-169 480W 3420N/4535E 015/-60 Results pending
DH-170(i) 680W 3807N/4409E 100/-50 44-47 3 3.58
DH-RC85EXT 520W 3520N/4520E 015/-60 213-216 3 1.09
DH-RC87EXT 520W 3477N/4503E 015/-60 266-270 4 2.57
DH-RC93EXT 640W 3417N/4440E 015/-60 171-189 18 1.79
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.
(i) These holes test the North-South trending mineralized zone which
intersects and merges with the East-West trending mineralized zones
of the Golouma West Deposit, as shown on the location maps on Oromin's
website.
SCHEDULE
Oromin Explorations Ltd.
Golouma South Gold Deposit
Mineralization Intersections
Drill Grid Azimuth/ From - To Interval Gold
Hole Section Co-ordinate Dip (m) (m) (g/t)
DH-138 095S 3031N/5130E 115/-55 44-51 7 7.12
73-46 3 3.13
79-82 3 2.23
DH-139 075S 3050N/5150E 115/-60 53-54 1 9.19
61-66 5 4.08
89-93 4 4.01
DH-140 200S 2916N/5138E 115/-55 0-11 11 1.87
DH-143 130S 2992N/5159E 115/-45 15-25 10 3.70
DH-144 050S 3071N/5158E 115/-60 48-53 5 8.03
Incl.51-53 2 16.40
99-102 3 2.48
DH-145 050S 3061N/5180E 110/-55 7-12 5 2.91
37-43 6 10.08
Incl.37-40 3 17.52
DH-148 095S 3075N/5003E 110/-60 218-222 4 3.57
DH-150 130S 3048N/4990E 110/-60 69-70 1 10.22
192-200 8 9.05
Incl.197-198 1 47.84
219-223 4 2.00
229-248 9 5.08
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.
SCHEDULE
Oromin Explorations Ltd.
Masato Gold Deposit
Mineralization Intersections
Drill Grid Azimuth/ From - To Interval Gold
Hole Section Co-ordinate Dip (m) (m) (g/t)
DH-131(i) 180N 9660N/4585E 110/-45 31-43 12 1.77
49-54 5 2.32
58-63 5 3.22
63-64 1 3,945.50
64-78 14 3.56
DH-135 180N 9660N/4585E 110/-65 53-60 7 3.95
Incl.56-57 1 16.46
65-67 2 1.66
95-99 4 1.76
DH-136 100N 9590N/4534E 110/-45 38-45 7 2.02
68-75 7 1.69
DH-141 100N 9605N/5502E 110/-55 73-77 4 3.57
118-122 4 1.18
DH-142 100N 9605N/5502E 110/-70 87-91 4 1.47
120-124 4 1.89
151-155 4 2.15
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.
(i) Visible Gold observed.
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 or Toll Free: 1-877-529-8475
(604) 331-8773 (FAX)
Email: dscott@mine-tech.com
Website: www.oromin.com
2007-12-19 08:47 ET - News Release
Mr. Chet Idizszek reports:
OROMIN EXPLORATIONS LTD.: EXCELLENT DRILL RESULTS AT GOLOUMA WEST, GOLOUMA SOUTH AND MASATO GOLD DEPOSITS ADD TO LATERAL AND DEPTH EXPANSION
Oromin Explorations Ltd. (TSX VENTURE: OLE)(OTCBB: OLEPF) -
HIGHLIGHTS
* At Masato DH-131 intersects a 20 metre mineralized zone including 3.22 g/t gold over 5 metres, followed by 3,945.50 g/t gold over 1 metre (visible gold observed) and then 3.56 g/t gold over 14 metres.
* At Golouma South DH-150 intersects the deepest mineralization to-date; 9.05 g/t gold over 8 metres and 5.08 g/t gold over 19 metres.
* At Golouma West DH-156 intersects three mineralized zones; 45.03 g/t gold over 5 metres, 11.29 g/t gold over 10 metres and 7.77 g/t gold over 7 metres.
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.
Oromin's 2007 and 2008 advanced exploration programs are focused on resource delineation of its Sabodala Gold Project's numerous gold zones and gold deposits. More than 75,000 metres of drilling is planned in advance of the Project's initial resource estimate scheduled for April 2008. Results from the ongoing property-wide exploration program continue to support Oromin's model of multiple gold deposits within the Sabodala Project. Please refer to general maps displayed under "investor info/articles and reports" on Oromin's website and Oromin's previous news releases for additional project information.
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.
Newly drilled mineralized intersections are listed in the attached schedule; some of the most significant are:
* 12 metres of 8.74 g/t gold from 49 metres in DH-132
* 6 metres of 10.08 g/t gold from 37 metres in DH-145
* 8 metres of 3.54 g/t gold from 57 metres in DH-147
* 16 metres of 2.11 g/t/gold from 301 metres in DH-149
* 13 metres of 6.07 g/t gold from 82 metres in DH-152
* 10 metres of 6.91 g/t gold from 128 metres in DH-154
* 5 metres of 45.03 g/t gold from 17 metres, 10 metres of 11.29 g/t gold from 142 metres and 7 metres of 7.77 g/t gold from 165 metres in DH-156
* 7 metres of 25.58 g/t gold from 138 metres in DH-157
* 7 metres of 13.41 g/t gold from 31 metres in DH-161
* 7 metres of 6.51 g/t gold from 71 metres in DH-163
* 17 metres of 3.36 g/t gold from 166 metres in DH-165
* 18 metres of 4.80 g/t gold from 238 metres in DH-168
GOLOUMA SOUTH GOLD DEPOSIT
The Golouma South Gold Deposit has now been traced over 1,000 metres on surface, to 220 metres 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.
Newly drilled mineralized intersections are listed on the attached schedule; some of the most significant are:
* 7 metres of 7.12 g/t gold from 44 metres in DH-138
* 10 metres of 3.70 g/t gold from 15 metres in DH-140
* 8 metres of 9.08 g/t gold from 192 metres and 19 metres of 5.08 g/t gold from 229 metres in DH-150
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. Oromin's Masato Gold Deposit 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 Masato geochemical anomaly is also coincident with three extensive NE-trending, linear IP changeability anomalies of which only the westernmost has been drilled to date. Oromin has recently initiated in-fill drilling at 40-metre centres over portions of this large mineralized zone using both reverse circulation and diamond core rigs.
Newly drilled mineralized intersections are listed in the attached schedule; some of the most significant are:
* 5 metres of 3.22 g/t gold from 58 metres, 1 metre of 3,945.50 g/t gold from 63 metres (visible gold observed) and 14 metres of 3.56 g/t gold from 64 metres in DH-131
* 7 metres of 3.95 g/t gold from 53 metres in DH-135
* 4 metres of 3.57 g/t gold from 73 metres in DH-141
Oromin's 2007 field program has concluded for the Christmas break with field activities scheduled to re-start in early January, 2008. An additional fifteen core holes and forty reverse circulation holes were completed in 2007 for which assays are pending.
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 also verified the data disclosed in this news release. TSL Laboratories in Saskatoon, Saskatchewan carried out all assaying under industry-standard QA/QC procedures.
To find out more about Oromin Explorations Ltd. (TSX VENTURE: OLE), 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 results and 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.
SCHEDULE
Oromin Explorations Ltd.
Golouma West Gold Deposit
Mineralization Intersections
Drill Grid Azimuth/ From - To Interval Gold
Hole Section Co-ordinate Dip (m) (m) (g/t)
DH-132 640W 3624N/4417E 195/-65 22-25 3 12.8
49-61 12 8.74
Incl.56-57 1 58.57
DH-134(i) 680W 3760N/4407E 100/-70 62-65 3 3.38
DH-147 400W 3551N/4653E 015/-60 57-65 8 3.54
102-104 2 2.51
106-120 14 1.78
DH-149 760W 3512N/4263E 015/-60 301-317 16 2.11
321-326 5 3.05
DH-151 280W 3401N/4736E 015/-60 140-144 4 1.38
DH-152 280W 3437N/4746E 015/-60 82-95 13 6.07
Incl.90-91 1 46.33
DH-153(i) 720W 3690N/4348E 100/-55 100-106 6 10.08
Incl.100-102 2 20.87
DH-154(i) 720W 3690N/4348E 100/-80 128-138 10 6.91
Incl.131-133 2 19.69
DH-155 320W 3548N/4738E 015/-60 65-70 5 3.22
Incl.68-69 1 11.04
98-100 2 6.36
107-109 2 7.97
108-109 1 15.05
DH-156 320W 3500N/4721E 015/-60 0-4 4 2.39
17-22 5 45.03
Incl.20-21 1 216.8
115-117 2 3.30
142-152 10 11.29
Incl.148-149 1 49.35
165-172 7 7.77
Incl.169-170 1 34.40
DH-157 320W 3420N/4699E 015/-60 114-115 1 42.35
138-145 7 25.58
Incl.139-140 1 171.9
DH-158(i) 680W 3683N/4387E 100/-60 66-69 3 2.02
DH-159(i) 720W 3726N/4362E 100/-55 106-114 8 1.11
DH-160 320W 3582N/4746E 015/-50 1-8 7 3.01
DH-161 280W 3608N/4795E 195/-60 17-23 6 1.83
31-38 7 13.41
Incl.35-37 2 30.42
DH-162(i) 720W 3727N/4360E 100/-80 140-144 4 15.65
Incl.142-144 2 25.31
DH-163 280W 3642N/4804E 195/-60 71-78 7 6.51
Incl.77-78 1 18.38
81-87 6 2.34
DH-164(i) 640W 3713N/4439E 100/-60 33-35 2 2.60
DH-165 400W 3511N/4641E 015/-60 129-134 5 1.71
144-148 4 2.02
150-154 4 2.03
166-183 17 3.36
DH-166 200W 3353N/4811E 015/-60 135-141 6 2.84
DH-167 160W 3341N/4849E 015/-60 108-111 3 1.71
120-133 13 2.63
173-174 1 14.4
DH-168 240W 3288N/4755E 015/-60 238-256 18 4.80
Incl.254-256 2 18.83
DH-169 480W 3420N/4535E 015/-60 Results pending
DH-170(i) 680W 3807N/4409E 100/-50 44-47 3 3.58
DH-RC85EXT 520W 3520N/4520E 015/-60 213-216 3 1.09
DH-RC87EXT 520W 3477N/4503E 015/-60 266-270 4 2.57
DH-RC93EXT 640W 3417N/4440E 015/-60 171-189 18 1.79
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.
