Orogen closing in on Mutsk earn-in completion

4th Jul 2016 11:58

(ShareCast News) - Gold exploration company Orogen Gold updated the market on its plans for 2016 at the Mutsk gold project in southern Armenia on Monday, and said it was strongly encouraged by the project re-appraisal after the 2015 drilling programme.The AIM-traded firm confirmed the ground geophysical survey for structural information was completed in June, and drilling is to recommence, aimed at significantly extending the footprint of the gold zone.Orogen said the achievement of 80% earn-in is targeted for the end of August."This work programme will complete our earn-in at the Mutsk gold project in Armenia," said Orogen chief executive Colin Bird."Our recent work has allowed us to understand the nature and structure of the mineralisation."Bird said the company has carried out additional ground geophysics to test - and hopefully confirm - their expectations for the final earn-on drilling programme."We are very encouraged that the nearby Amulsar gold project is financed and likely to be put into production."We will also continue our search to identify and acquire further projects which fit our short and mid-term mission," Bird explained.