This stock should be 5 Dollars!!!!!!!!!!!!
More amazing results
Oromin Explorations Ltd.: A New High-Grade Discovery at Sabodala to Complement Six Other Gold Deposits
Ticker Symbol: C:OLE U:OLEPF
Oromin Explorations Ltd. (TSX: OLE)(OTCBB: OLEPF) –
HIGHLIGHTS
– NEW GOLD DISCOVERY NEAR KEREKOUNDA DEPOSIT IDENTIFIED BY RECENT DRILLING
– ADDITIONAL DRILLING RESULTS AT KEREKOUNDA DEPOSIT DEMONSTRATE FURTHER CONTINUITY AND SIZE EXPANSION
– SRK’S PRE-FEASIBILITY STUDY CONTINUES ON SCHEDULE TOWARDS Q3 COMPLETION
– LATEST DRILLING RESULTS INCLUDE:
— 12 metres of 10.20 g/t gold in RC-578 at Oromin’s New Discovery
— 12 metres of 23.53 g/t gold and 8 metres of 16.54 g/t gold in RC-579 at Oromin’s New Discovery
— 11 metres of 5.96 g/t gold in DH-448 at Kerekounda
— 9 metres of 8.48 g/t gold in RC-596 at Kerekounda
— 8 metres of 13.97 g/t gold in RC-601 at Kerekounda
— 19 metres of 3.21 g/t gold in DH-439 at Masato
— 16 metres of 2.20 g/t gold in RC-587 at Masato
Oromin Explorations Ltd. (“Oromin”), on behalf of the Oromin Joint Venture Group (“OJVG”), is pleased to announce additional results from the ongoing step-out and in-fill drilling program at its Sabodala Gold Project in eastern Senegal. The majority of 2009 drilling to date has focused on the lateral and vertical expansion to the high-grade Kerekounda gold deposit, as well as resource expansion drilling at each of the Golouma West, Golouma South and Masato gold deposits.
NEW DISCOVERY
Oromin is systematically examining numerous new targets on the project, based on geological, geochemical and geophysical criteria. One of these new targets is located 1 km south of the recently discovered Kerekounda deposit, in the vicinity of Golouma Northeast, where previous results include: 98.37 g/t gold over 3 metres in DH-72 and 17.61 g/t gold over 8 metres in DH-73. This New Discovery has successfully been intersected by two drill holes on the same drill Section, with a down-dip separation of approximately 100 metres, as outlined in the following table:
-------------------------------------------------------------------------- Grid Azimuth/ From-To Interval Gold Drill Hole Co-ordinate Dip (m) (m) (g/t) -------------------------------------------------------------------------- RC-578 53553N/5375E 030/-50 56-68 12 10.20 incl.56-63 7 17.13 incl.60-61 1 107.0 125-127 2 6.83 -------------------------------------------------------------------------- RC-579 53501N/5345E 030/-50 192-204 12 23.53 WOW! incl.195-196 1 76.75 and 199-202 3 60.14 incl.201-202 1 128.9 209-217 8 16.54 incl.213-217 4 32.48 incl.215-216 1 114.4 -------------------------------------------------------------------------- Mineralized intervals are based on 1-metre composite samples utilizing a 0.5 g/t gold cut-off level with a maximum internal dilution of 2 metres. No cutting of gold assays has been employed for reported intervals. The attitude of mineralized intervals varies and reported mineralized intersections may not represent true widths.
KEREKOUNDA DEPOSIT
As the following table indicates, favourable widths and high-grade results continue at the Kerekounda gold deposit, a continuous shear-hosted vein system for which significant results are now available over a minimum 300-metre strike extent and a minimum down-dip extent of 300 metres, as established by DH-426, DH-427 and DH-428. Current drilling is systematically stepping out to test the down-dip extent beneath certain deeper intersections, including the previously released 10.12 g/t gold over 13 metres in DH-426. Kerekounda remains open to expansion both laterally and to depth. Oromin management continues to be encouraged by this early-stage drilling success at Kerekounda. Based on the present geometry, continuity and high-grade nature of results received to-date, Oromin views Kerekounda as an attractive, early-stage combined open pit and underground mining opportunity that will enhance and complement previously announced preliminary resources at the Masato, Golouma west and Golouma South gold deposits.