(i) These holes test the North-South trending mineralized zone which
intersects and merges with the East-West trending mineralized zones
of the Golouma West Deposit, as shown on the location maps on Oromin's
website.
SCHEDULE
Oromin Explorations Ltd.
Golouma South Gold Deposit
Mineralization Intersections
Drill Grid Azimuth/ From - To Interval Gold
Hole Section Co-ordinate Dip (m) (m) (g/t)
DH-138 095S 3031N/5130E 115/-55 44-51 7 7.12
73-46 3 3.13
79-82 3 2.23
DH-139 075S 3050N/5150E 115/-60 53-54 1 9.19
61-66 5 4.08
89-93 4 4.01
DH-140 200S 2916N/5138E 115/-55 0-11 11 1.87
DH-143 130S 2992N/5159E 115/-45 15-25 10 3.70
DH-144 050S 3071N/5158E 115/-60 48-53 5 8.03
Incl.51-53 2 16.40
99-102 3 2.48
DH-145 050S 3061N/5180E 110/-55 7-12 5 2.91
37-43 6 10.08
Incl.37-40 3 17.52
DH-148 095S 3075N/5003E 110/-60 218-222 4 3.57
DH-150 130S 3048N/4990E 110/-60 69-70 1 10.22
192-200 8 9.05
Incl.197-198 1 47.84
219-223 4 2.00
229-248 9 5.08
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.
SCHEDULE
Oromin Explorations Ltd.
Masato Gold Deposit
Mineralization Intersections
Drill Grid Azimuth/ From - To Interval Gold
Hole Section Co-ordinate Dip (m) (m) (g/t)
DH-131(i) 180N 9660N/4585E 110/-45 31-43 12 1.77
49-54 5 2.32
58-63 5 3.22
63-64 1 3,945.50
64-78 14 3.56
DH-135 180N 9660N/4585E 110/-65 53-60 7 3.95
Incl.56-57 1 16.46
65-67 2 1.66
95-99 4 1.76
DH-136 100N 9590N/4534E 110/-45 38-45 7 2.02
68-75 7 1.69
DH-141 100N 9605N/5502E 110/-55 73-77 4 3.57
118-122 4 1.18
DH-142 100N 9605N/5502E 110/-70 87-91 4 1.47
120-124 4 1.89
151-155 4 2.15
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.
(i) Visible Gold observed.
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 or Toll Free: 1-877-529-8475
(604) 331-8773 (FAX)
Email: dscott@mine-tech.com
Website: www.oromin.com
Antwort auf Beitrag Nr.: 32.821.531 von Pabella am 20.12.07 00:52:27http://www.oromin.com/download/December_18_2007.pdf
!
Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an feedback@wallstreet-online.de
Nichts für Lärmempfindliche:
http://www.youtube.com/watch?v=SF0oA-PhMpo&feature=related
Stamp Mills
This is the way gold ore is processed in Zim. These large machines Crush the rock into powder and then the gold is removed
Für Praktiker:
http://www.youtube.com/watch?v=0jXGbp8KJAo&feature=related
Popandson Sluice at Nome gold mine
Added: November 17, 2007
We worked a rich layer of pay gravel in a previously mined area and the take was 1/2oz gold from 34 buckets of gravel in 4 hours.
http://www.youtube.com/watch?v=_Fwc2kBT_tk&NR=1
Miner Mike's placer mine in Nome, Part 1
...der Hund bei 3:34 und 3:50 hat echt die Ruhe weg
http://www.youtube.com/watch?v=2akWVtmMLx4&NR=1
Miner Mike's placer mine in Nome, Part 2
http://www.youtube.com/watch?v=KdikUKNLCHY&feature=related
Goldman Engineering gold recovery
http://www.youtube.com/watch?v=NE6r3NkKEVw&feature=related
Gold prospecting
happy grabbing
esco7
http://www.youtube.com/watch?v=SF0oA-PhMpo&feature=related
Stamp Mills
This is the way gold ore is processed in Zim. These large machines Crush the rock into powder and then the gold is removed
Für Praktiker:
http://www.youtube.com/watch?v=0jXGbp8KJAo&feature=related
Popandson Sluice at Nome gold mine
Added: November 17, 2007
We worked a rich layer of pay gravel in a previously mined area and the take was 1/2oz gold from 34 buckets of gravel in 4 hours.
http://www.youtube.com/watch?v=_Fwc2kBT_tk&NR=1
Miner Mike's placer mine in Nome, Part 1
...der Hund bei 3:34 und 3:50 hat echt die Ruhe weg
http://www.youtube.com/watch?v=2akWVtmMLx4&NR=1
Miner Mike's placer mine in Nome, Part 2
http://www.youtube.com/watch?v=KdikUKNLCHY&feature=related
Goldman Engineering gold recovery
http://www.youtube.com/watch?v=NE6r3NkKEVw&feature=related
Gold prospecting
happy grabbing
esco7
Neues aus dem sozialen Umfeld:
In welcher Größenordnung bewegt sich dieser Preisanstieg und in welchem Verhältnis steht er zu den Löhnen?
Antwort:
Der durchschnittliche Lohn im Senegal liegt umgerechnet zwischen 80 und 100 Euro pro Monat. Viele Menschen haben aber keinen festen Lohn oder ein regelmäßiges Einkommen, sondern arbeiten im so genannten informellen Sektor, etwa als Weiterverkäufer von Waren auf der Straße. Das Einkommen dieser Menschen liegt weit unter dem derjenigen, die einen regulären Arbeitsplatz haben. Verschiedene offizielle Statistiken belegen, dass die Senegalesen im Durchschnitt mit höchstens zwei Euro am Tag auskommen müssen. Seit mehreren Monaten sind die Lebenshaltungskosten derart in gestiegen, dass viele Menschen sich nicht einmal mehr als eine Mahlzeit pro Tag leisten können. Die Milch kostet rund 46 Cents pro Liter; der Preis hat sich innerhalb weniger Monate fast verdoppelt. Reis, das wichtigste Grundnahrungsmittel im Senegal, ist im selben Zeitraum um fast die Hälfte teurer geworden.
http://jungle-world.com/artikel/2008/15/21551.html
°°°°°°°°°^
esco7
In welcher Größenordnung bewegt sich dieser Preisanstieg und in welchem Verhältnis steht er zu den Löhnen?
Antwort:
Der durchschnittliche Lohn im Senegal liegt umgerechnet zwischen 80 und 100 Euro pro Monat. Viele Menschen haben aber keinen festen Lohn oder ein regelmäßiges Einkommen, sondern arbeiten im so genannten informellen Sektor, etwa als Weiterverkäufer von Waren auf der Straße. Das Einkommen dieser Menschen liegt weit unter dem derjenigen, die einen regulären Arbeitsplatz haben. Verschiedene offizielle Statistiken belegen, dass die Senegalesen im Durchschnitt mit höchstens zwei Euro am Tag auskommen müssen. Seit mehreren Monaten sind die Lebenshaltungskosten derart in gestiegen, dass viele Menschen sich nicht einmal mehr als eine Mahlzeit pro Tag leisten können. Die Milch kostet rund 46 Cents pro Liter; der Preis hat sich innerhalb weniger Monate fast verdoppelt. Reis, das wichtigste Grundnahrungsmittel im Senegal, ist im selben Zeitraum um fast die Hälfte teurer geworden.
http://jungle-world.com/artikel/2008/15/21551.html
°°°°°°°°°^
esco7
The initial resource estimate for Golouma West, Golouma South and Masato provide an ex-cellent anchor for ongoing programs to establish further resources at the Sabodala Project," states Chet Idziszek, President. "We look forward to resource updates in Q4 2008 and early 2009, leading to a planned pre-feasibility study that year. Early-stage work on the pre-feasibility study is already under way."
Oromin believes the Sabodala region will become a major West African gold camp, and notes with interest several recent announcements by neighbouring operators. Mineral Deposits Limited (MDL) is constructing an open-pit mine, expected to produce 168,000 ounces of gold starting in 2009, at a concession entirely surrounded by the OJVG ground. Randgold Re-sources has reported a significant new gold discovery, described by Randgold's CEO, Mark Bristow as "potentially a multi-million-ounce project," at its adjacent Massawa Project south of the OJVG ground. The potential strike lengths and depth potential reported by Randgold (July 31/2008 news release) provide further evidence of the significant potential of this east-ern Senegal gold camp.
"We regard our initial NI 43-101 report as simply the starting point for the work we intend to carry out at Sabodala," states Chet Idziszek. "The recent announcements by other operators further support our view that this region will become a major African gold camp."
#
http://www.oromin.com/s/NewsReleases.asp?ReportID=314267
Oromin believes the Sabodala region will become a major West African gold camp, and notes with interest several recent announcements by neighbouring operators. Mineral Deposits Limited (MDL) is constructing an open-pit mine, expected to produce 168,000 ounces of gold starting in 2009, at a concession entirely surrounded by the OJVG ground. Randgold Re-sources has reported a significant new gold discovery, described by Randgold's CEO, Mark Bristow as "potentially a multi-million-ounce project," at its adjacent Massawa Project south of the OJVG ground. The potential strike lengths and depth potential reported by Randgold (July 31/2008 news release) provide further evidence of the significant potential of this east-ern Senegal gold camp.
"We regard our initial NI 43-101 report as simply the starting point for the work we intend to carry out at Sabodala," states Chet Idziszek. "The recent announcements by other operators further support our view that this region will become a major African gold camp."
#
http://www.oromin.com/s/NewsReleases.asp?ReportID=314267
http://www.scandoil.com/moxie-bm2/news/oromin-reports-progre…
Oromin reports progress at Santa Rosa oil project, Argentina
Published Oct 16, 2008
Oromin Explorations Ltd. advise that the environmental studies on the Santa Rosa Exploration Permit have been completed by our wholly-owned Argentine subsidiary and have been filed with the Environmental Control and Improvement Directorate of the Province of Mendoza.
