Business
Re: Drilling Update
Re: Drilling Update.
About this update from Talisman Metals Plc
[{"type":"text","content":"\n Ovoca Resources PLC\n26 July 2005\n\n\n\nOvoca Resources plc ('OVX Dublin OVG London' )\n\n\nUpdate on Olinenskoye and Leshaya South Drilling\n\n\n\n\n\nHighlights\n\n\n\n• Drill Hole BF-045 intersects 88.6 grammes per tonne gold (2.85 ounces\nper tonne) over 1.5 meters on Oleninskoye No 3 Deposit.\n\n\n\n• Follows recent results from the drilling programme on the Leshaya South\nDeposit from drill holes BF-041 with 1.5 metres at 12.3 grammes per tonne gold\nand 1.7 metres at 80.3 grammes per tonne and BF-044 with 2 metres at 211.0\ngrammes per tonne.\n\n\n\n• 17 diamond drill holes completed on Oleninskoye No 3 Deposit with assay\nresults for 9 outstanding and a larger drill rig scheduled to start work on 2006\nprogramme.\n\n\n\n• 4 diamond drill holes completed on Oleninskoye No 7 Deposit and 4 holes\non South Leshaya Deposit with assay results for 3 holes outstanding.\n\n\n\n• A table of drilling results is included at end of this announcement.\n\n\n\nThe Ovoca licence in the Former Soviet Union covers an area of 152 square\nkilometers along the Kolmozero-Vorony Greenstone Gold Belt in the Kola Peninsula\nin northwest Russia near the Finnish border. The licence measures some 27\nkilometres along the trend and there are 8 known gold deposits. Ovoca is\ncurrently carrying out a diamond drilling and trenching programme on the\nOlennskoye (including the Leshaya South Deposit) and Nylam gold and platinum\nprospects.\n\n\n\n\n\nOLENINSKOYE\n\n\n\nOleninskoye No 3 Deposit is sub parallel and approximately 250 metres to the\nnorth of the Oleninskoye No 7 Deposit.\n\n\n\nThe vein systems are steeply dipping at an average of 70 degrees to the\nhorizontal and the drill holes are inclined at 60 degrees to intersect the veins\nacross the structure. To-date Ovoca has completed 17 diamond drill holes on\nOlinenskoye No 3 Deposit on a 150 metre by 150 metre grid. Assay results for 9\nof these holes are awaited. The zone currently measures 900 metres along strike\nand 225 metres down dip and is open in all directions. A further 12 holes are\nplanned in Q3 and Q4 2005 of which 5 holes of 150 metres depth will follow the\nvein along strike to the east and west at 150 metre intervals where the gold\nmineralisation is open.\n\n\n\nIn Q1 2006 a further programme is scheduled for 500 to 700 metre deep holes on\nOleninskoye No 3 when a l...