The following table outlines the significant drilling results recently received from Kerekounda:
-------------------------------------------------------------------------- Grid Azimuth/ From-To Interval Gold Drill Hole Co-ordinate Dip (m) (m) (g/t) -------------------------------------------------------------------------- DH-435 54523N/5308E 060/-60 312-317 5 3.47 -------------------------------------------------------------------------- DH-436 54666N/5266E 060/-60 233-236 3 2.70 241-244 3 4.37 -------------------------------------------------------------------------- DH-437 54612N/5290E 060/-62 255-257 2 3.88 261-264 3 4.84 -------------------------------------------------------------------------- DH-445 54589N/5295E 060/-58 251-265 14 4.08 Incl.254-259 5 7.30 -------------------------------------------------------------------------- DH-448 54571N/5326E 060/-58 234-245 11 5.96 Incl.241-245 4 10.66 255-260 5 4.58 -------------------------------------------------------------------------- RC-583 54666N/5386E 060/-55 128-132 4 7.17 Incl.129-130 1 19.91 -------------------------------------------------------------------------- RC-584 54665N/5385E 060/-62 134-137 3 6.61 148-150 2 7.42 -------------------------------------------------------------------------- RC-594 54666N/5517E 060/-48 7-13 6 5.01 Incl.12-13 1 24.11 -------------------------------------------------------------------------- RC-596 54622N/5540E 060/-45 8-17 9 8.48 Incl.9-10 1 38.82 -------------------------------------------------------------------------- RC-599 54636N/5503E 060/-50 16-18 2 7.31 28-30 2 8.39 -------------------------------------------------------------------------- RC-600 54693N/5463E 060/-50 47-54 7 8.53 Incl.47-51 4 13.89 -------------------------------------------------------------------------- RC-601 54692N/5462E 060/-70 61-69 8 13.97 Incl.66-68 2 28.46 -------------------------------------------------------------------------- RC-611 54548N/5348E 060/-58 241-246 5 10.70 -------------------------------------------------------------------------- RC-612 54461N/5396E 060/-60 175-179 4 7.38 Incl.178-179 1 25.86 -------------------------------------------------------------------------- RC-600 54693N/5463E 060/-50 47-54 7 8.53 Incl.47-51 4 13.89 -------------------------------------------------------------------------- Mineralized intervals are based on 1-metre composite samples utilizing a 1.0 g/t gold cut-off level with a maximum internal dilution of 2 metres. The attitude of mineralized intervals varies and reported mineralized intersections may not represent true widths.
MASATO DEPOSIT
As a component of the ongoing Pre-Feasibility Study, a number of drill holes were recommended by SRK Consulting. The majority of these holes were designed as resource definition in-fill holes, of which the following table outlines the significant results currently available from this drilling activity:
-------------------------------------------------------------------------- Grid Azimuth/ From-To Interval Gold Drill Hole Co-ordinate Dip (m) (m) (g/t) -------------------------------------------------------------------------- DH-438 59200N/4435E 113/-75 188-191 3 3.12 218-238 20 1.25 Incl.218-222 4 2.99 Incl.220-221 1 9.81 -------------------------------------------------------------------------- DH-439 59573N/4469E 111/-70 86-89 3 2.46 109-117 8 1.35 184-203 19 3.21 -------------------------------------------------------------------------- DH-440 59475N/4583E 110/-60 12-27(i) 15 1.80 Incl.22-26 4 3.29 -------------------------------------------------------------------------- DH-442 60198N/4881E 110/-45 19-24(i) 5 1.83 -------------------------------------------------------------------------- DH-446 59951N/4724E 110/-50 28-48(i) 20 1.43 Incl.45-46 1 7.01 -------------------------------------------------------------------------- RC-585 59806N/4547E 110/-62 133-138 5 2.36 158-168 10 2.61 Incl.163-165 2 6.02 -------------------------------------------------------------------------- RC-586 59806N/4549E 110/-75 193-213 20 1.66 Incl.194-197 3 4.87 -------------------------------------------------------------------------- RC-587 59768N/4490E 112/-55 156-161 5 1.71 177-193 16 2.20 Incl.186-192 6 