The Directorate will oversee the evaluation of the environmental studies by the appropriate government agencies and specialists prior to authorizing the first phase of exploration drilling, scheduled for the first quarter of 2009.
The Santa Rosa Block has an area of 7,694 square kilometres with approximately 300 square kilometres being the area we are focused on. This area covers a large, untested, shallow dome structure that is defined by four surrounding seismic lines on a regional grid. In addition to the environmental studies, a land surveying contract has been awarded to reestablish the corners and boundaries of the block in compliance with provincial regulations. This survey will also establish the locations of potential drill-sites and set up a reference grid for future exploration activities.
The CCyB-9 Santa Rosa Block is located within the Cuyana Basin in Mendoza Province, Argentina which has produced over 1.28 billion barrels of oil and has an established infrastructure of pipelines, a refinery, low operating costs and an experienced oil industry work force.
Otto Energy Limited has a Letter of Intent with Oromin which enables it to earn up to a 41.24% working interest by the expenditure of up to US$2,297,381.
esco7
Oromin reports progress at Santa Rosa oil project, Argentina
Published Oct 16, 2008
Oromin Explorations Ltd. advise that the environmental studies on the Santa Rosa Exploration Permit have been completed by our wholly-owned Argentine subsidiary and have been filed with the Environmental Control and Improvement Directorate of the Province of Mendoza.
The Directorate will oversee the evaluation of the environmental studies by the appropriate government agencies and specialists prior to authorizing the first phase of exploration drilling, scheduled for the first quarter of 2009.
The Santa Rosa Block has an area of 7,694 square kilometres with approximately 300 square kilometres being the area we are focused on. This area covers a large, untested, shallow dome structure that is defined by four surrounding seismic lines on a regional grid. In addition to the environmental studies, a land surveying contract has been awarded to reestablish the corners and boundaries of the block in compliance with provincial regulations. This survey will also establish the locations of potential drill-sites and set up a reference grid for future exploration activities.
The CCyB-9 Santa Rosa Block is located within the Cuyana Basin in Mendoza Province, Argentina which has produced over 1.28 billion barrels of oil and has an established infrastructure of pipelines, a refinery, low operating costs and an experienced oil industry work force.
Otto Energy Limited has a Letter of Intent with Oromin which enables it to earn up to a 41.24% working interest by the expenditure of up to US$2,297,381.
esco7
http://grandich.agoracom.com/category/grandich-companies/oro…
Absolutely great news from Oromin Explorations (OLE-TSX) If we weren’t in economic up-heaval worldwide and had just gone through the worse junior resource bear market in his-tory, I’m convinced the share price would be at least five times the current price. You take a lot of beatings in this business so its great to see a company of yours doing so well.
++++
http://minerals.usgs.gov/minerals/pubs/country/2005/gapusgmy…
+++
http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=77…
Posted: Friday , 23 Jan 2009
JOHANNESBURG -
Red Back, a top performing gold stock, on Friday announced a CAD 150m bought deal, placing 20m shares at CAD 7.50 each, with an over-allotment of 2m shares potentially available at the same price. The financing, for "general corporate purposes", once again underscores the ability of top rated gold stocks to raise capital with relative ease amid equity and credit markets that remain severely bombed out, and paralysed, respectively.
Red Back, a global Tier II gold name, announced on 21 November 2008 that it had raised CAD 60m, upsized from CAD 40m "in response to strong investor demand". Red Back, associated with the Lundin group, has been a relatively quiet gold stock in the public domain. Bought equity deals in the global gold sector have also been recently completed by, among others, Kinross, Harmony, Agnico-Eagle, and Centamin Egypt.
While Kinross two months ago splashed out USD 250m on a 6m ounce gold deposit in Chile, and raised a minimum USD 361m in fresh equity this week, Red Back's recent equity rai-sings may be connected with potential corporate activity. Red Back holds interests in and operates gold mines at Chirano (Ghana) and Tasiast (Mauritania), and could be producing 500,000 ounces of gold a year by 2012, nearly doubling 2008 production, if its own projecti-ons unfold as planned.
Red Back is anticipating 2009 production of 400,000 ounces at USD 385 an ounce, up from 260,000 ounces in 2008. While both Red Back mines appear to be situated in gold provinces that could yield up further deposits, Red Back may also move further up the production lad-der on the back of corporate activity.
Red Back holds a minority stake in Mineral Deposits, which also has interests in Africa. Where Red Back currently holds 6.2m ounces of gold in the resource category, and 4.1m ounces in the reserve category, Mineral Deposits holds a 3.5m ounce gold resource and a 1.4m ounce gold reserve at its Sabodala Project, in Senegal, which is due to produce gold any day now. Mineral Deposits also holds a world class, but unfunded, mineral sands project.
Where Red Back currently generates net cash from low-cost gold mining, and holds substan-tial net cash, Mineral Deposits currently holds net debt, and is only now on the brink of pro-ducing operating profits, of which good portions will go towards debt reduction. While the Sabodala project remains fully financed, it has entailed the raising of debt, and also the rai-sing of hedges, where there was recent restructuring.
The construction phase of the Sabodala Gold Project is about complete, with full commissio-ning underway. The target for 2009 is to produce around 170,000 ounces of gold at a cost of around USD 400 an ounce. The Macquarie bank project finance facility (part of the overall financing package) requires hedging to cover portions of production for the first four years of production.
Immediately adjacent to Sabodala, Canadian junior Oromin has delineated a 1.4m ounce initial resource at 1.73 grams per ton, allowing a regional gold story to start emerging. Mineral Deposits is seen as holding first mover advantage, with excess power, water and infrastructure, and a mill configuration which can expand from 2m to 3m tons a year with only a modest capital outlay.
In taking the Sabodala story further, Mineral Deposits recently signed a new joint venture with Axmin, a Canadian exploration company, covering three exploration permits within 30km of the Sabodala gold plant. Red Back carries a significantly higher market value than Mineral Deposits, which, in turn, carries a significantly higher market value than both Oromin and Axmin.
Investor appetite for gold stocks could enable Red Back to consolidate Mineral Deposits, Oromin and Axmin, but it could be eyeing other targets, such as Moto Goldmines, which this week finally cleared the mining contract "revisitation" in the Democratic Republic of the Congo. This is risky ground, even by African standards, but Moto Goldmines currently sits on a resource of around 20m ounces of gold.
°°°°°°°
esco7
Absolutely great news from Oromin Explorations (OLE-TSX) If we weren’t in economic up-heaval worldwide and had just gone through the worse junior resource bear market in his-tory, I’m convinced the share price would be at least five times the current price. You take a lot of beatings in this business so its great to see a company of yours doing so well.
++++
http://minerals.usgs.gov/minerals/pubs/country/2005/gapusgmy…
+++
http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=77…
Posted: Friday , 23 Jan 2009
JOHANNESBURG -
Red Back, a top performing gold stock, on Friday announced a CAD 150m bought deal, placing 20m shares at CAD 7.50 each, with an over-allotment of 2m shares potentially available at the same price. The financing, for "general corporate purposes", once again underscores the ability of top rated gold stocks to raise capital with relative ease amid equity and credit markets that remain severely bombed out, and paralysed, respectively.
Red Back, a global Tier II gold name, announced on 21 November 2008 that it had raised CAD 60m, upsized from CAD 40m "in response to strong investor demand". Red Back, associated with the Lundin group, has been a relatively quiet gold stock in the public domain. Bought equity deals in the global gold sector have also been recently completed by, among others, Kinross, Harmony, Agnico-Eagle, and Centamin Egypt.
While Kinross two months ago splashed out USD 250m on a 6m ounce gold deposit in Chile, and raised a minimum USD 361m in fresh equity this week, Red Back's recent equity rai-sings may be connected with potential corporate activity. Red Back holds interests in and operates gold mines at Chirano (Ghana) and Tasiast (Mauritania), and could be producing 500,000 ounces of gold a year by 2012, nearly doubling 2008 production, if its own projecti-ons unfold as planned.
Red Back is anticipating 2009 production of 400,000 ounces at USD 385 an ounce, up from 260,000 ounces in 2008. While both Red Back mines appear to be situated in gold provinces that could yield up further deposits, Red Back may also move further up the production lad-der on the back of corporate activity.
Red Back holds a minority stake in Mineral Deposits, which also has interests in Africa. Where Red Back currently holds 6.2m ounces of gold in the resource category, and 4.1m ounces in the reserve category, Mineral Deposits holds a 3.5m ounce gold resource and a 1.4m ounce gold reserve at its Sabodala Project, in Senegal, which is due to produce gold any day now. Mineral Deposits also holds a world class, but unfunded, mineral sands project.
Where Red Back currently generates net cash from low-cost gold mining, and holds substan-tial net cash, Mineral Deposits currently holds net debt, and is only now on the brink of pro-ducing operating profits, of which good portions will go towards debt reduction. While the Sabodala project remains fully financed, it has entailed the raising of debt, and also the rai-sing of hedges, where there was recent restructuring.
The construction phase of the Sabodala Gold Project is about complete, with full commissio-ning underway. The target for 2009 is to produce around 170,000 ounces of gold at a cost of around USD 400 an ounce. The Macquarie bank project finance facility (part of the overall financing package) requires hedging to cover portions of production for the first four years of production.
Immediately adjacent to Sabodala, Canadian junior Oromin has delineated a 1.4m ounce initial resource at 1.73 grams per ton, allowing a regional gold story to start emerging. Mineral Deposits is seen as holding first mover advantage, with excess power, water and infrastructure, and a mill configuration which can expand from 2m to 3m tons a year with only a modest capital outlay.
In taking the Sabodala story further, Mineral Deposits recently signed a new joint venture with Axmin, a Canadian exploration company, covering three exploration permits within 30km of the Sabodala gold plant. Red Back carries a significantly higher market value than Mineral Deposits, which, in turn, carries a significantly higher market value than both Oromin and Axmin.
