Oro Gold increases financing size to 12.9 million units
2009-06-17 08:41 ET - News Release
Mr. Darren Bahrey reports
ORO GOLD ANNOUNCES INCREASE IN PRIVATE PLACEMENT TO UP TO $12 MILLION
Oro Gold Resources Ltd. has increased the size of its private placement previously announced in Stockwatch on June 16, 2009, to 12.9 million units of the company for gross proceeds of $9.03-million. Each unit, priced at 70 cents, will consist of one common share and one-half common share purchase warrant; each whole warrant will entitle the holder to purchase one additional common share at an exercise price of $1 per share for 18 months from the closing date. The units will be subject to a four-month hold period from the closing date.
The syndicate of underwriters for the offering is led by Wellington West Capital Markets Inc., and includes Canaccord Capital Corp. and Blackmont Capital Inc.
The underwriters shall also have the option exercisable up to 48 hours prior to closing to increase the size of the offering by up to an additional 4.3 million units, for gross proceeds under the offering of $12.04-million, if exercised in full.
The offering is expected to close on or about July 7, 2009, and is subject to applicable regulatory approvals.
We seek Safe Harbor.
Thursday, June 18, 2009
Sunday, June 14, 2009
Buy Sam a Drink and Get His Dog One Too..........
Being born and raised in Pittsburgh and being there for the 91 and 92 Stanley Cups, I'm still on Cloud Nine after "The Save" Friday Night. Here's the last 10 seconds of the game.
http://www.youtube.com/watch?v=kANbgKP6seM
http://www.youtube.com/watch?v=kANbgKP6seM
Thursday, June 11, 2009
Oro Gold News
Today's trading in Oro Gold is all the evidence you need to understand why 90% of retail investors lose money on exploration plays and 90% of institutions make money. Oro Gold will be over $1 by the end of next Friday.
Oro Gold drills 30 metres of 6.3 g/t Au at Trinidad
2009-06-11 10:05 ET - News Release
Mr. Darren Bahrey reports
ORO GOLD DRILLS 6.3 G/T GOLD OVER 30 METRES AND EXTENDS NEW HIGH-GRADE ZONE AT TRINIDAD PROJECT, MEXICO June 11, 2009
Oro Gold Resources Ltd. has released gold assay results received for three more diamond drill holes that expand the new gold zone toward the south at the Taunus target on its Trinidad property near Mazatlan, Mexico.
09TR019 returned 6.3 grams per tonne gold over 30 metres, including 17.6 grams per tonne gold over 4.5 metres. This is the first diamond drill hole that has been drilled from the west side of the abandoned pit, and intersected the new breccia gold zone approximately 20 metres south of recently reported high-grade gold results in 09TR015 and 09TR016. The hole was lost prior to reaching its planned depth with the last three metres averaging 2.3 g/t gold, indicating additional potential at depth.
09TR020 returned 5.3 g/t gold over 13.4 metres and 4.1 g/t gold over 12.9 metres in two distinct zones. This confirms that the gold mineralization continues to the south by more than 200 metres from the initial high-grade zone discovered by Oro Gold in holes 08TR012, 09TR015 and 09TR016.
These zones are interpreted to be near vertical, with a true width of 12 and 11 metres, respectively. "This continued drilling success demonstrates that we are onto a very significant gold discovery at Trinidad," commented Oro Gold's vice-president, Frank Powell. "Hole 09TR020 continues to grow the high-grade gold zone into a new area, suggesting significant depth potential and is open in multiple directions. We are now planning to extend our drilling program into the summer, in order to continue moving forward with the goal to add more high-grade gold ounces to our resource base."
09TR018 returned narrow intervals in the range of one to three g/t gold, interpreted to be located near a fault which has offset mineralization.
Core hole From (m) To (m) Interval (m) Gold (g/t) Recovery (%)
09TR018 137.4 140.0 2.6 1.0 98
169.0 170.5 1.5 2.6 97
197.2 205.7 8.5 0.9 78
223.5 229.8 6.3 0.9 56
09TR019 178.5 208.5 30.0 6.3 67
Including 192.0 196.5 4.5 17.6 53
234.0 237.0 3.0 2.3 75
09TR020 165.0 177.9 12.9 4.1 92
221.5 234.9 13.4 5.3 79
Note: Interval widths may not represent true widths.
