CALGARY, June 20 /CNW/ - Oromonte Resources Inc. (ORR:TSX-V; OF6:FRA)
announces that its new website is now available to the public at
www.oromonteresourcesinc.com. The website includes descriptions, maps and
photographs of the Company's projects as well as corporate information, stock
quotes and other matters of interest to investors.
Oromonte's exploration program is continuing with three exploration teams
in the field under the direction of VP Exploration & Mine Development, Alex
Early stage exploration work is continuing within the Company's Pangui
and Virgen del Cisne projects and preliminary work is being started on the
Marissa concession. Work on the Chimbuza project has been delayed until the
required environmental permits are received from the government. The Gold Star
mine at Nambija continues to operate.
The focus of the Company's exploration since the operations news release
(May 1, 2007) has been the southern part of the Pangui project in Southwest
Ecuador. Geologically this area is underlain by a large diorite/granodiorite
body intruded by smaller porphyry stocks. A major N-S fault has been mapped
along the western contact of the diorite/granodiorite intrusion. This fault is
parallel to a major N-S fault, located 15 km to the east, along which the
recent gold discoveries of Aurelian Resources have been made.
As reported in the May 1, 2007 news release, three anomalous areas, as
defined by anomalous copper and gold values in stream sediments and a number
of anomalous rock chip samples, were located in the diorite/granodiorite
intrusion. These anomalous areas are referred to as the Guambine, Tundaya and
La Yona anomalous areas. A porphyry stock with some argillic and silicic
alteration zones and quartz veins carrying pyrite and chalcopyrite occur
within the La Yona anomaly. Outcrops of breccia with some silicification and
sulphide mineralization have recently been discovered in the bottom of two
creek beds in this area. More detailed surface exploration to determine the
size and shape of the altered porphyries and breccia and the distribution of
mineralization within these rock types and structures is continuing.
More work consisting of rock chip sampling, soil sampling and geological
mapping is planned to commence in July on the molybdenite showing discovered
about two months ago in the Tundaya anomalous area.
Follow-up work on gold anomalies in stream sediments just west of the La
Yona anomaly was commenced in May. This anomalous area is termed the San
Andreas gold anomaly. Some placer gold occurrences were also worked in these
La Yona streams many years ago by artisanal miners. Initial prospecting has
discovered a NE trending tectonic breccia zone. This breccia zone contains
quartz fragments and is cut by drusy and banded quartz veins and locally
quartz vein stockworks. Rock chip samples were taken from the breccia and
quartz veins however assays have not been received as yet.
The next stage of exploration at Pangui is to complete a first pass
program of prospecting and stream sediment sampling over the remainder of the
property and to assess and priority rate newly discovered anomalies and the
targets within the known anomalous areas with the objective of defining drill
Exploration within our Chimbuza project has been slowed down while the
required environmental reports are completed and reviewed by government. Thus
the geophysical work in preparation for a drilling program has also been
delayed until late summer or early fall.
The Marissa project consists of a 3025 hectare concession about 55km SW
of Cuenca, Ecuador that was purchased as part of the Virgen del Cisne
properties. The attractive features of this property are its location
(adjacent to a property with known mineralization which is presently being
explored by another company), the presence of a hydrothermal breccia and a
placer gold deposit on the property. Oromonte has a geological team carrying
out prospecting, rock sampling and detailed geological mapping. Assay results
from preliminary sampling are expected within a couple of weeks.
An exploration program consisting of prospecting, rock sampling and
stream sediment sampling is expected to begin on the other Virgen del Cisne
properties in July.
As the Ecuadorian people and government are becoming more directly
involved in social and environmental issues dealing with mineral exploration,
the Company must engage in a considerable amount of community relations work
before and during exploration activities. This can cause some delays in
initiating exploration on properties and in following up anomalies but is an
investment in time and resources that is expected to result in solid and
long-lasting community support enabling the Company's projects to move
Exploratory gold production continues at our Gold Star mine in Nambija
which has averaged 2 kilograms (65oz)/month. The General Manager reports gold
production in May of 3.05 kilograms (98oz).
Samples from the projects are sent to the ACME preparation facility in
Cuenca, Ecuador for preparation and then sent to the ACME laboratory in
Vancouver for analysis. The samples are analysed by Group 1F-MS-15g. If a rock
sample yields more than 5g/t it is assayed by Group 6-500g. Drill samples from
the Gold Star mine are assayed by Group 6 Fire Assay on a 30g sample. If the
sample yields more than 5g/t a metallic fire assay Group 6-500g is used. The
quality control protocols that are in place consist of the insertion of one
blank for every 30 samples, a field or lab duplicate every 30 samples and one
of three different certified reference standard materials for every 30 rock
samples and for soil and stream sediment samples the insertion of one standard
for every 20 samples.
The drilling and exploration programs are under the supervision of
Oromonte's VP Exploration and Mine Development, Alex Cruz. Mr. James Allan,
Consulting Geological Engineer, has been retained by Oromonte Inc. to provide
QP services in compliance with National Instrument 43-101. Mr. Allan has
reviewed the contents of this release for accuracy.
Oromonte Resources Inc. is a mineral exploration company engaged in the
acquisition, development and exploration of mining properties in Ecuador. The
Company has acquired mining concessions through lease and outright purchase
consisting of four consolidated properties namely: Chimbuza Property, Nambija
Property, Pangui Property, and Virgen del Cisne Property. These projects are
in early stage development with environmental studies and/or exploration
programs currently being implemented to identify drilling targets.
The Company trades common shares and warrants on the TSX Venture Exchange
under the symbol ORR and common shares on the Frankfurt Stock Exchange under
the symbol OF6.
For further information you can visit the Company's website at:
The TSX Venture Exchange has not reviewed, and does not accept
responsibility for the adequacy or accuracy of, this release.
No stock exchange, securities commission or other regulatory authority
has approved nor disapproved the information contained herein. The News
Release includes certain "forward looking statements". All statements other
than statements of historical fact, included in this release, including,
without limitation, statements regarding potential mineralization and
reserves, exploration results, and future plans and objectives of Oromonte,
are forward looking statements that involve risks and uncertainties. There can
be no assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results to differ
materially from Oromonte's expectations are exploration risks detailed from
time to time in the filings made by Oromonte with securities regulations.
For further information:
For further information: Bruce Cottingham, CEO, Oromonte Resources Inc.,
Suite 525, 101 - 6th Ave. S.W., Calgary, Alberta, Canada, T2P 3P4, Tel: (403)
262-1816, Fax: (403) 262-1826