Oro Gold (OGR-V)
Canaccord Adams Senior Mining Analyst Wendell Zerb highlights that the
best intersection of eight core holes thus far is: 8.5 g/t gold over 61 m, a
strong indication the RC drilling was understating the grades. The company
has released a handful of further encouraging drill results in the past week.
Based on results to date, the Taunus zone appears to be about 350 m on
strike, up to 50 m wide, and has been tested vertically over about 70 m. It
appears to be open in all directions. Recent work by Oro Gold suggests a
regional northwest-trending corridor could represent an extensional pull-apart
basin. Some specifics relating to the extensional setting are that
breccia/conglomerate units host mineralized clasts and a later higher-grade
mineralized matrix. This could be an indication of multiple mineralizing events
possibly associated with a long-lived extensional environment. Zerb notes
that the 14-million-oz Fruta del Norte deposit (of Aurelian fame – now Kinross
(K)) has been interpreted to be associated with an extensional pullapart
basin environment.
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