YEREVAN — Orogen Gold has confirmed a new gold discovery at Mutsk, Armenia, following assay results that revealed substantially higher gold grades than previously reported.

“These results confirm Mutsk as an exciting new gold discovery at shallow depths within an established epithermal district,” said CEO Ed Slowey in a statement, StockMarketWire.com reports.

“Assays from the Orogen confirmatory holes at Mutsk, as well as re-assays of the previous holes have exceeded our expectations for the project. While further work is needed to fully understand the controls on mineralisation, we are particularly encouraged by the high grades and widths encountered in several of the holes and the apparently large strike extent of the system,” he added.

“We have informed our Armenian partners that we will now proceed to Phase 2 of our programme under which Orogen has an option to earn an 80% interest in the Mutsk project by spending a total of US$2.5 million by end August 2016,” Slowey said.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletters

Get notified of the latest updates from MassisPost.

You May Also Like

April 24 Istanbul and Diyarbakir Commemoration Programs Announced

ISTANBUL (Agos) — The 100th Anniversary End to Denial Initiative has announced…

OSCE Foreign Ministers’ Meeting in Potsdam to Address the Karabakh Issue

BERLIN (Armradio) — The informal meeting of OSCE Foreign Ministers in Potsdam…

NAASR’s Mardigian Library Receives Rare Guerguerian Archives

BELMONT, MA — The National Association for Armenian Studies and Research has…

Scientific Publication of Russian Empire about Destruction of Christian Monuments in Barda by Tatars

YEREVAN (Panorama.am) — G. Osipov, a teacher at Kasapet school, published an…