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Drilling Results
Drilling Results.
About this update from Talisman Metals Plc
[{"type":"text","content":"\n Ovoca Gold PLC\n18 February 2008\n\n Ovoca Gold Announces Drilling Results\n\n On Major Molybdenum Discovery on its Kola Licences in North West Russia\n\n\n\n February 18 2008\n\n\n\n\n\nOvoca Gold Plc, AIM (OVG.L) and IEX (OVX.IR) ('Ovoca') is pleased to announce\nthe interim results of a 3,000 metre diamond drill programme in 23 holes on it's\nPellapack property in the Kola Penninsula. Over the past 12 months, these holes\nwere drilled to confirm, and add to, a preliminary drill programme carried out\nduring the Soviet era on this significant molybdenum - copper property.\n\n\n\nOvoca's holes have been spaced at 100 to 150 metres apart along 10 profile\nlines, also spaced at between 100 and 150 metres apart, across the known\nmineralisation. The mineralisation occurs as a series of sub-parallel en echelon\nore bodies. There are a total of 70 drill intersections showing ore bodies range\nfrom 5 to 110 metres in thickness.\n\n\n\nA preliminary non-JORC inferred resource evaluation using Datamine(R) and\napplying a 0.03% molybdenum cut off grade implies a resource of 132 million\ntonnes of ore at 0.06% molybdenum equivalent grade (using current metal prices\nto calculate the molybdenum equivalent grade of the copper content) totalling\n79,200 tonnes of molybdenum equivalent metal.\n\n\n\nMetallurgical test work carried out by Gintsvetmet, a leading Russian non\nferrous metallurgical laboratory, indicates that recoveries of molybdenum and\ncopper of 82% into concentrates using a simple flotation process can be achieved\non these sulphide ores during operations. Further metallurgical test work will\nbe carried out.\n\n\n\nOvoca is currently carrying out a further 5,500 metre, 21 hole, infill drill\nprogramme between the existing 10 profiles of holes and to replace some of the\nshallow Soviet holes. A tighter grid of 50x100 meters is planned for a rich\ncentral part of the Pellapakh deposit. This will give a better defined resource\nto a depth of 300 metres from surface, 400 metres across the mineralised zone\nand along a total strike length of 1,100 metres The 21 hole drilling programme\nis scheduled to be complete by the end of Q2 2008 when a report on 'The\nPellapakh Resource Estimate' will be prepared and submitted to the State\nCommittee for Geology (GKZ) for approval in Q3 2008.\n\n\n\nPellapakh is a potential large scale o...