OTL.v (.79) Oriental Hits 0.41% Tungsten Over 11 Metres Near Surface -- Continues to Expand Deposit North, East and West 11/26/2007
VANCOUVER, BC, Nov 26, 2007 (MARKET WIRE via COMTEX News Network) -- Oriental Minerals Inc. (TSX-V: OTL) is pleased to announce further results from diamond drill holes SD-17, 18, 19 and 21 from the Phase 2 drill program at the Sangdong tungsten-molybdenum project in South Korea. Drilling continues to trace a relatively flat-lying, mineralized skarn covering an area of 1200 metres by 600 metres and 150 to 200 metres thick.
Results from the four holes announced today are tabulated below based on a cut-off grade of 0.05% WO3.
President and CEO Willie McLucas states: "We are extremely pleased with the results to date from Phase 2 drilling. Today's results continue to show several high-grade horizons near surface. It is significant that the thickness and grades are increasing as we move north, west and east. We believe that results to date already indicate a deposit of world-class size and have initiated an inferred resource estimate that will meet current regulatory requirements while drilling continues to expand the deposit."
Phase 2 drilling is anticipated to be complete by February with the first partial resource estimate expected to be completed by the end of December. This initial estimate will only focus on the south-eastern portion of Sangdong.
-***-SD-17 - 170m @ 0.10% WO3 (from18m to 188m) including--------------------------------------------------------------------------Hole From To Interval WO3 MoS2 Au Bi Rock Type (m) (m) (m) (%) (%) (g/t) (%) (Formation)--------------------------------------------------------------------------SD-17 18 32 14 0.12 0.01 0.01 0.04 Sedimentary Breccia (Myobong Slate)--------------------------------------------------------------------------SD-17 53 62 9 0.25 0.01 0.03 0.03 Skarn (Myobong Slate)--------------------------------------------------------------------------SD-17 102 121 19 0.33 0.01 0.06 0.05 Skarn (Myobong Slate)--------------------------------------------------------------------------SD-17 138 163 25 0.16 0.01 0.03 0.02 Skarn (Myobong Slate)--------------------------------------------------------------------------SD-17 326 331 5 0.13 0.00 0.13 0.04 Quartzite (Jangsan Quartzite)--------------------------------------------------------------------------SD-17 343 350 7 0.40 0.00 0.05 0.02 Quartzite (Jangsan Quartzite)--------------------------------------------------------------------------SD-18 - 186m @ 0.12% WO3 (from 0m to 186m) including--------------------------------------------------------------------------Hole From To Interval WO3 MoS2 Au Bi Rock Type (m) (m) (m) (%) (%) (g/t) (%) (Formation)--------------------------------------------------------------------------SD-18 1 12 11 0.41 0.02 0.13 0.06 Skarn (Myobong Slate)--------------------------------------------------------------------------SD-18 61 75 14 0.19 0.01 0.08 0.02 Skarn (Myobong Slate)--------------------------------------------------------------------------SD-18 78 84 6 0.20 0.00 0.02 0.02 Skarn (Myobong Slate)--------------------------------------------------------------------------SD-18 99 110 11 0.23 0.05 0.12 0.03 Skarn (Myobong Slate)--------------------------------------------------------------------------SD-18 113 118 5 0.18 0.00 0.06 0.01 Skarn (Myobong Slate)--------------------------------------------------------------------------SD-18 121 133 12 0.24 0.02 0.05 0.02 Skarn (Myobong Slate)--------------------------------------------------------------------------SD-18 139 145 6 0.11 0.01 0.08 0.02 Skarn (Myobong Slate)--------------------------------------------------------------------------SD-18 157 164 7 0.30 0.00 0.15 0.03 Skarn (Myobong Slate)--------------------------------------------------------------------------SD-19 includes--------------------------------------------------------------------------Hole From To Interval WO3 MoS2 Au Bi Rock Type (m) (m) (m) (%) (%) (g/t) (%) (Formation)--------------------------------------------------------------------------SD-19 195 201 6 0.14 0.00 < 0.01 0.01 Sedimentary Breccia (Myobong Slate)--------------------------------------------------------------------------SD-19 255 263 8 0.16 0.07 0.07 0.05 Sedimentary Breccia (Myobong Slate)--------------------------------------------------------------------------SD-21 includes--------------------------------------------------------------------------Hole From To Interval WO3 MoS2 Au Bi Rock Type (m) (m) (m) (%) (%) (g/t) (%) (Formation)--------------------------------------------------------------------------SD-21 157 181 24 0.30 0.11 0.24 0.05 Sedimentary Breccia/ Skarn (Myobong Slate)---------------------------------------------------------------------------****- Current Drill Status:
As at 27th October a total of 36 holes have been drilled, some of which have been necessary to abandon due to not being able to penetrate through the underground workings.
Currently, 4 diamond rigs are operational. The status of drilling is listed below.
--***-SD-29 Currently at 527 mSD-30 Completed at 345 mSD-33 Completed at 400 mSD-34 Abandoned at 40 mSD-35 Completed at 200 mSD-36 Abandoned at 119 mSD-37 Completed at 300 mSD-38 Currently drilling at 32 mSD-39 Currently drilling at 25 mSD-40 Currently setting up-****- Analytical results are awaited from the completed holes.
Updated Drill Program Map
To view an updated Drill Program Map, please go to www.orientalminerals.com
QA/QC
Samples are 1-metre split PQ, HQ and NQ core. The samples were prepared at the on-site preparation facility and pulps were submitted to ALS Chemex laboratory in Brisbane, Australia and analyzed by Ore Grade Method XRF-ME05, Au-AA21, ME-ICP41s and Ag-OG46.
Quality Control: Blanks, Standards and Coarse and Pulp Duplicates samples were routinely inserted with the drill samples at random intervals. All results confirm analysis of Standards and Coarse Duplicates are within the normal bounds of acceptable error of +/- 5%. Blank samples were clean, indicating no cross contamination in the samples. Pulp Duplicate samples are currently being processed by another independent laboratory.
QUALIFIED PERSON
This Press Release has been prepared by Oriental Minerals Senior Project Geologist Mr. Heyward Bates. Mr. Neil McLean, a member of the AusIMM with over twenty five years of relevant experience, is the Qualified Person for the purposes of this release. Mr. McLean is the Principal Geologist of the Geo Discovery Group Pty Ltd. of Brisbane, Australia, who have recently been appointed by Oriental Minerals.
On behalf of the Board of Directors, Willie McLucas
Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. Such statements are based on numerous assumptions and are subject to all the risks and uncertainties inherent in the Company's business, including risks related to mineral exploration and development. Consequently, actual results may vary materially from those described in the forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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Willie McLucas President, CEO and Director + 44 7881 816 980 For More Information Contact: Spiro Kletas Investor Relations 1-604-681-5755 www.orientalminerals.com