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1. Q: What is currently going on now at the Trinidad project?
A: click here.
2. Q: What is the plan for 2010?
A: Oro Gold's objective for the 2010 exploration program will be to advance the Trinidad property
with a focus on:
Drilling - continued drilling throughout 2010 is planned in order to:
- expand the size of the HS Zone
- identify overall size and connectivity to the Bocas, Taunus South, and Eldorado South
zones
- test for potential new gold zones at depth beneath the HS zone
- de-water the pit in order to (i) drill and potentially upgrade the historic reverse circulation
(RC) gold grades in the shallow Eldorado zone, and (ii) drill the potential extension of
the HS zone immediately beneath the pit, only accessible for drilling once the pit is
drained.
- test additional drill targets that have been identified from the recent geophysical program.
New Gold Discovery - Oro Gold has a goal in place to make a new discovery within the Rosario Gold Belt in 2010. The Company has identified 10 gold targets to date that will be explored over the next season. Oro Gold's exploration next year within the Gold Belt will include the Trinidad and the Tigra Nigra concessions.
3. Q: How many ounces do you think you now have at Trinidad, and what are you
targeting?
A: We believe we are significantly adding to the resource; however we cannot disclose a number
until we have a revised NI-43-101 resource estimate. Our internal goal for this next step in our
exploration activity is to focus on the high-grade gold zones that could potentially represent
more than 5 million tonnes having a gold grade above 5 grams per tonne (in the Inferred
resource category), and of course with very significant upside remaining on the property.
4. Q: Do you plan to take Trinidad to a feasibility study, or would you leave that for
a proven gold producer to complete?
A: We will do whatever it takes to create maximum value for our shareholders.
5. Q. You managed to raise $12 million in a time when it is very difficult to attract
investment in the venture capital markets. How were you able to do this?
A: The interactions we had with institutions and many investment dealers proved very positive,
and of course having the backing of our major shareholders who have supported us since the
beginning has been key. We have one the better gold properties out there generating some
of the best drill results in the market, and considered early days for investment upside. We
believe the investment community is also attracted to our management team, knowing our
proven track record working together in discovering and advancing multi-million ounce deposits.
6. Q: How will you spend the $12 million?
A: We are executing a more extensive exploration program at Trinidad. The program will comprise
of three project initiatives: T1 (Taunus high-grade extension) – advanced exploration to include
geophysical surveys, clay studies, structural mapping, and drilling to identify the extensions to
the high-grade mineralization with the objective of increasing the gold resource at Taunus; T2 –
exploration outside of the Taunus deposit with the objective in discovering and defining a new
gold resource area; and T3 (regional exploration) – exploring in the 2,350-square-kilometre
Trinidad district following-up on targets identified to date with the objective of making a new
gold discovery along the regional trend in which the Taunus deposit lies. The budget planned
for the second half of the year is minimum $3 million. We continue to reduce and maintain low
costs related to accounting, legal and administrative overhead by more than 50 per cent. The
majority of the funds will be allocated toward exploration and corporate development activities.
7. Q: As we get into Spring, what are you doing to maintain your exposure
to the capital markets?
A: By providing regular updates to our shareholders, and having meetings and giving presentations
to brokers, analysts, fund managers, and private accredited investors. We are currently gearing
up to substantially increase our promotional activity during the 1st quarter in 2010 as we strive
to continue showing positive results to the market.
8. Q: What is your current situation in Panama?
A: We have maintained a very low overhead cost, while we await granting title of 5 properties
(totaling over 867km2) that are considered some of the most prospective mineral belts for
precious metals in the country, and we will have 100% ownership.
9. Q: When will you start receiving analyst coverage?
A: Although no formal coverage have been received to date, management had very
positive discussions with some of the analysts during PDAC '10 and as a result, will start to keep
us on their radar screens.
10. Q: Are you only focused on drilling and growing the gold resource base at the Taunus
deposit target area?
A: No, we have numerous gold targets identified and being advanced on our (approaching 3,000
sq-km) property package, 100%-owned, and host to several large gold districts along the
"Golden Coast". We made a brand new gold discovery which management believes is
significant - over a 3 kilometre long vein footprint, and continues to expand based on
systematic surface exploration. This target area is called San Cristobal, and is now going to be
drilled in March-April. We are also taking a strategic approach outside of Taunus - three
separate projects: (a) Trinidad (where most of the exploration focus and money has been to
date), (b) Rosario and (c) Tigra Negra. There will be more news from the Rosario and Tigra
Negra projects as we complete exploration on these projects. We are confident that we are
positioned in the next major gold district in Mexico that will host multi-million ounce potential
that will attract any large gold producer. (click here to see the projects) |
