Oracle Mining intersects 87,5 foot with 2,3% copper and 17,5 foot with 5,8% copper
15.05.2012/XNUMX/XNUMX Vancouver, British Columbia - Oracle Mining Corp. ("Oracle Mining" or the "Company") (TSX: OMN, OTCQX: OMCCF, FRANKFURT: OMC) is pleased to announce the assay results from a new zone of mineralization that is being explored as part of the ongoing drill program at the Oracle Ridge copper mine in southern Arizona to announce.
In hole ODH-24, an 17,5 foot-wide section with a copper content of 5,81% was intersected in hole ODH-27, an 26,0 foot-wide section with 3,27% copper. In addition, the company also considers hole ODH-26, in which an 87,5 foot wide interval was detected with 2,32% copper, to be important; These findings indicate an extensive irregularity in the contact zone between intrusive and carbonate rocks. Abrupt changes in the orientation of the contact zone between intrusive and carbonate rocks also occur in other areas with extensive skarn mineralization.
The new target area was identified by a mineralization exposed in the area of the ramp connecting the transport routes 5900 and 6400. With no data from previous drilling in this area, these intersections are a new zone of mineralization that is not included in historical resource data. The following table shows the sections of this phase of the drill program:
The sections were calculated taking into account an external copper cut-off value of 1,0% and may also include internal space material to represent the possible recoverable thickness. The true width of the holes to date must first be determined by modeling, but is estimated to be between 70 and 100% of the specified section length. Sections indicated as "inclusive" are higher grades within the previous section in the table.
The results obtained in the holes ODH-24, ODH-26 and ODH-27 confirm the company's belief that there is a high probability that further copper mineralization will be above 1,0% in the undrilled sections of the property. These holes were drilled as part of the ongoing historical data review program. Upon successful completion of the confirmation drilling, the Company will be able to address a NI 43 101 compliant resource estimate.
Oracle Mining started the current drill program at the beginning of 2011; Since then, samples have been taken from a total of 32 holes and the results have been published. The previous analysis results are consistent with the data from the previous drilling. The Company is currently conducting a sample analysis, evaluating all relevant elements, and identified as possible by-products also silver and gold mineralization, which could further increase the economic value of the project.
All areas of sampling and analysis are rigorously controlled by Oracle Mining. The drill core is inspected, logged, marked for sampling and sawn in half. One half of the core is kept for reference, the other half is sent to the laboratory for analysis. The core core samples are shipped to the Skyline Assayer and Laboratories ("Skyline") laboratory, a certified laboratory located in Tucson, Arizona. Skyline was commissioned with the preparation and analysis of all samples. The samples are analyzed by appropriate copper analysis techniques and by fire assay for silver and gold. For the purposes of quality control, Skyline also uses standard and blank samples and announces the corresponding analysis results. Oracle Mining periodically hands over the processing residues of the samples evaluated by Skyline to Chemex in Reno, Nevada.
The technical information contained in this news release was prepared in accordance with Canadian regulatory requirements under NI 43-101 and published by Glenn R. Clark, P.Eng. (Glenn R. Clark & Associates Limited) as a consultant to Oracle Mining and a qualified person under NI 43-101. He is responsible for the specialist information presented here.
About Oracle Mining Corp.
Oracle Mining Corp. (TSX: OMN, OTCQX: OMCCF, FRANKFURT: OMC) is a Vancouver (Canada) based company that owns and operates Oracle Ridge Mining LLC and associated copper mine 24 miles north of Tucson, Arizona. Oracle Mining has little long-term debt and is managed by an experienced team of mining professionals with extensive operational and financial experience. The aim of the company is to find promising projects whose value has not yet been realized, and thus to achieve excellent returns for its shareholders.
For further information please contact:
Alex Langer, VP Capital Markets
T: 604-689-9293
toll-free Tel.Nr .: + 1-855-689-9282
or
Jason Mercier, VP Corporate Secretary
Tel: 604-689-9261
E: [email protected]
www.oracleminingcorp.com
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Disclaimer with respect to forward-looking statements
This document may contain "forward-looking statements" within the meaning of Canadian securities laws. These forward-looking statements are effective as of the date of this document and are believed to be Oracle Mining Corp. (referred to herein as the "Company") has no intention and is under no obligation to update these forward-looking statements. Forward-looking statements relate to events or performance in the future and reflect management's expectations or opinions about future events. These include statements on the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the receipt of permits required for the development and operation of the project, the timing and quantity of estimated future production, production and investment costs, project financing, successful mining operation, commodity prices, environmental risks, unexpected reorganization expenditure, disputes relating to ownership or Liability claims and limited insurance coverage. In certain cases, forward-looking statements may involve the use of terms such as "plan," "expects," "does not expect," "anticipates," "budgeted," "estimates," "forecasts," "intends," "does not intend," or "believes" to recognize or to modifications of such words and phrases or to statements according to which certain actions, events or results "might", "become" or "become" their negative form or comparable terms. Forward-looking statements are typically subject to known and unknown risks, uncertainties and other factors that could cause the Company's actual results, performance or achievements to differ materially from the future results, performance or achievements identified or implied by the forward-looking statements , Such factors include, but are not limited to, the actual results of current exploration activities; Changes in project parameters due to ongoing planning; future resource prices; possible changes in ore reserves, content or recovery rates; Accidents, labor disputes and other risks of the mining industry; Delays in obtaining regulatory approvals or financing or in the execution of development or construction work; as well as those factors from time to time in the company's annual report for the 31. December 2011 ending fiscal year and published on SEDAR at www.sedar.com. The Company has endeavored to identify important factors that could cause actual events or results to differ materially from those contained in the forward-looking statements. However, other factors may cause the events or results to not be as expected, estimated or intended. There can be no assurance that any forward-looking statements will prove to be accurate. Actual results and future events may differ materially from such statements.
