52 grams gold over 9 metres at Oromin’s Sabodala project

Oromin Explorations (OLE-V) has reported some strong gold grades from a new area of its Sabodala property in eastern Senagal.

One of them was the Kerekounda area, which is located 1.5 km north of the company’s Golouma South deposit. Kerekounda is a continuous shear-hosted vein system that has been traced over a strike of 160 metres and to a depth beyond 200 metres.

 Highlights from drilling include:

• 9 metres grading 52.6 grams gold per tonne (diamond)
• 4 metres grading 48.7 grams (diamond)
• 7 metres grading 25.3 grams (RC)
• 9 metres grading 11.3 grams (RC)
• 10 mtres grading 7.2 grams (RC)

Oromin says the drill results will be included in the next resource estimate for the Sabodala property, which should come out in January.

The first resource estimate came out last May and included three deposits; Masato, Golouma West and Golouma South. Inferred resources total 1.4 million oz. gold contained in 25.2 million tonnes grading 1.73 grams gold per tonne.

Oromin has had four to six drill rigs going on the project since last May, but the work program has been stopped for the holiday season.

In that time the company has completed 400 infill and step-out drill holes on the three main deposits. The company has also tested less-developed areas such as the Niakafiri Southeast area and Kerekounda.

Older drill results from Niakafiri included an 8-metre intersection grading 2.3 grams gold per tonne and 6 metres grading 2.8 grams gold per tonne.

Additional drill results are expected to come out next week.

Oromin is the operator of the project and holds a 43.5% interst in the project. The remainder is held by two private companies. The three have formed the Oromin Joint Venture Group

Oromin shares were up 1.5¢ today to 20¢ apiece on a trading volume of nearly 64,000 shares. The stock has a 52-week high of $4.15, a low of 8.5¢ and 65.2 million shares outstanding.