Investor appetite for gold stocks could enable Red Back to consolidate Mineral Deposits, Oromin and Axmin, but it could be eyeing other targets, such as Moto Goldmines, which this week finally cleared the mining contract "revisitation" in the Democratic Republic of the Congo. This is risky ground, even by African standards, but Moto Goldmines currently sits on a resource of around 20m ounces of gold.
°°°°°°°
esco7
Ein Lebenszeichen:
TORONTO, ONTARIO, Jun 19 (MARKET WIRE) --
IAMGOLD Corporation ("IAMGOLD" or "the Company")(TSX: IMG)(NYSE:
IAG)(BOTSWANA: IAMGOLD) today announced it has acquired 16,088,636 common
shares at C$0.70 per share for a total investment of $11.26 million, or
17% of the now issued and outstanding common shares of Oromin
Explorations Ltd. ("Oromin") in partial subscription to a private
placement. Oromin is a TSX listed company with its principal property
being an interest in a joint venture covering a large landholding in
Senegal in close proximity to the Sabodala mine.
The common shares of Oromin acquired by IAMGOLD were acquired for
investment purposes. IAMGOLD does not have any present intention to
acquire ownership of, or control over, additional securities of Oromin.
It is the intention of IAMGOLD to evaluate its investment in Oromin on a
continuing basis and such holdings may be increased or decreased in the
future.
The Oromin investment is consistent with the Company's exploration
strategy in the region where we are looking to acquire interests in large
prospective land packages.
°°°°°°°^
esco7
TORONTO, ONTARIO, Jun 19 (MARKET WIRE) --
IAMGOLD Corporation ("IAMGOLD" or "the Company")(TSX: IMG)(NYSE:
IAG)(BOTSWANA: IAMGOLD) today announced it has acquired 16,088,636 common
shares at C$0.70 per share for a total investment of $11.26 million, or
17% of the now issued and outstanding common shares of Oromin
Explorations Ltd. ("Oromin") in partial subscription to a private
placement. Oromin is a TSX listed company with its principal property
being an interest in a joint venture covering a large landholding in
Senegal in close proximity to the Sabodala mine.
The common shares of Oromin acquired by IAMGOLD were acquired for
investment purposes. IAMGOLD does not have any present intention to
acquire ownership of, or control over, additional securities of Oromin.
It is the intention of IAMGOLD to evaluate its investment in Oromin on a
continuing basis and such holdings may be increased or decreased in the
future.
The Oromin investment is consistent with the Company's exploration
strategy in the region where we are looking to acquire interests in large
prospective land packages.
°°°°°°°^
esco7
Ganz in der Nähe von Oromin:
Die Fakten:
Die vorläufigen Recherchen lassen auf ein hohes Potenzial auf einen überdurchschnittlichen Goldfund im Lizenzgebiet ¨Velingara¨ hoffen. Nachfolgend finden sie die wichtigsten Entscheidungsgründe für eine Investition in die Erkundung und Exploration des Lizenzgebietes ¨Velingara¨
•Das Lizenzgebiet ¨Velingara¨ liegt in unmittelbarer Nähe zu den Top Gold Spots im Senegal
•Die Voranalyse auf der Grundlage von geomagnetischen Daten lassen auf Anomalien schließen
•Alle großen Goldfunde der Vergangenheit von Mauretanien bis Guinea Conarky verlaufen auf derselben geologischen Strukturlinie mit minimaler Abweichung. Das Lizenzgebiet ¨Velingara¨ liegt exakt auf dieser geologischen Strukturlinie
Darüber hinaus sollte die politische und wirtschaftliche Stabilität des Landes Senegal ein wesentlicher Faktor zur Entscheidung in eine Investition in das Lizenzgebiet ¨Velingara¨ beitragen.
Die Arbeiten im Lizenzgebiet ¨Velingara¨ werden im Frühjahr 2010 aufgenommen. Im ersten Schritt sollen ca. 600 Surface Samples entnommen und analysiert werden. Der Abschluss dieser Arbeiten ist für August / September 2010 geplant. Die Kosten für diese erste Projektphase werden sich auf etwa 1,45 Mio. US Dollar belaufen.
Im zweiten Schritt soll nach der genauen Erfassung der vorausgegangenen Daten aus der ersten Phase der Erkundung, etwa 4.000 weitere Soil- und Surface Samples gezogen und analysiert werden. Diese Vorgehensweise schränkt stärkere und schwächere Anomalien gebietstechnisch ein. Bei besonders starken Anomalien werden Pits gestellt, oder je nach Beschaffenheit der geologischen Örtlichkeit gegebenenfalls gedrillt. Die Kosten für die zweite Projektphase werden sich auf etwa 4,85 Mio. US Dollar belaufen.
Aufgrund der geologischen Gegebenheiten im Lizenzgebiet ¨Velingara¨ besteht darüber hinaus die Möglichkeit weitere Wertmetalle wie beispielsweise Kupfererze zu erkunden und zu explorieren. Das vom Land Senegal erteilte Lizenzrecht an die SN Minerals Mining Ltd. umfasst die vorgenannten Umstände bei den Erkundungsarbeiten und Explorationsrechten.
http://sn-mining.com/index.php?id=3
Bla bla bla vom Feinsten … und vielleicht finden wir in 3 Jahren eine wertvolle Goldmünze von 1822…
esco7
Die Fakten:
Die vorläufigen Recherchen lassen auf ein hohes Potenzial auf einen überdurchschnittlichen Goldfund im Lizenzgebiet ¨Velingara¨ hoffen. Nachfolgend finden sie die wichtigsten Entscheidungsgründe für eine Investition in die Erkundung und Exploration des Lizenzgebietes ¨Velingara¨
•Das Lizenzgebiet ¨Velingara¨ liegt in unmittelbarer Nähe zu den Top Gold Spots im Senegal
•Die Voranalyse auf der Grundlage von geomagnetischen Daten lassen auf Anomalien schließen
•Alle großen Goldfunde der Vergangenheit von Mauretanien bis Guinea Conarky verlaufen auf derselben geologischen Strukturlinie mit minimaler Abweichung. Das Lizenzgebiet ¨Velingara¨ liegt exakt auf dieser geologischen Strukturlinie
Darüber hinaus sollte die politische und wirtschaftliche Stabilität des Landes Senegal ein wesentlicher Faktor zur Entscheidung in eine Investition in das Lizenzgebiet ¨Velingara¨ beitragen.
Die Arbeiten im Lizenzgebiet ¨Velingara¨ werden im Frühjahr 2010 aufgenommen. Im ersten Schritt sollen ca. 600 Surface Samples entnommen und analysiert werden. Der Abschluss dieser Arbeiten ist für August / September 2010 geplant. Die Kosten für diese erste Projektphase werden sich auf etwa 1,45 Mio. US Dollar belaufen.
Im zweiten Schritt soll nach der genauen Erfassung der vorausgegangenen Daten aus der ersten Phase der Erkundung, etwa 4.000 weitere Soil- und Surface Samples gezogen und analysiert werden. Diese Vorgehensweise schränkt stärkere und schwächere Anomalien gebietstechnisch ein. Bei besonders starken Anomalien werden Pits gestellt, oder je nach Beschaffenheit der geologischen Örtlichkeit gegebenenfalls gedrillt. Die Kosten für die zweite Projektphase werden sich auf etwa 4,85 Mio. US Dollar belaufen.
Aufgrund der geologischen Gegebenheiten im Lizenzgebiet ¨Velingara¨ besteht darüber hinaus die Möglichkeit weitere Wertmetalle wie beispielsweise Kupfererze zu erkunden und zu explorieren. Das vom Land Senegal erteilte Lizenzrecht an die SN Minerals Mining Ltd. umfasst die vorgenannten Umstände bei den Erkundungsarbeiten und Explorationsrechten.
http://sn-mining.com/index.php?id=3
Bla bla bla vom Feinsten … und vielleicht finden wir in 3 Jahren eine wertvolle Goldmünze von 1822…
esco7
Oromin Explorations -From Model Portfolio to Client
Posted by Peter Grandich at 9:29 AM on Thursday, April 1st, 2010
As noted yesterday, I believed gold was breaking out and sure enough it and especially silver are up sharply. Stay tuned as I’ve a hunch this is in part due to what surrounds the recent CFTC hearings.
A couple of months ago, I added a former client of mine to my model portfolio list – Oromin Explorations Ltd. (OLE-TSX $.70). I did so because at the time I felt the stock had gotten too cheap. The stock traded below $.60 earlier this week.
I received a call from Dave Scott of OLE that basically said the stock doesn’t come close to representing the value OLE’s management feels its worth and recognized they needed to get the story out. Upon getting the “Readers Digest” version of an update, I couldn’t have agreed more and was engaged.
While knowing saying this could get me fired my first day on the job, I must note that the company has never spent much time and money on the IR side of things. Long-time followers know I used to say they like to drill for metals, not investors. In the long run that’s usually the best thing, but when you look at what this company has already found in the ground, what’s likely to come out of their feasibility study by the end of June, the tremendous exploration potential and knowing what’s happening to companies that show they have several million ounces of gold available, the time has truly come for OLE to have it’s day in the Sun via some real big-time promotion.
It appears I will be just a part of this greatly increased enlightening of some very fine assets. I hope to have a report out next week during my “vacation".
http://grandich.agoracom.com/2010/04/oromin-explorations-fro…
Posted by Peter Grandich at 9:29 AM on Thursday, April 1st, 2010
As noted yesterday, I believed gold was breaking out and sure enough it and especially silver are up sharply. Stay tuned as I’ve a hunch this is in part due to what surrounds the recent CFTC hearings.
A couple of months ago, I added a former client of mine to my model portfolio list – Oromin Explorations Ltd. (OLE-TSX $.70). I did so because at the time I felt the stock had gotten too cheap. The stock traded below $.60 earlier this week.
I received a call from Dave Scott of OLE that basically said the stock doesn’t come close to representing the value OLE’s management feels its worth and recognized they needed to get the story out. Upon getting the “Readers Digest” version of an update, I couldn’t have agreed more and was engaged.
