Ovoca Resources plc
Ovoca Resource plc ('Ovoca' or the 'Company')
Technical Review of Swedish Exploration Projects
Ovoca has recently commissioned a technical review of its Swedish Exploration
Projects by Steffen, Robertson & Kirsten (UK) Ltd ('SRK'). SRK is part of an
international group, the SRK Group, which comprises over 500 professional staff
offering expertise in a wide range of engineering disciplines.
The executive summary of the SRK review is reproduced below and the entire
report will be available shortly from the Company's website (www.ovoca.ie)
'Executive Summary
Ovoca holds a portfolio of 14 licences totalling some 28 000 ha located within
the Västerbotten district of northern Sweden. Some of these licences were
acquired from MinMet in 2003 and Ovoca has added to this portfolio of licences
in 2004, including the licences of Sjoliden and Nottjarn. Ovoca considers these
licences to be located in a new mining district known as the 'Gold Line'.
The majority of these licences are 'early stage' exploration prospects defined
by positive geochemical anomalies and some degree of coincident geological
structure. Three of these are, however, more advanced and are currently
considered by Ovoca to be their highest priority targets in Sweden; namely,
Krokliden, Sjoliden and Nottjarn.
The Krokliden / Sjoliden licences are located adjacent to and along strike from
Dragon Mining's Svartliden project. The licences have geochemical and
geophysical anomalies and there is a good possibility that they will host gold
mineralisation. These prospects require only limited further work prior to
diamond drilling.
At Nottjarn preliminary work has indicated the possibility of Porphyry and
mesothermal vein type mineralization which warrant further exploration.
While Ovoca's portfolio in Sweden is of a lower priority than some of the
company's other assets elsewhere in the world, SRK considers that the limited
amount of fieldwork planned by Ovoca, which is aimed at creating drill targets
on several of the licences, is justified by the information reviewed.'