Friday, September 13th 04:14 PM IST

Mining Update: Orca Gold completes second drilling at Sudan property

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On September 9, 2013, Orca made a second option payment of US$3 million to its joint venture partner. This payment increases Orca's interest in the joint venture company, Meyas Sand Minerals Co. Ltd ("MSMCL") from 35.0% to 52.5%. Orca must make a final option payment of US$3 million by September 20, 2014 to retain and increase its interest in MSMCL to 70%.

Image courtesy of FreeDigitalPhotos.net

VANCOUVER, BRITISH COLUMBIA : Orca Gold Inc. (TSX VENTURE:ORG)  has announced the successful completion of the second drilling campaign of an initial exploration program at the Galat Sufar South ("GSS") prospect on its Block 14 mineral license in Sudan.

Based on the results of a comprehensive analysis of the initial exploration programs at GSS the Board of Directors has approved:an exploration budget aimed at delineating an NI 43-101 compliant initial resource at GSS by the end of the first quarter of 2014; andthe second required option payment to increase Orca's interest in the Block 14 license to 52.5%.

On September 9, 2013, Orca made a second option payment of US$3 million to its joint venture partner. This payment increases Orca's interest in the joint venture company, Meyas Sand Minerals Co. Ltd ("MSMCL") from 35.0% to 52.5%. Orca must make a final option payment of US$3 million by September 20, 2014 to retain and increase its interest in MSMCL to 70%.

Results from the second drilling campaign at GSS continue to exhibit wide intercepts and excellent grades (eg: holes GSDD004: 59m @ 2.43 g/t, GSRC161: 26m @ 3.78 g/t, GSDD008: 48m @ 2.26 g/t, GSRC174: 32m @ 6.63 g/t). The entire results are set out in Schedule A to this release and in full represent 5,897 metres of drilling completed since the last exploration update (News Release: May 16, 2013). A total of 15,940 metres of drilling (13,790m of RC and 2,150m diamond) has been completed to date at GSS. For ease of reference, the results reported previously are attached as Schedule B. The Orca exploration team is extremely encouraged by the consistent widths of high grade material being intersected.

Simon Jackson, President & CEO, said, "We are very excited by the discovery of GSS and its potential. Exploration to date indicates solid widths to the mineralization accompanied by significant grade. Our internal review of results from our first program provides a compelling basis for increasing our interest in Block 14 and advancing our pace of exploration. Our initial entry into Block 14 was always with the objective of finding a deposit that is capable of becoming a commercial mining operation, and we believe that GSS is showing early signs that it has real potential to fulfill that objective."Seabridge Gold Acquires an Additional 1,671,000 Common Shares of Calico Resources Corp. Upon Exercise of Special Warrants 

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