3.81 -------------------------------------------------------------------------- RC-588 59768N/4489E 112/-65 164-168 4 1.58 189-211 22 1.37 Incl.190-194 4 3.28 -------------------------------------------------------------------------- RC-589 59427N/4455E 110/-60 93-110 17 1.10 137-141 4 1.05 154-162 8 1.96 -------------------------------------------------------------------------- (i) Mineralized intervals in the upper 50 metres are predominantly oxide in nature. -------------------------------------------------------------------------- Grid Azimuth/ From-To Interval Gold Drill Hole Co-ordinate Dip (m) (m) (g/t) -------------------------------------------------------------------------- RC-590 59584N/4443E 112/-69 146-151 5 2.15 174-179 5 3.24 Incl.176-177 1 11.16 202-220 18 1.30 235-241 6 1.58 -------------------------------------------------------------------------- RC-604 59686N/4691E 110/-55 0-3(i) 3 1.51 28-33(i) 5 1.73 -------------------------------------------------------------------------- RC-605 59541N/4607E 111/-55 2-6(i) 4 1.49 46-49(i) 3 1.49 -------------------------------------------------------------------------- RC-607 60278N/4923E 110/-55 1-12(i) 11 1.79 Incl.6-10 4 2.65 -------------------------------------------------------------------------- RC-608 59100N/4481E 112/-65 148-153 5 1.66 -------------------------------------------------------------------------- Mineralized intervals are based on 1-metre composite samples utilizing a 0.25 g/t gold cut-off level with a maximum internal dilution of 2 metres. No cutting of gold assays has been employed for reported intervals. The attitude of mineralized intervals varies and reported mineralized intersections may not represent true widths. (i) Mineralized intervals in the upper 50 metres are predominantly oxide in nature.
Outlook
Oromin’s further and ongoing 2009 drilling plans include an aggressive evaluation to expand the high-grade Kerekounda gold deposit, to outline and define oxide mineralization potential at various other known gold deposits, and to continue the systematic evaluation of other structural-geochemical targets throughout the Golouma-Kerekounda region.
Our 2009 Pre-Feasibility Study being undertaken by SRK Consulting is proceeding on schedule with metallurgical, hydrological, geotechnical, resource evaluation, infrastructure/site development, social and environmental programs under way and ongoing.
Technical Supervision
Doug Turnbull, P. Geo., a “qualified person” for the purposes of National Instrument 43-101, has verified the data disclosed in this news release. William Bond, P. Geo., also a “qualified person” for the purposes of National Instrument 43-101, has supervised geologic field procedures. TSL Laboratories in Saskatoon carried out all assaying under industry-standard QA/QC procedures.
To find out more about Oromin Explorations Ltd., visit www.oromin.com. Please refer to the maps which set out the Sabodala deposits and zones under “Projects” on the website, and our previous news releases, for additional project information.
On behalf of the Board of Directors of OROMIN EXPLORATIONS LTD.
Chet Idziszek, President
Cautionary Statement
This document contains “forward-looking statements” within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans and our other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. Such forward-looking statements include, without limitation, estimates of exploration investment and the scope of exploration programs. There can be no assurance that such statements will prove to be accurate, and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company’s documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates or opinions change. Forward-looking statements are subject to risks, uncertainties and other factors, including risks associated with public markets, mineral exploration, price volatility in the mineral commodities we seek, and operational and political risks. Readers are advised not to place undue reliance on forward-looking statements.
Contacts:
Oromin Explorations Ltd.
David Scott
Investor Relations
(604) 331-8772
(604) 331-8773 (FAX)
dscott@mine-tech.com
www.oromin.com
then why is it $.68 cents?
G1
good question G1..