SIGNIFICANT PREVIOUSLY REPORTED GOLD INTERVALS IN DIAMOND
DRILL HOLES
Core hole From (m) To (m) Interval (m) Gold (g/t)
08TR012 151.0 212.1 61.1 8.5
08TR013 147.0 180.6 33.6 3.8
including 160.9 168.2 7.3 15.8
08TR014 106.2 114.0 7.8 5.3
and 131.0 138.0 7.0 9.7
09TR015 124.0 189.9 65.9 5.3
including 124.0 166.5 42.5 7.6
09TR016 160.9 221.5 60.6 3.4
including 160.9 197.4 36.5 5.2
High-grade gold mineralization is now delineated over a 350-metre length and down to a depth of 200 metres below surface. The spacing between the diamond drill holes range between 20 to 100 metres. The high-grade portion of the mineralized breccia zone is averaging above five g/t gold. Step-out holes 09TR021 and 22 are in progress, testing the new zone at depth and along strike. Additional information, including location maps and figures pertaining to the continuing diamond drill program, can be viewed at the latest Trinidad drilling link on Oro Gold's home page. As well, a short production on Oro Gold's exploration activity at the Trinidad project will be broadcasted on six networks, including BNN and 120 United States stations, starting June 22, 2009. The video will be made available for viewing on Oro Gold's website soon.
The company has accomplished one of the objectives, in confirming the gold grade of the mineralized zones at the Taunus target is much higher than what has been reported in reverse-circulation holes, and is now focused on defining and expanding the new high-grade breccia zone discovered by Oro Gold. Meeting these objectives is expected to have a positive impact on the company's reported National Instrument 43-101 inferred oxide gold resource of 200,930 ounces contained in 4.5 million tonnes at an average grade of 1.4 g/t gold, based on a 0.5-gram-per-tonne cut-off. This resource estimate was released in 2008 and it does not include the high-grade gold results from the diamond drilling. The Taunus gold target is interpreted as an oxidized, low-to-intermediate, sulphidation, epithermal vein system. The mineralization is characterized by multiphase stockwork veining and hydrothermal brecciation hosted in a clastic, unit, quartz, feldspar porphyry intrusive and andesite volcanics. Oro Gold has identified 10 other gold targets within the 650-square-kilometre Trinidad district that require follow-up exploration. Based on what the company is accomplishing at the Taunus gold target with diamond drilling, this will aid in further defining and prioritizing these additional targets toward drilling. Oro Gold's technical team is interpreting this district to be situated in a northwest-trending structural corridor that extends for at least 80 kilometres formed by active, deep-seated, major fault structures. There is evidence of this in the recent drilling, based on intersecting a thick clastic and conglomerate sequence that has a vertical profile exceeding more than 250 metres in depth. The Taunus deposit is interpreted to be hosted in a local pull-apart basin within this trend.
Oro Gold drills 30 metres of 6.3 g/t Au at Trinidad
2009-06-11 10:05 ET - News Release
Mr. Darren Bahrey reports
ORO GOLD DRILLS 6.3 G/T GOLD OVER 30 METRES AND EXTENDS NEW HIGH-GRADE ZONE AT TRINIDAD PROJECT, MEXICO June 11, 2009
Oro Gold Resources Ltd. has released gold assay results received for three more diamond drill holes that expand the new gold zone toward the south at the Taunus target on its Trinidad property near Mazatlan, Mexico.
09TR019 returned 6.3 grams per tonne gold over 30 metres, including 17.6 grams per tonne gold over 4.5 metres. This is the first diamond drill hole that has been drilled from the west side of the abandoned pit, and intersected the new breccia gold zone approximately 20 metres south of recently reported high-grade gold results in 09TR015 and 09TR016. The hole was lost prior to reaching its planned depth with the last three metres averaging 2.3 g/t gold, indicating additional potential at depth.
09TR020 returned 5.3 g/t gold over 13.4 metres and 4.1 g/t gold over 12.9 metres in two distinct zones. This confirms that the gold mineralization continues to the south by more than 200 metres from the initial high-grade zone discovered by Oro Gold in holes 08TR012, 09TR015 and 09TR016.
These zones are interpreted to be near vertical, with a true width of 12 and 11 metres, respectively. "This continued drilling success demonstrates that we are onto a very significant gold discovery at Trinidad," commented Oro Gold's vice-president, Frank Powell. "Hole 09TR020 continues to grow the high-grade gold zone into a new area, suggesting significant depth potential and is open in multiple directions. We are now planning to extend our drilling program into the summer, in order to continue moving forward with the goal to add more high-grade gold ounces to our resource base."
09TR018 returned narrow intervals in the range of one to three g/t gold, interpreted to be located near a fault which has offset mineralization.