While knowing saying this could get me fired my first day on the job, I must note that the company has never spent much time and money on the IR side of things. Long-time followers know I used to say they like to drill for metals, not investors. In the long run that’s usually the best thing, but when you look at what this company has already found in the ground, what’s likely to come out of their feasibility study by the end of June, the tremendous exploration potential and knowing what’s happening to companies that show they have several million ounces of gold available, the time has truly come for OLE to have it’s day in the Sun via some real big-time promotion.
It appears I will be just a part of this greatly increased enlightening of some very fine assets. I hope to have a report out next week during my “vacation".
http://grandich.agoracom.com/2010/04/oromin-explorations-fro…
NEWS:
Jun 02, 2010 09:30 ET
Oromin Explorations Ltd.: Exploration Drilling Continues to Generate Excellent Results From Numerous Gold Deposits and Targets
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 2, 2010) - Oromin Explorations Ltd. (TSX:OLE)(OTCBB:OLEPF) -
HIGHLIGHTS
GOLOUMA STYLE HIGHER GRADE DEPOSITS AND TARGETS
* Kourouloulou Deposit returns 58.79 g/t gold over 4 metres in DH-673 and 73.89 g/t gold over 3 metres in DH-653
* Koulouqwinde Target returns 7.26 g/t gold over 3 metres in RC-707 and 260.0 g/t gold over 1 metre in DH-633
MASATO STYLE BULK-TONNAGE DEPOSITS AND TARGETS
* Masato Deposit returns 1.81 g/t gold over 12 metres and 6.67 g/t gold over 4 metres at depth in DH-736
* Maki Medina Deposit returns 2.58 g/t gold over 20 metres in DH-700 and 1.74 g/t gold over 40 metres and 1.61 g/t gold over 25 metres in RC-710
* Niakafiri Southeast Deposit returns 1.59 g/t gold over 10 metres in DH-632; 1.52 g/t gold over 18 metres in DH-642; and 1.82 g/t gold over 10 metres and 1.64 g/t gold over 10 metres in DH-696
* Kobokoto South Target returns 1.58 g/t gold over 5 metres in RC-716
* Initial drilling results from the Niakafiri Southwest Target, including 1.01 g/t gold over 42 metres in RC-645, may represent a future heap leach opportunity
FEASIBILITY STUDY PROGRESSING ON-SCHEDULE FOR RELEASE IN JULY 2010
Oromin Explorations Ltd. ("Oromin"), on behalf of Oromin Joint Venture Group Limited ("OJVG"), is pleased to provide an update on its ongoing exploration and resource drilling program at its OJVG Gold Project in eastern Sénégal, West Africa.
Exploration drilling undertaken since the completion of all requisite Feasibility Study geotechnical and hydrological drilling in early 2010 continues to generate excellent results at many of the OJVG deposits and targets. With the exception of some results from Kourouloulou, none of these favourable results are incorporated in the production schedule proposed in OJVG's forthcoming Feasibility Study and as a result they will not be included in the Feasibility Study's economic and cash flow analyses. Positive impacts from 2010 exploration drilling to date include expansions at Golouma style higher grade deposits and targets (Kourouloulou and Koulouqwinde), expansions at Masato style bulk-tonnage deposits (Maki Medina, Niakafiri Southeast and Masato) as well as new discoveries (Kobokoto South and Niakafiri Southwest).
One of the most interesting 2010 exploration results is the higher-grade interval of 6.67 g/t gold over 4 metres obtained at depth in DH-736 at the Masato Deposit. This hole targeted mineralization approximately 50 metres beneath the optimized pit shell used to constrain the current resource, where it not only intersected and confirmed continuity of the bulk-tonnage mineralization (1.81 g/t gold over 18 metres) but also intersected a second higher-grade style of mineralization (6.67 g/t gold over 4 metres).
The favorable intersection of bulk-tonnage mineralization at depth in DH-736 may enable the current optimized pit shell to be deepened as this mineralization continues to demonstrate grade and width continuity with that intersected above. In addition, the confirmation of the extension of higher-grade style mineralization in DH-736, together with the higher-grade intersections encountered in previous drilling, provides OJVG the opportunity to now consider underground mining opportunities at the Masato Deposit beneath the current planned open pit. This would be the first potential underground mining opportunity within one of the many OJVG bulk tonnage deposits. The potential impact of this deep, higher grade mineralization will not be reflected in the upcoming Feasibility Study.
Other than the results for DH-641 and DH-653 at the Kourouloulou Deposit, none of the results in the following tables have been incorporated into the 2010 Feasibility Study, but most of these results will be incorporated in a separate resource estimate update anticipated in July. OJVG plans to continue exploration drilling throughout the remainder of 2010.
KOUROULOULOU DEPOSIT
Kourouloulou is a Golouma style higher grade deposit located approximately 500 metres north of the Golouma South Deposit and 1,000 metres south of the Kerekounda Deposit (two of several other Golouma style higher grade deposits). Kourouloulou is comprised of two principal, sub-parallel gold veins traced to date by drilling across a 220-metre strike extent and currently to a depth of approximately 300 metres. The Kourouloulou Deposit remains open to expansion to depth and to the west. Initial resources for this new discovery will be included in the feasibility study report scheduled for public release in early July.
Results listed below for DH-673 and DH-680 arrived after that data cut-off date for inclusion in the Feasibility Study analysis, but will be incorporated in future resource updates.
Kourouloulou Deposit
Drill Hole Grid Co-ordinate Azimuth/Dip From–To (m) Interval (m) Gold (g/t)
DH-641 53493N/5413E 030/-55 82-84 2 19.74
DH-653 53513N/5327E 030/-55 109-112 3 73.89
incl.111-112 1 209.7
DH-673 53482N/5385E 030/-65 235-239 4 58.79
incl.237-238 1 229.0
DH-680 53482N/5385E 030/-75 141-142 1 22.98
KOULOUQWINDE TARGET
Koulouqwinde is outlined by a 700 metre by 300 metre gold-in-soil geochemical anomaly that lies within the Golouma style higher grade structural trend approximately 1,000 metres southwest of the Golouma South Deposit. Drilling to date has intersected various styles of mineralization including shear-hosted altered quartz veining, inter-shear dilational quartz veining and, most recently, shallow dipping altered quartz tourmaline veining occasionally displaying visible gold.
A resource calculation has not yet been undertaken for Koulouqwinde, nor have these results been included in the 2010 Feasibility Study. The initial resource evaluation for Koulouqwinde will begin shortly for inclusion in a project-wide resource update to follow the upcoming release of the Feasibility Study.
Koulouqwinde Target
Drill Hole Grid Co-ordinate Azimuth/Dip From–To (m) Interval (m) Gold (g/t)
DH-489* 52480N/4480E 160/-50 50-52 2 8.64
RC-642* 52625N/4390E 045/-50 141-143 2 6.16
147-148 1 41.99
RC-644* 52365N/4485E 340/-55 74-79 5 6.78
incl.74-76 2 13.15
RC-648* 52365N/4485E 340/-68 16-19 3 5.18
RC-649* 52380N/4525E 340/-50 74-77 3 13.13
incl.74-75 1 29.46
RC-653* 52705N/4418E 220/-50 156-157 1 96.45
RC-655* 52382N/4480E 015/-50 48-55 7 14.24
143-144 1 30.86
DH-633 52437N/4452E 140/-45 100-101 1 260.0
DH-647 52297N/4281E 140/-45 86-89 3 2.76
incl.86-87 1 7.13
DH-665 52296N/4214E 110/-50 131-133 2 3.65
DH-675 52661N/4359E 110/-50 151-155 4 1.55
DH-683 52620N/4347E 110/-50 128-129 1 10.70
RC-707 52332N/4230E 110/-50 48-51 3 7.26
72-80 8 2.15
incl.76-78 2 4.40
RC-708 52256N/4197E 110/-50 0-5 5 1.83
incl.0-2 2 4.08
* Previously Released
MASATO DEPOSIT
A total of three drill holes were recently completed in an area of the Masato Deposit to confirm that the bulk-tonnage style of mineralization comprising the majority of the deposit continues at depth beneath the optimized pit shell used to constrain the current resources and may ultimately justify deepening the open pit at Masato. In addition, these holes, combined with previous high grade results, suggest that multiple shoots of Golouma style higher grade mineralization may be present to considerable depth beneath the resource pit shell as well. This is the first indication that the higher grade Golouma style of mineralization may be present within the Masato style bulk tonnage gold deposits.
Based on these results, especially those from DH-736, future drilling will continue evaluating both styles of mineralization in this portion of the Masato Deposit which remains open to expansion to depth and to the northeast.
Masato Deposit
Drill Hole Grid Co-ordinate Azimuth/Dip From–To (m) Interval (m) Gold (g/t)
DH-293* 59645N/4484E 110/-80 191-194 3 17.94
DH-312* 59659N/4447E 110/-80 183-195 12 17.26
DH-473* 59524N/4550E 110/-50 36-38 2 48.54
RC-292* 59782N/4618E 110/-75 111-120 9 8.92
RC-362* 59837N/4580E 110/-50 162-170 8 14.12
RC-469* 59285N/4584E 110/-60 0-5 5 7.30
DH-723 60175N/4716E 104/-70 249-293 44 1.04
incl.249-257 8 2.07
DH-736 60225N/4749E 104/-70 240-250 10 1.05
incl.240-243 3 2.10
295-307 12 1.81
335-341 6 5.24
incl.337-341 4 6.67
* Previously released
MAKI MEDINA DEPOSIT
Maki Medina is a Masato style bulk-tonnage deposit located 2 kilometres southeast of the Niakafiri Southeast Deposit. The initial resource calculated for Maki Medina in May 2009 provided an inferred resource of 1.5 million tonnes grading 1.50 g/t gold or 70,000 ounces of gold. This initial resource estimation was based on limited, shallow and widely-spaced drilling over a 900-metre strike extent. Since the initial resource calculation, drilling has been completed over a 1,600-metre strike extent with the majority of this trend covered by 40-metre drill spacing and to greater depths along the drilled Sections. The drilling completed thus far in 2010 continues to intersect similar resource grades as well as some broader zones of mineralization.
