RE: RE: drill results !!! hmmm...not easy to post the news. But are excellent numbers...and strong evidence of a new high grade zone in the deposit...will increase the size of the resource.
Oracle Mining drills 25 feet of 4.3% Cu at Oracle Ridge
Oracle Mining Corp (C:OMN)
Shares Issued 31,434,070
Last Close 2/8/2012 $1.25
Thursday February 09 2012 - News Release
Mr. Alex Langer reports
ORACLE MINING INTERCEPTS 25 FEET OF 4.34% COPPER AND 27 FEET OF 3.57% COPPER IN NEW DRILLING
Oracle Mining Corp. is providing the results of its continuing drilling program at the Oracle Ridge copper mine, located in southern Arizona. Hole ODH-19 encountered six zones of greater than 1.0% copper mineralization, including 27 feet of 3.57% copper and 1.07 oz/ton silver. Assays for an additional zone in ODH-19 are pending.
Hole ODH-19 was drilled in the direction of a previously untested skarn bed located during recent surface mapping and is coincident with the edge of a geophysical anomaly. The presence of six separate intercepts indicates this area has the potential to host multiple skarn beds similar to the historic Zone 1 and 2 areas.
Additional holes were also drilled to define and enlarge the known extent of the Zone 4 Escabrosa limestone hosted skarn bed. Highlights of these holes include 25 feet of 4.34% copper and 1.11 oz/ton silver in ODH-15 and 59 feet of 2.32% copper in ODH-17.
The following tabulates the intercepts obtained from this phase of the drilling program.
---------------------------------------------------------------------------- Au Ag From To Width Cu (oz/ (oz/ Hole (feet) (feet) (feet) (%) ton) ton) Zone Formation----------------------------------------------------------------------------ODH-012 527.5 542 14.5 1.86 0.008 0.39 4 Extension Escabrosa----------------------------------------------------------------------------ODH-015 552.0 612.0 60.0 2.84 0.012 0.72 ---------------------------------------------------- 4 Extension Escabrosa includes 567.0 592.0 25.0 4.34 0.017 1.11 ----------------------------------------------------------------------------ODH-016 500.0 507.5 7.5 1.63 0.014 0.48 4 Extension Escabrosa----------------------------------------------------------------------------ODH-017 520.0 579.0 59.0 2.32 0.013 0.55 ---------------------------------------------------- 4 Extension Escabrosa includes 560.0 579.0 19.0 2.85 0.017 1.00 ---------------------------------------------------------------------------- and 619.0 629.0 10.0 1.72 0.010 0.53 2 Martin ---------------------------------------------------------------------------- and 659.0 669.0 10.0 1.90 0.010 0.55 2 Martin ----------------------------------------------------------------------------ODH-018 508.0 523.0 15.0 2.07 0.014 0.50 4 Extension Escabrosa----------------------------------------------------------------------------ODH-019(i) 827.0 857.0 30.0 1.93 0.014 0.50 ---------------------------------------------------- and 909.0 923.0 14.0 2.82 0.017 0.70 ---------------------------------------------------- and 937.0 947.0 10.0 1.94 0.018 0.47 New Targets ---------------------------------------------------- between and 1007.0 1034.5 27.5 3.57 0.024 1.07 Zones 11 and 12 ---------------------------------------------------- and 1058.0 1067.0 9.0 1.92 0.010 0.35 ---------------------------------------------------- and 1102.0 1117.0 15.00 2.00 0.010 0.63 ----------------------------------------------------------------------------ODH-020 421.0 431.0 10.0 1.86 0.008 0.60 4 Extension Escabrosa----------------------------------------------------------------------------ODH-021(i) 456.0 486.0 30.0 1.55 0.008 0.33 ---------------------------------------------------- 4 Extension Escabrosa includes 471.0 486.00 15.00 2.17 0.011 0.44 ----------------------------------------------------------------------------(i) Assays pending for other zones
Intervals were calculated using an external 1.0% copper cut-off and may include internal waste to reflect a potential mineable width. Holes ODH-13 and ODH-14 encountered only sub 1.0% copper mineralization. True widths will need to be modeled but are believed to be 70% to 100% of the stated interval length. Intervals labeled "Includes" are higher-grade portions of the previous listed interval. Assays for copper, silver and gold were performed by Skyline Labs of Tucson, Arizona on split core samples using standard industry accepted techniques.
The results encountered in Hole ODH-19 continue to reinforce the Corporation's belief that the undrilled portions of the property have significant potential to host additional +1.0% copper mineralization. Drilling is currently underway on two targets outside of the historically drilled area of the property.
These holes were drilled as part of the Corporation's ongoing historic data base confirmation program. The successful completion of the validation program will allow the Corporation to undertake a National Instrument 43-101 compliant resource estimation. Results to date compare well with the historic data.
The technical information in this media release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed by Glenn R. Clark, P.Eng., of Glenn R. Clark & Associates Limited, a consultant for Oracle Mining and a Qualified Person under NI 43-101, who is responsible for the technical information reported herein.