Core hole From (m) To (m) Interval (m) Gold (g/t) Recovery (%)
09TR018 137.4 140.0 2.6 1.0 98
169.0 170.5 1.5 2.6 97
197.2 205.7 8.5 0.9 78
223.5 229.8 6.3 0.9 56
09TR019 178.5 208.5 30.0 6.3 67
Including 192.0 196.5 4.5 17.6 53
234.0 237.0 3.0 2.3 75
09TR020 165.0 177.9 12.9 4.1 92
221.5 234.9 13.4 5.3 79
Note: Interval widths may not represent true widths.
SIGNIFICANT PREVIOUSLY REPORTED GOLD INTERVALS IN DIAMOND
DRILL HOLES
Core hole From (m) To (m) Interval (m) Gold (g/t)
08TR012 151.0 212.1 61.1 8.5
08TR013 147.0 180.6 33.6 3.8
including 160.9 168.2 7.3 15.8
08TR014 106.2 114.0 7.8 5.3
and 131.0 138.0 7.0 9.7
09TR015 124.0 189.9 65.9 5.3
including 124.0 166.5 42.5 7.6
09TR016 160.9 221.5 60.6 3.4
including 160.9 197.4 36.5 5.2
High-grade gold mineralization is now delineated over a 350-metre length and down to a depth of 200 metres below surface. The spacing between the diamond drill holes range between 20 to 100 metres. The high-grade portion of the mineralized breccia zone is averaging above five g/t gold. Step-out holes 09TR021 and 22 are in progress, testing the new zone at depth and along strike. Additional information, including location maps and figures pertaining to the continuing diamond drill program, can be viewed at the latest Trinidad drilling link on Oro Gold's home page. As well, a short production on Oro Gold's exploration activity at the Trinidad project will be broadcasted on six networks, including BNN and 120 United States stations, starting June 22, 2009. The video will be made available for viewing on Oro Gold's website soon.
The company has accomplished one of the objectives, in confirming the gold grade of the mineralized zones at the Taunus target is much higher than what has been reported in reverse-circulation holes, and is now focused on defining and expanding the new high-grade breccia zone discovered by Oro Gold. Meeting these objectives is expected to have a positive impact on the company's reported National Instrument 43-101 inferred oxide gold resource of 200,930 ounces contained in 4.5 million tonnes at an average grade of 1.4 g/t gold, based on a 0.5-gram-per-tonne cut-off. This resource estimate was released in 2008 and it does not include the high-grade gold results from the diamond drilling. The Taunus gold target is interpreted as an oxidized, low-to-intermediate, sulphidation, epithermal vein system. The mineralization is characterized by multiphase stockwork veining and hydrothermal brecciation hosted in a clastic, unit, quartz, feldspar porphyry intrusive and andesite volcanics. Oro Gold has identified 10 other gold targets within the 650-square-kilometre Trinidad district that require follow-up exploration. Based on what the company is accomplishing at the Taunus gold target with diamond drilling, this will aid in further defining and prioritizing these additional targets toward drilling. Oro Gold's technical team is interpreting this district to be situated in a northwest-trending structural corridor that extends for at least 80 kilometres formed by active, deep-seated, major fault structures. There is evidence of this in the recent drilling, based on intersecting a thick clastic and conglomerate sequence that has a vertical profile exceeding more than 250 metres in depth. The Taunus deposit is interpreted to be hosted in a local pull-apart basin within this trend.
Friday, June 5, 2009
On the look out for the next Oro Gold and Underworld Resources
As I'm not one to cease doing research just because one of my plays (Oro Gold) is on the verge of a major break-out, I've been looking this week for the next under $.20 stock that has the potential to be a 5 bagger like Oro Gold (OGR) and Underworld Resources (UW). As you know, those are few and far between but I may have come across a stock that has the potential to break-out over the next few weeks. The stock is Northern Tiger Resources (NTR.V) and I've put out a quick short story report on them which is linked on my website at the top left. Take the time to do some more research on them this weekend as their Nightmusic zone looks awful inviting. The share structure is tight which is one of the ingredients needed for a major move up in price. Once the story gets out that it is high grade gold and on trend to the Underworld Resources discovery, the price may move quickly. I've been buying shares this week under $.20 but it is difficult to buy in blocks without the price moving up quickly.
There has been a major rush to stake ground near the Underworld discovery but any drilling by other companies will be months away. Northern Tiger will be drilling this month now that they closed their $1 million private placement. As always, please do your own due diligence and sell 1/3 to 1/2 when the stock doubles.
There has been a major rush to stake ground near the Underworld discovery but any drilling by other companies will be months away. Northern Tiger will be drilling this month now that they closed their $1 million private placement. As always, please do your own due diligence and sell 1/3 to 1/2 when the stock doubles.
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