While the initial inferred resource total for Maki Medina is in the upcoming Feasibility Study, none of the 2010 results will be included. A revised resource update is now under way for the Maki Medina Deposit for inclusion in the property-wide update to follow the release of the Feasibility Study.
Maki Medina Deposit
Drill Hole Grid Co-ordinate Azimuth/Dip From–To (m) Interval (m) Gold (g/t)
DH-637 53592N/2049E 110/-50 74-79 5 1.90
DH-652 53555N/2034E 110/-72 56-60 4 4.21
incl.58-59 1 9.81
DH-659 53349N/1861E 110/-50 19-23 4 3.64
124-128 4 3.02
DH-664 53454N/2006E 110/-70 78-83 5 4.87
105-118 13 1.22
incl.113-116 3 2.69
DH-667 54222N/2100E 110/-60 92-99 7 2.66
incl.95-98 3 5.10
DH-669 54236N/2183E 110/-60 20-24 4 4.34
incl.22-24 2 7.80
DH-670 54134N/2008E 110/-50 122-126 4 2.20
RC-694 53399N/2035E 110/-50 34-39 5 1.84
incl.36-37 1 5.69
RC-696 53629N/2053E 110/-80 62-69 7 1.78
incl.62-64 2 4.22
RC-700 54164N/2031E 110/-60 103-123 20 2.58
incl.104-108 4 5.66
RC-702 53967N/1984E 110/-60 124-133 9 1.21
RC-710 52874N/1743E 110/-50 64-154 90 1.02
incl.110-150 40 1.74
incl.135-142 7 2.84
186-211 25 1.61
incl.192-20 15 2.18
NIAKAFIRI SOUTHEAST DEPOSIT
Niakafiri Southeast is a Masato style bulk-tonnage deposit located approximately 3 kilometres southwest of the Masato Deposit. The initial resource calculated for Niakafiri Southeast in May 2009 provided an inferred resource of 4.35 million tonnes of 0.90 g/t gold or 119,000 ounces of gold. Since that initial resource calculation was undertaken, considerable additional step-out and in fill drilling has occurred, predominantly beyond the previous northern drilled limit where a further 300 metres of strike extent has been one of the areas of focus, and also the previously sparsely drilled southernmost 200 metre extent of the deposit is now being extensively drilled.
While the initial inferred resource total for Niakafiri Southeast is in the upcoming Feasibility Study, none of the 2010 results will be included. A revised resource update will begin soon for the Niakafiri Southeast Deposit for inclusion in the property-wide update to follow the release of the Feasibility Study.
Niakafiri Southeast Deposit
Drill Hole Grid Co-ordinate Azimuth/Dip From–To (m) Interval (m) Gold (g/t)
DH-629 56054N/3281E 105/-50 91-97 6 1.48
DH-632 56090N/3284E 105/-50 9-13 4 2.04
102-112 10 1.59
incl.106-111 5 2.46
DH-635 56082N/3314E 105/-50 0-13 13 1.20
61-70 9 1.42
DH-638 56132N/3283E 105/-50 133-146 13 1.23
incl.137-142 5 1.92
DH-642 56172N/3283E 105/-50 7-15 8 1.49
124-142 18 1.52
DH-643 56214N/3287E 105/-50 2-9 7 1.53
DH-646 55990N/3218E 105/-50 140-147 7 1.65
incl.144-146 2 4.80
DH-648 56069N/3238E 105/-50 9-15 6 1.91
DH-660 56101N/3246E 105/-50 22-28 6 2.07
DH-696 55820N/3222E 105/-50 2-29 27 1.16
incl.12-22 10 1.82
39-44 5 1.98
incl.41-42 1 5.01
61-71 10 1.64
KOBOKOTO SOUTH TARGET
Kobokoto South is situated approximately 2.0 kilometres to the southwest of the Maki Medina Deposit within the Masato style bulk tonnage structural trend. The initial drill result correlates very well with trenching results including 1.85 g/t gold over 4 metres, 1.21 g/t gold over 11 metres and 1.91 g/t gold over 9 metres from the initial 300-metre strike length tested by drilling. Observations in many of the drill holes completed along this 300-metre portion of the Kobokoto South target identify a fairly continuous, predictable, moderately flat-dipping, shear hosted, oxidized and altered quartz-vein/quartz stockwork system similar to observations from the trenching excavations.
Additional results for this 300-metre portion of Kobokoto South as well as the remainder of Kobokoto South are pending.
Kobokoto Target
Drill Hole Grid Co-ordinate Azimuth/Dip From–To (m) Interval (m) Gold (g/t)
RC-716 51821N/0850E 130/-50 13-22 9 1.04
incl.16-21 5 1.58
NIAKAFIRI SOUTHWEST TARGET
Niakafiri Southwest lies within the Masato style bulk tonnage structural trend, approximately 600 metres to the west of the OJVG Niakafiri Southeast Deposit.
The newly discovered shallow, low grade, oxidized mineralization currently being defined at Niakafiri Southwest (1.01 g/t gold over 42 metres, 0.43 g/t gold over 68 metres, 0.32 g/t gold over 65 metres) may represent an ore type that is not included in the current proposed development plan in the Feasibility Study. If a sufficient resource size of this ore type is identified from a number of the OJVG's deposits, it could potentially be processed by lower cost heap leaching extraction method, thereby providing an additional source of concurrent gold revenue not considered in the Feasibility Study. Previous column leach testwork of a composite sample of oxidized ore from the Masato Deposit yielded a favourable gold extraction rate of 82%. Over the coming months, OJVG plans to evaluate this opportunity to add additional value to the project.
Niakafiri Southwest Target
Drill Hole Grid Co-ordinate Azimuth/Dip From–To (m) Interval (m) Gold (g/t)
RC-645 56201N/2698E 090/-50 0-6 6 1.59
36-47 11 1.03
86-128 42 1.01
incl.86-90 4 1.57
and114-128 14 1.33
132-134 2 3.03
RC-713 56166N/2678E 090/-55 0-6 6 0.58
40-108 68 0.43
incl.40-70 30 0.49
incl.74-79 5 0.78
incl.93-108 15 0.48
RC-715 56132N/2658E 090/-55 9-18 9 0.51
46-111 65 0.32
incl.46-51 5 0.60
incl.62-67 5 0.64
incl.80-83 3 0.73
incl.104-111 7 0.53
Mineralized intervals are based on 1-metre continuous samples utilizing a minimum 1.0 g/t gold cut-off level for Kourouloulou and Koulouqwinde and a minimum 0.25 g/t gold cut-off level for all other deposits and targets with a maximum continuous internal dilution of 2 metres with the exception of RC-713 and RC-715. No cutting of gold assays has been employed for reported intervals. The attitude of mineralized intervals varies and reported mineralized intersections may not represent true widths.
FEASIBILITY STUDY PROGRESS
In addition to excellent results from its aggressive exploration program, Oromin is pleased that the Feasibility Study is progressing on-schedule towards a July 2010 release date.
The 2010 Feasibility Study will examine a proposed stand-alone open-pit/underground mine complex, with initial production from five deposits feeding a central CIL mill. Initial throughput is planned at 7,400 TPD to process soft oxide and saprolite ores, ramping down to 4,500 TPD during transition from oxide to harder fresh rock.
OTHER TARGETS
OJVG recently began the drill evaluation of two additional targets on the OJVG Gold Project. The first of these, the Kinemba Target located 3.5 kilometres south of the Maki Medina Deposit, is a 500 metre by 700 metre gold-in-soil geochemical anomaly with limited hand-trenching that returned 1.11 g/t gold over 8 metres. The second is the Koutouniokolla Target located 1,500 metres northeast of Kinemba where recent excavator trenching has returned 1.45 g/t gold over 36 metres of bulk-tonnage style mineralization as well as 16.37 g/t gold over 3 metres and 42.76 g/t gold over 3 metres of higher grade style mineralization. Drilling results are pending for these two targets.
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.
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.
http://www.marketwire.com/press-release/Oromin-Explorations-…
Jun 02, 2010 09:30 ET
Oromin Explorations Ltd.: Exploration Drilling Continues to Generate Excellent Results From Numerous Gold Deposits and Targets
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 2, 2010) - Oromin Explorations Ltd. (TSX:OLE)(OTCBB:OLEPF) -
HIGHLIGHTS
GOLOUMA STYLE HIGHER GRADE DEPOSITS AND TARGETS
* Kourouloulou Deposit returns 58.79 g/t gold over 4 metres in DH-673 and 73.89 g/t gold over 3 metres in DH-653
* Koulouqwinde Target returns 7.26 g/t gold over 3 metres in RC-707 and 260.0 g/t gold over 1 metre in DH-633
MASATO STYLE BULK-TONNAGE DEPOSITS AND TARGETS
* Masato Deposit returns 1.81 g/t gold over 12 metres and 6.67 g/t gold over 4 metres at depth in DH-736
* Maki Medina Deposit returns 2.58 g/t gold over 20 metres in DH-700 and 1.74 g/t gold over 40 metres and 1.61 g/t gold over 25 metres in RC-710
* Niakafiri Southeast Deposit returns 1.59 g/t gold over 10 metres in DH-632; 1.52 g/t gold over 18 metres in DH-642; and 1.82 g/t gold over 10 metres and 1.64 g/t gold over 10 metres in DH-696
* Kobokoto South Target returns 1.58 g/t gold over 5 metres in RC-716
* Initial drilling results from the Niakafiri Southwest Target, including 1.01 g/t gold over 42 metres in RC-645, may represent a future heap leach opportunity
FEASIBILITY STUDY PROGRESSING ON-SCHEDULE FOR RELEASE IN JULY 2010
Oromin Explorations Ltd. ("Oromin"), on behalf of Oromin Joint Venture Group Limited ("OJVG"), is pleased to provide an update on its ongoing exploration and resource drilling program at its OJVG Gold Project in eastern Sénégal, West Africa.
