Vancouver – It’s a golden cycle for Oromin Explorations (OLE-V): strong drill results prompt the company to add more rigs to the Sabodala gold project, then the added rigs produce more strong results.
Oromin now has six drill rigs at Sabodala, which is a large concession in Senegal that surrounds and covers the structurally-controlled extensions of Mineral Deposits‘ (MDL-A) Sabodala and Niakafiri deposits. Mineral Deposits is currently developing its 2-million oz. gold deposit into an open pit mine.
Within Oromin’s land the focus is Golouma, a series of structurally-controlled outcropping vein systems that Oromin is currently testing with a 140,000-metres drill campaign.
Golouma South is a geochemical anomaly along the southeast side of the Golouma complex. Mineralization at Golouma South is now defined over a 1,065-metre strike extent. At the southern-most end, hole 265 recently returned 12.62 grams gold per tonne over 5 metres from 106 metres downhole. Golouma South now almost connects to Golouma Northeast, where the closest hole (hole 268) just returned 7.4 grams gold over 5 metres from 159 metres depth and 13.08 grams gold over 6 metres from 167 metres below surface.
The Golouma West zone has now been traced over 1,500-metres along strike and to 300 metres depth, still open in all directions. The zone again demonstrated strong grades and thicknesses; hole 228, for example, returned 13 metres grading 3.25 grams gold within a much broader interval grading 1.91 grams gold over 35 metres, from 269 metres depth. Hole 241 produced another well-mineralized intercept: 8.15 grams gold over 11 metres from 16 metres downhole.
Oromin’s other focus at Sabodala is Masato, a strong gold-in-soil anomaly just over 1 km east of Mineral Deposit’s deposits. Oromin is drilling Masato on 40-metre centres. New drill holes 208 43 metres grading 2.18 grams gold from 162 metres depth and 209 16 metres of 2.31 grams gold from 74 metres depth and 19 metres of 2.86 grams gold from 135 metres recently expanded the mineralized strike extent to 1.42 km.
A resource estimate for Golouma South, Golouma West, and Masato is due out by the end of May, though the rapid-fire drill campaign has already rendered it out of date.
The latest drill results lifted Oromin 8 to close at $2.72. The company has a 52-week trading range of $2.07 to $4.15 and has 65.1 million shares issued.
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