Oriental Minerals = Blue Pearl 2
hmm
KORES to fund Ogcheon Uranium Drilling
Vancouver, BC, May 28, 2008 -- Oriental Minerals Inc. (OTL:TSX-V) is pleased to announce that the Korea Resources Corporation (KORES) has agreed to fund Stage 1 drilling targeting part of Oriental Mineral's Ogcheon Uranium project. Stage 1 drilling will consist of a 5 hole, 800 metre drill programme, with Oriental Minerals and KORES jointly choosing hole locations, and KORES bearing the drilling cost. The 800 metre Stage 1 programme is part of Oriental's previously announced 6000 metre diamond drill programme.
The targeted uranium mineralization for this joint program consists of carbonaceous metasedimentary horizons which are regarded as similar to the Chattanooga (USA) and Alum (Sweden) shales but typically with relatively higher uranium (often in excess of 0.02%U) and vanadium (often in excess of 0.3%V) concentrations. The carbonaceous metasediments form part of the late Precambrian to early Palaeozoic Guryongsan Formation and extend for approximately 90km within the NE-SW trending Ogcheon structural lower greenschist facies zone.
Damien Reynolds, Chairman of Oriental Minerals noted, "We are very pleased to be working with KORES on the Ogcheon Uranium project and are especially pleased to have the initial drill programme funded by KORES. Our technical team did significant due diligence to identify the Daejon 29 and 39 claims, and it is clear that KORES shares our excitement about the Ogcheon Uranium projects.. Given our dedication to exploration in South Korea, we look forward to further cooperation with KORES in the future."
Oriental Minerals is the first foreign company to be granted Uranium Exploration and Mining Licenses in South Korea, as part of a substantial portfolio of mineral projects encompassing multiple commodities. KORES is a state owned South Korean public corporation which is dedicated to advancing Korean domestic mineral resource development efforts. It has numerous and significant resource investments in many parts of the world across a range of mineral and energy commodities.
A map of the area can be found on the Oriental web site at:
http://www.orientalminerals.com/s/Ogchon.asp?ReportID=180026.
About Oriental Minerals Inc.
Oriental Minerals is a Canadian based exploration company exploring for world-class mineral deposits in South Korea. The Company's current projects include tungsten-molybdenum, base metals and gold-silver properties with significant known mineralization and excellent regional potential.
South Korea is an independent country with strong ties to the USA and a key trading partner with Canada and Australia. The country has an excellent infrastructure, established and workable Mining Laws, and available trained mining workforce.
These factors, combined with an in-country bilingual team, has assisted OTL in capturing a first class country-wide, diversified minerals portfolio.
On behalf of the Board of Directors,
Ian Fodie, Lead Director
+ 604-681-5755
For More Information Contact:
Spiro Kletas,
+ 604-696-6515
skletas@orientalminerals.com
2 stellig ist.Wenns überhaupt solange dauert.
June 04, 2008 ORIENTALS DRILLING CONFIRMS DEPTH AND EXTENSIONS OF THE SANGDONG RESOURCE Vancouver, BC, June 4th, 2008 -- Oriental Minerals Inc. (OTL:TSX-V) is pleased to announce further results from an additional 8 holes from the drill program at the Sangdong Tungsten-Molybdenum project in South Korea. The Company continues to advance the technical studies to be incorporated into the Preliminary Economic Assessment (on-track for release before September 30, 2008) and subsequent feasibility studies. Hole SD-40 has 2 intersections reported of greater than 20 metres. Of significance is hole SD-42 which is open at depth and confirms the down dip extension of both tungsten and molybdenum mineralization at Sangdong, with an intersection of 72m @ 0.14% WO3 and 0.07% MoS2 Hole SD-43 has noteworthy combined intersections of tungsten and molybdenum of 109m @ 0.16% WO3 and 0.06% MoS2 and 66m @ 0.21% WO3 and 0.11% MoS2 . The many additional molybdenum intersections to the end of hole SD-43 at 700 metres have contributed to greater definition of the deep molybdenum mineralization. Hole SD-56 is encouraging and shows the layered zones of mineralization extend the known deposit to the northeast. Holes SD-57 to 59 have given more detail of the limits of mineralization on the southeast boundary, assisting the preliminary mine planning currently underway. Hole SD-60 is located where the skarn is near surface and has several intervals greater than 0.1% WO3. Technical studies underway include environmental baseline work, with 3 of 4 seasons already completed and metallurgical studies of a 600 kilogram sample are 60% complete. Pit optimization studies are