Exploration drilling undertaken since the completion of all requisite Feasibility Study geotechnical and hydrological drilling in early 2010 continues to generate excellent results at many of the OJVG deposits and targets. With the exception of some results from Kourouloulou, none of these favourable results are incorporated in the production schedule proposed in OJVG's forthcoming Feasibility Study and as a result they will not be included in the Feasibility Study's economic and cash flow analyses. Positive impacts from 2010 exploration drilling to date include expansions at Golouma style higher grade deposits and targets (Kourouloulou and Koulouqwinde), expansions at Masato style bulk-tonnage deposits (Maki Medina, Niakafiri Southeast and Masato) as well as new discoveries (Kobokoto South and Niakafiri Southwest).
One of the most interesting 2010 exploration results is the higher-grade interval of 6.67 g/t gold over 4 metres obtained at depth in DH-736 at the Masato Deposit. This hole targeted mineralization approximately 50 metres beneath the optimized pit shell used to constrain the current resource, where it not only intersected and confirmed continuity of the bulk-tonnage mineralization (1.81 g/t gold over 18 metres) but also intersected a second higher-grade style of mineralization (6.67 g/t gold over 4 metres).
The favorable intersection of bulk-tonnage mineralization at depth in DH-736 may enable the current optimized pit shell to be deepened as this mineralization continues to demonstrate grade and width continuity with that intersected above. In addition, the confirmation of the extension of higher-grade style mineralization in DH-736, together with the higher-grade intersections encountered in previous drilling, provides OJVG the opportunity to now consider underground mining opportunities at the Masato Deposit beneath the current planned open pit. This would be the first potential underground mining opportunity within one of the many OJVG bulk tonnage deposits. The potential impact of this deep, higher grade mineralization will not be reflected in the upcoming Feasibility Study.
Other than the results for DH-641 and DH-653 at the Kourouloulou Deposit, none of the results in the following tables have been incorporated into the 2010 Feasibility Study, but most of these results will be incorporated in a separate resource estimate update anticipated in July. OJVG plans to continue exploration drilling throughout the remainder of 2010.
KOUROULOULOU DEPOSIT
Kourouloulou is a Golouma style higher grade deposit located approximately 500 metres north of the Golouma South Deposit and 1,000 metres south of the Kerekounda Deposit (two of several other Golouma style higher grade deposits). Kourouloulou is comprised of two principal, sub-parallel gold veins traced to date by drilling across a 220-metre strike extent and currently to a depth of approximately 300 metres. The Kourouloulou Deposit remains open to expansion to depth and to the west. Initial resources for this new discovery will be included in the feasibility study report scheduled for public release in early July.
Results listed below for DH-673 and DH-680 arrived after that data cut-off date for inclusion in the Feasibility Study analysis, but will be incorporated in future resource updates.
Kourouloulou Deposit
Drill Hole Grid Co-ordinate Azimuth/Dip From–To (m) Interval (m) Gold (g/t)
DH-641 53493N/5413E 030/-55 82-84 2 19.74
DH-653 53513N/5327E 030/-55 109-112 3 73.89
incl.111-112 1 209.7
DH-673 53482N/5385E 030/-65 235-239 4 58.79
incl.237-238 1 229.0
DH-680 53482N/5385E 030/-75 141-142 1 22.98
KOULOUQWINDE TARGET
Koulouqwinde is outlined by a 700 metre by 300 metre gold-in-soil geochemical anomaly that lies within the Golouma style higher grade structural trend approximately 1,000 metres southwest of the Golouma South Deposit. Drilling to date has intersected various styles of mineralization including shear-hosted altered quartz veining, inter-shear dilational quartz veining and, most recently, shallow dipping altered quartz tourmaline veining occasionally displaying visible gold.
A resource calculation has not yet been undertaken for Koulouqwinde, nor have these results been included in the 2010 Feasibility Study. The initial resource evaluation for Koulouqwinde will begin shortly for inclusion in a project-wide resource update to follow the upcoming release of the Feasibility Study.
Koulouqwinde Target
Drill Hole Grid Co-ordinate Azimuth/Dip From–To (m) Interval (m) Gold (g/t)
DH-489* 52480N/4480E 160/-50 50-52 2 8.64
RC-642* 52625N/4390E 045/-50 141-143 2 6.16
147-148 1 41.99
RC-644* 52365N/4485E 340/-55 74-79 5 6.78
incl.74-76 2 13.15
RC-648* 52365N/4485E 340/-68 16-19 3 5.18
RC-649* 52380N/4525E 340/-50 74-77 3 13.13
incl.74-75 1 29.46
RC-653* 52705N/4418E 220/-50 156-157 1 96.45
RC-655* 52382N/4480E 015/-50 48-55 7 14.24
143-144 1 30.86
DH-633 52437N/4452E 140/-45 100-101 1 260.0
DH-647 52297N/4281E 140/-45 86-89 3 2.76
incl.86-87 1 7.13
DH-665 52296N/4214E 110/-50 131-133 2 3.65
DH-675 52661N/4359E 110/-50 151-155 4 1.55
DH-683 52620N/4347E 110/-50 128-129 1 10.70
RC-707 52332N/4230E 110/-50 48-51 3 7.26
72-80 8 2.15
incl.76-78 2 4.40
RC-708 52256N/4197E 110/-50 0-5 5 1.83
incl.0-2 2 4.08
* Previously Released
MASATO DEPOSIT
A total of three drill holes were recently completed in an area of the Masato Deposit to confirm that the bulk-tonnage style of mineralization comprising the majority of the deposit continues at depth beneath the optimized pit shell used to constrain the current resources and may ultimately justify deepening the open pit at Masato. In addition, these holes, combined with previous high grade results, suggest that multiple shoots of Golouma style higher grade mineralization may be present to considerable depth beneath the resource pit shell as well. This is the first indication that the higher grade Golouma style of mineralization may be present within the Masato style bulk tonnage gold deposits.
Based on these results, especially those from DH-736, future drilling will continue evaluating both styles of mineralization in this portion of the Masato Deposit which remains open to expansion to depth and to the northeast.
Masato Deposit
Drill Hole Grid Co-ordinate Azimuth/Dip From–To (m) Interval (m) Gold (g/t)
DH-293* 59645N/4484E 110/-80 191-194 3 17.94
DH-312* 59659N/4447E 110/-80 183-195 12 17.26
DH-473* 59524N/4550E 110/-50 36-38 2 48.54
RC-292* 59782N/4618E 110/-75 111-120 9 8.92
RC-362* 59837N/4580E 110/-50 162-170 8 14.12
RC-469* 59285N/4584E 110/-60 0-5 5 7.30
DH-723 60175N/4716E 104/-70 249-293 44 1.04
incl.249-257 8 2.07
DH-736 60225N/4749E 104/-70 240-250 10 1.05
incl.240-243 3 2.10
295-307 12 1.81
335-341 6 5.24
incl.337-341 4 6.67
* Previously released
MAKI MEDINA DEPOSIT
Maki Medina is a Masato style bulk-tonnage deposit located 2 kilometres southeast of the Niakafiri Southeast Deposit. The initial resource calculated for Maki Medina in May 2009 provided an inferred resource of 1.5 million tonnes grading 1.50 g/t gold or 70,000 ounces of gold. This initial resource estimation was based on limited, shallow and widely-spaced drilling over a 900-metre strike extent. Since the initial resource calculation, drilling has been completed over a 1,600-metre strike extent with the majority of this trend covered by 40-metre drill spacing and to greater depths along the drilled Sections. The drilling completed thus far in 2010 continues to intersect similar resource grades as well as some broader zones of mineralization.
While the initial inferred resource total for Maki Medina is in the upcoming Feasibility Study, none of the 2010 results will be included. A revised resource update is now under way for the Maki Medina Deposit for inclusion in the property-wide update to follow the release of the Feasibility Study.
Maki Medina Deposit
Drill Hole Grid Co-ordinate Azimuth/Dip From–To (m) Interval (m) Gold (g/t)
DH-637 53592N/2049E 110/-50 74-79 5 1.90
DH-652 53555N/2034E 110/-72 56-60 4 4.21
incl.58-59 1 9.81
DH-659 53349N/1861E 110/-50 19-23 4 3.64
124-128 4 3.02
DH-664 53454N/2006E 110/-70 78-83 5 4.87
105-118 13 1.22
incl.113-116 3 2.69
DH-667 54222N/2100E 110/-60 92-99 7 2.66
incl.95-98 3 5.10
DH-669 54236N/2183E 110/-60 20-24 4 4.34
incl.22-24 2 7.80
DH-670 54134N/2008E 110/-50 122-126 4 2.20
RC-694 53399N/2035E 110/-50 34-39 5 1.84
incl.36-37 1 5.69
RC-696 53629N/2053E 110/-80 62-69 7 1.78
incl.62-64 2 4.22
RC-700 54164N/2031E 110/-60 103-123 20 2.58
incl.104-108 4 5.66
RC-702 53967N/1984E 110/-60 124-133 9 1.21
RC-710 52874N/1743E 110/-50 64-154 90 1.02
incl.110-150 40 1.74
incl.135-142 7 2.84
186-211 25 1.61
incl.192-20 15 2.18
NIAKAFIRI SOUTHEAST DEPOSIT
Niakafiri Southeast is a Masato style bulk-tonnage deposit located approximately 3 kilometres southwest of the Masato Deposit. The initial resource calculated for Niakafiri Southeast in May 2009 provided an inferred resource of 4.35 million tonnes of 0.90 g/t gold or 119,000 ounces of gold. Since that initial resource calculation was undertaken, considerable additional step-out and in fill drilling has occurred, predominantly beyond the previous northern drilled limit where a further 300 metres of strike extent has been one of the areas of focus, and also the previously sparsely drilled southernmost 200 metre extent of the deposit is now being extensively drilled.
While the initial inferred resource total for Niakafiri Southeast is in the upcoming Feasibility Study, none of the 2010 results will be included. A revised resource update will begin soon for the Niakafiri Southeast Deposit for inclusion in the property-wide update to follow the release of the Feasibility Study.
