Business
Correction - Resource Update
Correction - Resource Update.
About this update from Talisman Metals Plc
[{"type":"text","content":"\n RNS Number : 5827A Ovoca Gold PLC 02 February 2011 \n\n \n \nCORRECTION\n \nThe following amendment has been made to the \"Stakhanovsky maiden gold resource of 350,000 ounces\" announcement released on 2 February 2011 at 07:00 under RNS No. 5106A:\n \nIn the table for the inferred resource estimate, the first column should say Million tonnes, and not Million tonnes ore.\n \nAll other details remain unchanged.\n \nThe full amended text is shown below.\n \n \nOvoca Gold plc (\"Ovoca\" or the \"Company\")\nStakhanovsky maiden gold resource of 350,000 ounces \n \n \nOvoca is pleased to announce a Mineral Resource estimate in accordance with the JORC Code for the Stakhanovsky gold project, located in the Northwestern part of the Magadan Region, Russia. At a gold cut-off-grade of 0.5 g/t Stakhanovsky contains 9.1 Mt of Inferred Mineral Resources at an average gold grade of 1.2 g/t for a gold content of some 350,000 ounces gold.\n \nFor 2011 Ovoca intends to continue exploring the deposit using bulk sample analysis, which was successfully done by the previous owners of the project in 2009. The total bulk tonnage plan for 2011 is to take from multiple sites approximately 20,000 tons of ore that will be reduced to a concentrate on site and sent to a laboratory for analysis. In addition, about 4,000 metres of diamond drill work with wide diameter drill casing (HQ size - 94mm diameter) is planned for the 2011 season. This drill work will primarily confirm that the gold bearing quartz veins extend at depth to approximately 100 - 200 meters below the surface. Although the plan for 2011 is quite intensive, the volume of work planned, if completed and with successful results, will allow Ovoca to register a gold resource with the Russian state authorities, a necessary step to begin feasibility studies and eventual mining. \n \nThe resource estimate was prepared by SRK Consulting (UK) Ltd (\"SRK\") using both historic data and data gathered by Ovoca in the 2010 exploration season. The historic data includes 3,013 metres of diamond drilling (27 holes ranging in depth from 50.9 metres to 200.3 metres, average 110m) and 3,042 metres of trenching. The data collected by Ovoca in 2010 includes 120 RC holes (ranging in depth from 12.8m to 151.0 m, average 59.3m) totaling 7,...