IR department problems??investors..mining companies..broker.s..should be knocking their door down for a piece of the action??Looks like none of is happening?Not from where I am sitting..NEWS LIKE THAT AND WE HAVE TRADED A WHOPPING 5,300 SHARES so far this morning in Vancouver..I wonder why?Blame the messenger?What messenger..back to sleep as we might hear news in about 2-4 months if we are lucky?Wonder why they don’t have a following except for us?Wonder why their was a possible road trip (if it was to contact future investors) before the news came out?It could if their was a road trip to the property?Or was it for a rest before this great news was released?But I would think if you were to go on the road you would like to have this news like this with you??You can go on for ever on this company and???dsh
TRADING DOWN WITH NEWS Last 10 trades today
Time X Price Chg Vol Buyer Seller Markers
10:11:16 T 0.66 -0.02 500 1 Anonymous 33 Canaccord K
10:11:16 T 0.66 -0.02 500 1 Anonymous 63 Byron K
10:06:01 T 0.66 -0.02 500 1 Anonymous 33 Canaccord K
10:06:01 T 0.66 -0.02 500 1 Anonymous 63 Byron K
10:02:16 T 0.66 -0.02 1,000 80 National Bank 33 Canaccord K
10:02:04 T 0.67 -0.01 10,000 80 National Bank 80 National Bank K
10:02:04 T 0.68 0.00 1,000 1 Anonymous 80 National Bank K
09:30:21 T 0.70 0.02 1,000 6 Union 28 BBS K
09:30:18 T 0.70 0.02 2,500 6 Union 28 BBS K
09:30:06 T 0.70 0.02 250 63 Byron 15 UBS E
This is already a blockbuster ! I’m in for more shares today.
This is already a blockbuster ! I’m in for more shares today.**I agree its got a great property from what were are reading.This company in someones elses hands wouldn’t be possibly trading here?Let see if these guys can get it going..with out a possible low PP?As far as buying in today..We were away ahead of you?You chould have been buying when it dipped to the .40 mark..We are all ready in a good profit position here and can take a profit anytime?As will the possible people taking down the much talked about LOW PP?They will be away ahead of you with warrants attached..If it comes about?It looks like we are going to have to wait for a buyout before we will get out?So any buyers today be prepared to be long time holders.Mind you cannot even come close to how long we are waiting after missing the run to $4.00?Cannot blame anyone but myself for that mistake..IT WON”T HAPPEN AGAIN??A bid of $1.25 will do it Monday morning..DSH
This stock is worth $5.00..In your dreams??Depth By Price
Bid
Orders Volume Price
1 1,000 0.67
1 1,500 0.66
1 4,000 0.65
2 5,000 0.63
2 6,000 0.62
Ask
Price Volume Orders
0.70 13,000 4
0.72 2,500 1
0.74 5,600 2
0.75 9,800 3
0.76 5,000 1….You must have access to something that creates dreams..When the stock CANNOT EVEN BREAK THE .70 MARK???Possible cap to hold in for the Possible PP?????Just me thinking out loud..DSH
As for our business plan, we have several options.
It is well known that juniors discover most of the resources needed by senior producers to replace what they mine each year. Traditionally, juniors with major discoveries are acquired by senior companies or form partnerships with them to develop their discoveries, partly because it’s so difficult and expensive to permit and develop new projects today.
Some juniors develop smaller mines and use the cash flow to expand operations over time, which is another option. We’ll examine all options once we have the pre-feasibility study in hand later this year. In addition, this study will also provide the mining and investment community with the first assessment of Sabodala’s economic potential.
So here it is in a nutshell….
If there is a PP before the prefeasibilty study it will be modest.
Hmm Who would be a likely partner? Randgold? maybe Iamgold? maybe Benton International for that matter. Once the prefeasibility is announced ……well that’s a whole new story as measured ounces will appreciate significantly with indicated ounces going throught the roof
Any announcement on modest PP, partnership and/or Argentina good news and this one will blast off
dyodd
FYI…
great article on the Junior Gold Market in may 15 th Goldseek web site. goldseek.com
explains a lot of stuff that we’re going trru at Ole. Makes sense of the low price too. Basically , saying we’re too small for the Instututions to buy,,, and only the retail investor is interested. But the retail guy has been scared away in all the market turmoil. But should come back when markets get normal again…. but sorry to say, looks like our only real hope is the B/O. Also says the 4 bucks we hit was just beczause of the wave at the time. The wave has gone the other way now…. and juniors are out of favor ( to say the least) . Article also says many wont make it in the short run.
