Orofino Gold Corp. (ORFG): Historical Data Provides Good News for the Company.
MEDELLIN, Colombia, April 21, 2011 /PRNewswire/ -- Orofino Gold Corp. (OTCQB : ORFG.PK) is pleased to make public historical exploration findings of its Colombian mining concessions produced by a previous licensee before the eventual forfeiture of that license. The technical data compiled by Geologist Robert P. Shaw, P.Geo on behalf of Guavita S.A., whose claims to the Sur de Bolivar concessions were purchased by Metallica Resources, and, eventually by AngloGold provides detailed, surface-level analysis of the area that now includes Orofino's concessions.
Highlighted excerpts from this report include:
- "Gold mineralization is widespread, with virtually every rock type and every structural orientation hosting veining returning anomalous gold values."
- "The region is virtually unexplored from a modern metallogenic standpoint, but ... it demonstrates very good potential for the economic occurrence of: 1) large-scale high level, volcanic-hosted epithermal gold deposits...; 2) porphyry-style copper+\- gold systems… and; 3) high-grade, mesothermal, 'Segovia'-style gold vein systems."
- "Ground reconnaissance to date, implies the potential presence of an as yet poorly recognized metallogenic domain spanning 1000's of square kilometers, which is only recently surfacing, in the form of rather spectacular artisanal gold production."
The encouraging findings from this 1995 report resulted in Guavita S.A. initiating a "fast-track evaluation" of its concessions in preparation for diamond drilling. However, drilling never commenced because the eventual licensor, AngloGold, withdrew from the region due to social concerns. Orofino's acquisition of the Sur de Bolivar concessions occurred following the area's well-publicized stabilization. In this substantially improved social and economic environment, Orofino is currently working with the authors of these initial reports to bring them current to 2011. The complete historical report is available at www.orofinogoldcorp.com, and updates to these reports will be released as they become 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.
For further information, visit www.orofinogoldcorp.com
SOURCE Orofino Gold Corp.
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