Orofino Gold Corporation - Targets ten million ounce copper/gold porphyry system
HONG KONG, April 27 /PRNewswire-FirstCall/ - Orofino Gold Corp. (PINK OTC: ORFG) ("Orofino Gold" or the "Company") has several viable Gold development properties in Colombia, a current hot spot of gold production in the world markets.
Orofino Gold has categorized the Senderos de Oro properties as good high priority, high return opportunities. These properties are in areas of known gold reserves, and have current small scale production of Gold. Recent samples returned values as high as 250 grams Gold with high copper values exceeding 10%. Geological trending indicates continuation at depth.
Ground reconnaissance to date implies the presence of a metallogenic domain spanning the entire properties with rather spectacular artisanal gold production. The area is virtually unexplored from a modern metallogenic standpoint, but based upon work to date, it demonstrates very good potential for the economic occurrence of:
Large scale high level, volcanic-hosted epithermal gold deposits which currently support artisanal mining.
Porphyry-style copper+/- gold system as seen at several locations at Senderos de Oro and which are currently mined and milled by local artisanal miners who recover only the free gold with cut-off level at 90 grams/tonne. Soil Geo- Chemistry over a 450m by 1700 metres area has found it to be anomalous with gold with a potential to contain several hundred million tonnes to a depth of only 200 metres.
High-grade, mesothermal, "Segovia" - style gold vein systems, similar to the prolific Colombian producer Frontino Gold Mines (FGM), located in the Frontino Gold Belt, is the country's principal underground gold producer, with an annual production target of 60,000 oz. FGM has been in continual operation for over 150 years and currently produces from three underground mines near the town of Segovia hence the reference.
Orofino Gold Corp. will continue with the development of these significant targets and plans a drill program as soon as permits allow.
Forward-Looking Statements
The statements by our officers, and other statements regarding optimism related to the business, expanding exploration and development activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business. Words such as expects, anticipates, intends, plans, believes, sees, estimates and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many risk factors that affect the industry the Company operates in and other risk factors listed from time to time in the Company's Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere. The forward-looking statements contained in this press release speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
SOURCE Orofino Gold Corp.
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