Again,,, our only hope is that Chet keeps reporting more ounces,,, and gets it to a big #, like the 4 or 5 mil oz. Then we can only hope for his years of contacts and experience in the Biz,,, and he negotiates a good B/o # for us. (JMO)
OROMIN EXPLORATIONS
(OTC BB: OLEPF.OB)
Last Trade: 0.50
Trade Time: 9:31am ET
Change: Down 0.02 (3.85%)
Prev Close: 0.52
Open: 0.52
Bid: 0.50 x 3000
Ask: 0.55 x 2500
1y Target Est: N/A
Day’s Range: 0.50 – 0.52
52wk Range: 2.11 – 4.10
Volume: 100,500
Avg Vol (3m): 31,642.2
Market Cap: N/A
P/E (ttm): N/A
EPS (ttm): N/A
Div & Yield: N/A (N/A)…I might be the last to say sell here..but it may be true?But looks like some are bailing out or selling into the possible PP.Once its done we just may see it go..but it might not be right away?It wouldn’t look good right after the possible PP..I will hold for $4.00.dsh
Depth By Price
Bid
Orders Volume Price
2 6,000 0.61
2 66,000 0.60
4 16,500 0.57
2 12,500 0.56
2 12,000 0.55
Ask
Price Volume Orders
0.62 20,000 1
0.63 12,500 2
0.65 34,500 3
0.66 5,000 1
0.69 1,000 1…..Sorry cannot print what I am thinking Chet and cheerleaders.dsh
well that’s a whole new story as measured ounces will appreciate significantly with indicated ounces going through the roof…Here we boy wonder CHET and cheer leading staff POSSIBLY selling the farm for PEANUTS….TO WHO????dsh
Lets face it guys.We have been possibly led down the garden path..but by the best?By holding on to **CHET’S**OROMIN we have missed a chance in a lf time to load up on QUALITY COMPANIES RUN BY People who may possibly care for their existing share holders..Not like some..I can remember some share holders saying we have nothing to worry about.As a certain employee told them that he was a buyer of Oromin and other of thier company shares?In thier phone conversations with him?But if you check into the insider reports his name doesn’t come up on the list?Wonder if he ever bought or was it a story for us?I have never been able to find his nameon any report owing shares?..so far anyway’s?May show up one day out of the blue?Where have all the cheerleaders gone..To count thier blessings and rubbing their hands possibly waiting for some of the POSIBLY CHEAP PP that may becoming?Gosh I don’t see the POOR clumps like me WHO BOUGHT OROMIN UP TO $2.70 plus being offered any of the PP..Feel left out?Yes the garden path it was..By possibly drawing out the news releases they were possibly able to drain the most out of me?But really makes me wonder WHY they never considered buying the drills for the company?It would have saved us money and we might not be possibly doing this PP at this time?Someone is possibly making money off this drilling program and it looks like it not the comapny..This is big bucks being thrown around here?G** you can go forever on the possible mistakes that have happened along the way??I think their is enough abound to write a book on this story and its possibly that.s thier is more to comenot?Never a dull moment hereBut I do miss the PROPERE GRAMMER from the CHEER LEADERS?Any writers around here or L??dsh
Last 7 trades today
Time X Price Chg Vol Buyer Seller Markers
11:14:32 V 0.11 0.01 5,000 2 RBC 1 Anonymous K
11:14:32 V 0.11 0.01 6,500 7 TD Sec 1 Anonymous K
11:04:41 V 0.11 0.01 3,000 7 TD Sec 7 TD Sec K
10:53:53 V 0.10 0.00 18,500 2 RBC 88 Scotia iTRADE K
09:52:01 V 0.10 0.00 15,000 7 TD Sec 88 Scotia iTRADE K
09:43:03 V 0.10 0.00 5,500 62 Haywood 88 Scotia iTRADE K
09:42:38 V 0.10 0.00 44,500 62 Haywood 88 Scotia iTRADE KL…Don’t worry it’s not Oromin..But it one of their other stocks Madison.I was a buyer.The key might have been Haywood buying?But I could be wrong but I am happy to buy at .10 anyways.It doesn’t have to go far to double a oersons money?You see I am not completely mad?Even Oromin is looking better.dsh