Announces Resource Expansion Drilling at Bjorkdal Gold Mine
posted on Mar 25, 2009 02:01PM
Edit this title from the Fast Facts Section
|March 25, 2009|
|Gold-Ore Announces Resource Expansion Drilling at Bjorkdal Gold Mine|
|VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 25, 2009) - Gold-Ore Resources Ltd. (TSX VENTURE:GOZ) announces that an underground diamond drilling campaign has commenced at the 100%-owned Bjorkdal Gold Mine in Sweden. The drill program is designed to expand the underground gold resources and thereby extend the mine life. The program is being financed entirely from cash flow from gold sales from the mine.
The drilling will initially focus on the Central Tunnel area where historic and recent mining has provided higher gold grades. Previous wide-spaced drilling in this area intersected economic gold grades over minable widths.
Exploration tunnels are being designed to access undrilled areas that are believed to contain the on-strike extensions of recently mined veins. These tunnels will enable drilling of untested areas that could dramatically expand the resource base of the deposit.
"The Company is in the enviable position of funding exploration drilling from our strong cash flow," stated Bob Wasylyshyn, Gold-Ore's president. "We are confident that during 2009, we will be able to expand our resource base at Bjorkdal adding to the mine life."
The drill core will be logged, photographed and sampled by Company geologists at Bjorkdal. Gold assays will be conducted at the ALS Chemex laboratory located in Pitea, Sweden, an hour drive from the mine. A rigorous QA/QC program will be implemented. Drill results will be released in a timely manner.
Gold-Ore Resources is a gold mining and exploration company focused in Sweden. The Company is cash flow positive, debt-free and unhedged, and remains focused on increasing gold production from the 100%-owned Bjorkdal Mine. In addition to Bjorkdal, the Company also has other assets in the country; the Ronnberget Gold Property (adjacent to Bjorkdal), the Norrliden Polymetallic Deposit and the Vallberget Polymetallic Property.
Bjorkdal property information is posted on the Company's web site at www.goldoreresources.com.
ON BEHALF OF THE BOARD
Robert Wasylyshyn, President
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
News Release 09-06