Niakafiri Southeast Deposit
Drill Hole Grid Co-ordinate Azimuth/Dip From–To (m) Interval (m) Gold (g/t)
DH-629 56054N/3281E 105/-50 91-97 6 1.48
DH-632 56090N/3284E 105/-50 9-13 4 2.04
102-112 10 1.59
incl.106-111 5 2.46
DH-635 56082N/3314E 105/-50 0-13 13 1.20
61-70 9 1.42
DH-638 56132N/3283E 105/-50 133-146 13 1.23
incl.137-142 5 1.92
DH-642 56172N/3283E 105/-50 7-15 8 1.49
124-142 18 1.52
DH-643 56214N/3287E 105/-50 2-9 7 1.53
DH-646 55990N/3218E 105/-50 140-147 7 1.65
incl.144-146 2 4.80
DH-648 56069N/3238E 105/-50 9-15 6 1.91
DH-660 56101N/3246E 105/-50 22-28 6 2.07
DH-696 55820N/3222E 105/-50 2-29 27 1.16
incl.12-22 10 1.82
39-44 5 1.98
incl.41-42 1 5.01
61-71 10 1.64
KOBOKOTO SOUTH TARGET
Kobokoto South is situated approximately 2.0 kilometres to the southwest of the Maki Medina Deposit within the Masato style bulk tonnage structural trend. The initial drill result correlates very well with trenching results including 1.85 g/t gold over 4 metres, 1.21 g/t gold over 11 metres and 1.91 g/t gold over 9 metres from the initial 300-metre strike length tested by drilling. Observations in many of the drill holes completed along this 300-metre portion of the Kobokoto South target identify a fairly continuous, predictable, moderately flat-dipping, shear hosted, oxidized and altered quartz-vein/quartz stockwork system similar to observations from the trenching excavations.
Additional results for this 300-metre portion of Kobokoto South as well as the remainder of Kobokoto South are pending.
Kobokoto Target
Drill Hole Grid Co-ordinate Azimuth/Dip From–To (m) Interval (m) Gold (g/t)
RC-716 51821N/0850E 130/-50 13-22 9 1.04
incl.16-21 5 1.58
NIAKAFIRI SOUTHWEST TARGET
Niakafiri Southwest lies within the Masato style bulk tonnage structural trend, approximately 600 metres to the west of the OJVG Niakafiri Southeast Deposit.
The newly discovered shallow, low grade, oxidized mineralization currently being defined at Niakafiri Southwest (1.01 g/t gold over 42 metres, 0.43 g/t gold over 68 metres, 0.32 g/t gold over 65 metres) may represent an ore type that is not included in the current proposed development plan in the Feasibility Study. If a sufficient resource size of this ore type is identified from a number of the OJVG's deposits, it could potentially be processed by lower cost heap leaching extraction method, thereby providing an additional source of concurrent gold revenue not considered in the Feasibility Study. Previous column leach testwork of a composite sample of oxidized ore from the Masato Deposit yielded a favourable gold extraction rate of 82%. Over the coming months, OJVG plans to evaluate this opportunity to add additional value to the project.
Niakafiri Southwest Target
Drill Hole Grid Co-ordinate Azimuth/Dip From–To (m) Interval (m) Gold (g/t)
RC-645 56201N/2698E 090/-50 0-6 6 1.59
36-47 11 1.03
86-128 42 1.01
incl.86-90 4 1.57
and114-128 14 1.33
132-134 2 3.03
RC-713 56166N/2678E 090/-55 0-6 6 0.58
40-108 68 0.43
incl.40-70 30 0.49
incl.74-79 5 0.78
incl.93-108 15 0.48
RC-715 56132N/2658E 090/-55 9-18 9 0.51
46-111 65 0.32
incl.46-51 5 0.60
incl.62-67 5 0.64
incl.80-83 3 0.73
incl.104-111 7 0.53
Mineralized intervals are based on 1-metre continuous samples utilizing a minimum 1.0 g/t gold cut-off level for Kourouloulou and Koulouqwinde and a minimum 0.25 g/t gold cut-off level for all other deposits and targets with a maximum continuous internal dilution of 2 metres with the exception of RC-713 and RC-715. No cutting of gold assays has been employed for reported intervals. The attitude of mineralized intervals varies and reported mineralized intersections may not represent true widths.
FEASIBILITY STUDY PROGRESS
In addition to excellent results from its aggressive exploration program, Oromin is pleased that the Feasibility Study is progressing on-schedule towards a July 2010 release date.
The 2010 Feasibility Study will examine a proposed stand-alone open-pit/underground mine complex, with initial production from five deposits feeding a central CIL mill. Initial throughput is planned at 7,400 TPD to process soft oxide and saprolite ores, ramping down to 4,500 TPD during transition from oxide to harder fresh rock.
OTHER TARGETS
OJVG recently began the drill evaluation of two additional targets on the OJVG Gold Project. The first of these, the Kinemba Target located 3.5 kilometres south of the Maki Medina Deposit, is a 500 metre by 700 metre gold-in-soil geochemical anomaly with limited hand-trenching that returned 1.11 g/t gold over 8 metres. The second is the Koutouniokolla Target located 1,500 metres northeast of Kinemba where recent excavator trenching has returned 1.45 g/t gold over 36 metres of bulk-tonnage style mineralization as well as 16.37 g/t gold over 3 metres and 42.76 g/t gold over 3 metres of higher grade style mineralization. Drilling results are pending for these two targets.
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.
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.
http://www.marketwire.com/press-release/Oromin-Explorations-…
+ 18% 
Insider?!
Mar 16/11 Mar 16/11 Idziszek, Chester (Chet) Direct Ownership Common Shares 10 - Acquisition in the public market 10,000 $1.100
Mar 16/11 Mar 15/11 Idziszek, Chester (Chet) Direct Ownership Common Shares 10 - Acquisition in the public market 15,000 $1.100
Mar 16/11 Mar 16/11 Idziszek, Chester (Chet) Direct Ownership Common Shares 10 - Acquisition in the public market 10,000 $1.100
Mar 16/11 Mar 15/11 Idziszek, Chester (Chet) Direct Ownership Common Shares 10 - Acquisition in the public market 15,000 $1.100
from another stockboard:
If you’re placing bets on who may be the next company to be snapped up, Desjardins Securities Inc. analyst Brian Christie suggests considering Semafo Inc. (SMF-T9.540.718.04%), which this week reported earnings and cash flow in line with Street expectations.
A key reason: the stock has sold off significantly since late December, when it peaked at just above $14. It’s trading a little below $9 today.
The company reiterated its 2011 guidance this week, forecasting production of 238,000 to 263,000 ounces at a cash cost of $540-580 an ounce. Meanwhile, it has allocated significant capital to exploring its Mana and Samira Hill projects in west Africa. “This work should result in increased reserves and resources and strong news flow through the year,” noted Mr.Christie.
...
“We still believe that exploration will ultimately support our future expanded production scenario. Given the recent selloff, we also believe that Semafo could ultimately be a takeover candidate,” said Mr. Christie, who rates the stock a “buy” with a price target of $14.75.
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CIBC World Markets Inc. analyst Cosmos Chiu agrees that the stock is undervalued. Semafo now trades at a multiple of 1.6 times price-to-net-asset value, lower than the group average of 1.7 times, and its lowest multiple in over a year.
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“We believe SMF shares should not be trading at a discount to the group,” said Mr. Chiu, who believes the company’s production ramp-up to an annual rate of 450,000 ounces by 2014 is achievable.
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He rates the stock as a “sector out performer” with a price target of $18.50.
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Christie & Chiu should take a look at Oromin and compare!
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Cash cost, Semafo $540-589 : Oromin $408 (Will probably drop significantly in June 2011 feasibility)
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Price-to-net-asset value, Semafo 1.6 : Oromin .55 (Today's stock price of $1.11 divided by NAVPS of $2.02 from Mackie's November 24, 2010 report)
.
I hear that Oromin's current net-asset-value-per-share is more like $3.00.
.
IAMGOLD is currently looking for acquisition candidates with cash costs in the $400 range – I guess that leaves out Semafo.
.
So what's the bottom line? My thought is that, using Christie's & Chiu's approach, Oromin could be taken over at $5 and still be considered a bargain.
.
Gold producer Semafo seen vulnerable to a takeover
.
Mackie Research Capital 11-24-2010 Report on Oromin
If you’re placing bets on who may be the next company to be snapped up, Desjardins Securities Inc. analyst Brian Christie suggests considering Semafo Inc. (SMF-T9.540.718.04%), which this week reported earnings and cash flow in line with Street expectations.
A key reason: the stock has sold off significantly since late December, when it peaked at just above $14. It’s trading a little below $9 today.
The company reiterated its 2011 guidance this week, forecasting production of 238,000 to 263,000 ounces at a cash cost of $540-580 an ounce. Meanwhile, it has allocated significant capital to exploring its Mana and Samira Hill projects in west Africa. “This work should result in increased reserves and resources and strong news flow through the year,” noted Mr.Christie.
...
“We still believe that exploration will ultimately support our future expanded production scenario. Given the recent selloff, we also believe that Semafo could ultimately be a takeover candidate,” said Mr. Christie, who rates the stock a “buy” with a price target of $14.75.
.
CIBC World Markets Inc. analyst Cosmos Chiu agrees that the stock is undervalued. Semafo now trades at a multiple of 1.6 times price-to-net-asset value, lower than the group average of 1.7 times, and its lowest multiple in over a year.
.
“We believe SMF shares should not be trading at a discount to the group,” said Mr. Chiu, who believes the company’s production ramp-up to an annual rate of 450,000 ounces by 2014 is achievable.
.
He rates the stock as a “sector out performer” with a price target of $18.50.
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Christie & Chiu should take a look at Oromin and compare!
.
Cash cost, Semafo $540-589 : Oromin $408 (Will probably drop significantly in June 2011 feasibility)
.
Price-to-net-asset value, Semafo 1.6 : Oromin .55 (Today's stock price of $1.11 divided by NAVPS of $2.02 from Mackie's November 24, 2010 report)
.
I hear that Oromin's current net-asset-value-per-share is more like $3.00.
.
IAMGOLD is currently looking for acquisition candidates with cash costs in the $400 range – I guess that leaves out Semafo.
.
So what's the bottom line? My thought is that, using Christie's & Chiu's approach, Oromin could be taken over at $5 and still be considered a bargain.
.
Gold producer Semafo seen vulnerable to a takeover
.
Mackie Research Capital 11-24-2010 Report on Oromin
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