New Shallow-Depth Exploration Work at Culo Alzado Returns Promising Results for Orofino Gold Corp. (ORFG)
MEDELLIN, Colombia, May 3, 2011 /PRNewswire/ -- Orofino Gold Corp. (OTCQB: ORFG) has begun opening various exploration adits and vertical shafts in the Culo Alzado mining area. These exploration shafts are within the same boundary area where geochemical anomalies were noted in the report by Robert P. Shaw, P.Geo, prepared in 1995 and recently released by Orofino, as well as the recently released technical report by Thomas H. Carpenter, P.Geo, prepared on behalf of Orofino Gold Corp.
The shafts are being developed along vertical veins roughly oriented on a northeast trajectory. They are in close proximity to nearby excavation projects artisanal miners have been successfully developing for more than 30 years. Initial work on these still-shallow areas has revealed vertical, mineralized veins of gold deposits. Early results from samples taken from the adits have shown in excess of 10 grams of gold per tonne in veins up to one metre in width and open at depth. These promising shallow-depth results indicate the potential for higher grades of mineralization at deeper depths along the same axis. Orofino expects to provide further information from these early-stage explorations as information becomes available.
Orofino Gold is a Colombian based gold producer, founded as a private company in 2009 by former executives with over 50 cumulative years in mining exploration, finance, and development expertise. Orofino's corporate objective is to continue to build shareholder value through the exploration and development of The Senderos de Oro Gold Camp and additional accretive acquisitions, capitalizing on the extensive experience and relationships that management has developed over the past 25 years.
Forward-Looking Statements: The statements by our officers, and other statements regarding optimism related to the business, expanding exploration and development activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business. Words such as expects, anticipates, intends, plans, believes, sees, estimates and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many risk factors that affect the industry the Company operates in and other risk factors listed from time to time in the Company's Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere. The forward-looking statements contained in this press release speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
SOURCE Orofino Gold Corp.