Oracle Mining has reported the further assay results from its Oracle Ridge Copper Mine, southern Arizona.
The company has cut seven holes and encountered high-grade copper mineralization in regions that are expanding outside the earlier prominent mineralization. It has intersected 3.09% copper over 24 ft in the drill hole ODH006, 3.45% copper over 30 ft in the hole ODH007 and 2.70% copper over 35 ft in the hole ODH008.
Oracle estimated the intervals by means of an external cut-off of 1.0% copper and the intervals might add internal waste for returning a prospective mineable thickness. Modeling of the true thickness is required but the widths are considered to be 70 to 100% of the confirmed interval length. Skyline Labs of Arizona conducted the assays on the split core samples for gold, iron, copper and silver by employing standard industry accepted methods.
Based on the continuing previous data base confirmation campaign, the company drilled these holes. The confirmation program completion will permit Oracle to commence the NI 43-101 compliant resource calculation.
Presently, three surface drill rigs are present on site. The company is anticipating the completion of a NI 43-101 technical report before 2011 end, depending on the assay data from the progressing confirmation drill program.
Source: http://www.oracleminingcorp.com/