being updated with these results, as is the Wardrop Engineering resource estimate (announced March 17, 2008). The details of the drill intersections, using a 0.1 WO3% Equivalent cut-off, are tabulated below: Hole From (m) To (m) Interval (m) WO3 (%) MoS2 (%) Rock Type (Formation) SD-40 29 50 21 0.22 0.05 Skarn (Myobong Slate) SD-40 55 84 29 0.27 0.05 Skarn (Myobong Slate) SD-42 196 200 4 0.10 0.01 Limestone/Breccia SD-42 246 318 72 0.14 0.07 Limestone/Breccia/Skarn, EOH SD-43 30 139 109 0.16 0.06 Breccia/Skarn (Myobong Slate) SD-43 152 218 66 0.21 0.11 Skarn (Myobong Slate) SD-43 225 244 19 0.03 0.06 Skarn / Quartzite SD-43 251 270 19 0.00 0.08 Quartzite (Jangsan) SD-43 281 295 14 0.01 0.16 Quartzite (Jangsan) SD-43 349 357 8 0.00 0.07 Quartzite (Jangsan) SD-43 445 456 11 0.01 0.07 Quartzite (Jangsan) SD-43 497 514 17 0.00 0.06 Quartzite (Jangsan) SD-43 530 542 12 0.01 0.13 Quartzite (Jangsan) SD-43 564 576 12 0.00 0.15 Quartzite (Jangsan) SD-43 610 638 28 0.01 0.12 Quartzite (Jangsan) SD-43 648 659 11 0.01 0.08 Quartzite (Jangsan) SD-43 686 691 5 0.03 0.03 Quartzite (Jangsan) SD-56 111 116 5 0.10 0.00 Skarn (Myobong Slate) SD-56 131 147 16 0.17 0.01 Skarn (Myobong Slate) SD-56 156 163 7 0.06 0.02 Skarn (Myobong Slate) SD-56 184 190 6 0.14 0.00 Skarn (Myobong Slate) SD-56 196 202 6 0.13 0.00 Skarn (Myobong Slate) SD-56 217 224 7 0.05 0.03 Skarn (Myobong Slate) SD-56 235 239 4 0.22 0.01 Skarn (Myobong Slate) SD-56 261 267 6 0.23 0.00 Skarn (Myobong Slate) SD-57 No significant intersections 0.00 0.00 SD-58 169 171 2 0.12 0.00 Skarn (Myobong Slate) SD-59 85 97 12 0.16 0.01 Skarn (Myobong Slate) SD-59 169 178 9 0.12 0.00 Skarn (Myobong Slate) SD-60 0 4 4 0.13 0.00 Overburden / Skarn SD-60 37 55 18 0.13 0.03 Skarn (Myobong Slate) SD-60 71 82 11 0.08 0.03 Skarn (Myobong Slate) SD-60 93 95 2 0.62 0.01 Skarn (Myobong Slate) SD-60 118 128 10 0.17 0.01 Skarn (Myobong Slate) SD-60 162 170 8 0.15 0.00 Skarn (Myobong Slate) SD-60 180 182 2 0.01 0.08 Quartzite (Jangsan) Current Drill Status: As at 2nd June 2008, 79 holes have been drilled for a total of over 20,000m. Currently, 4 diamond rigs are operational. The status of drilling is tabulated below. HoleID UTME(m) UTMN(m) RL(m) Azimuth True(°) Inclination(°) Depth(m) Drill Type Date Completed SD-63 485142 4111806 870 135 -70 500 Diamond 30-Apr SD-66 485473 4111384 683 315 -70 181 Diamond 25-Apr SD-67 485296 4111218 828 135 -70 161 Diamond 9-Apr SD-69 484610 4111364 928 315 -70 221 Diamond 11-Apr SD-73 485160 4111479 787 315 -70 490 Diamond 8-May SD-74 484744 4111383 850 135 -70 135 RC 3-Apr SD-75 484774 4111383 850 315 -70 90 RC 5-Apr SD-76 485380 4111661 735 315 -70 455 Diamond 12-May SD-77 484611 4111364 928 135 -70 c134 Diamond In progress SD-78 485142 4111806 870 205 -70 201 Diamond 17-May SD-79 485160 4111479 787 255 -55 109 Diamond 19-May SD-80 485095 4111255 847 135 -70 c168 Diamond In progress SD-81 484871 4111363 836 315 -70 c118 Diamond In progress SD-82 485160 4111479 787 240 -70 85 Diamond 29-May SD-83 485160 4111479 787 135 -70 c8 Diamond In progress Analytical results are awaited from the completed holes. Updated Drill Program Map To view an updated Drill Program Map, please go to www.orientalminerals.com. QA/QC Samples are 1-metre split PQ, HQ or NQ core or 1-metre split RC. The samples were prepared at the on-site preparation facility and pulps were submitted to ALS Chemex laboratory in Brisbane, Australia and analyzed by Ore Grade Method XRF-ME05, Au-AA21, ME-ICP41s and Ag-OG46. Quality Control: Blanks, Standards and Coarse and Pulp Duplicates samples were routinely inserted with the drill samples at random intervals. Blank samples were clean, indicating no cross contamination in the samples. All results confirm analysis of Standards and Coarse Duplicates are within the normal bounds of acceptable error of +/- 5%. Pulp Duplicate samples processed by another independent laboratory are also within the normal bounds of acceptable error of +/- 5%.
Bin schon lange dabei, fürs Nachkaufen aber derzeit nicht mutig genug.
hängt aus meiner Sicht mit der Situation im gesamten Rohstoffsektor zusammen.
Zur Zeit besteht einfach kein Interesse an solchen Unternehmen, auch wenn sie wie OTL gute Substanz haben.
Die Angst einer anhaltenden Rzession in USA zieht das Geld aus den Märkten.
Wer investiert den jetzt überhaupt gerne noch ???
Wer antizyklisch handelt sollte jetzt zuschlagen, denn langfristig gejts wieder nach oben.
An den fundamentalen Aussichten und Fakten hat sich nichts geändert.
Auch andere gute Werte im Rohstoffsektor haben Federn gelassen: z.b. Forsys oder Columbia Yukon.
Bin weiter hier voll investiert und gebe kein Stück aus der Hand.
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Wertpapier: Woulfe Mining |
wir mindetens 10 € da bin ich mir absolut sicher
Gruß